HMM’s Last-Minute Negotiations Today Over Busan Relocation Amid Threat of General Strike

Labor-Management Talks Scheduled for the Afternoon of December 9
Union Warns: "Collective Action if Relocation Is Not Halted"

On December 9, HMM management and labor entered last-minute negotiations over the relocation of the company’s headquarters to Busan. As the government accelerates efforts to establish Busan as the “maritime capital,” other shipping companies are also joining the move to relocate their offices to Busan. The HMM labor union has stated that if the company does not decide to halt the relocation, it will launch a general strike and other collective actions, drawing attention to what conclusion will be reached today.

HMM’s management and labor are scheduled to discuss the headquarters relocation issue during the 2026 wage and collective bargaining agreement negotiations taking place this afternoon. In a phone interview with The Asia Business Daily, Jeong Seongcheol, head of the HMM land-based labor union, said, “If management does not officially announce the suspension of the relocation to Busan during today’s negotiations, we will proceed with additional collective action.”

HMM headquarters located in Park One Tower, Yeouido, Seoul. Photo by Jo Yongjun

Since the initial meeting for wage negotiations on November 21, HMM management and labor have been discussing the potential relocation to Busan. Jeong pointed out, “At the last negotiation, management stated for the first time that they are preparing a roadmap for relocation to Busan,” adding, “This means the company is unilaterally pushing for the headquarters relocation without a process to persuade employees.”

Following this, on December 1, the union began a picketing protest by attaching placards reading “Absolutely Oppose Headquarters Relocation” and “Protect Workers’ Right to Livelihood” in the office. On December 4, the union held a press conference near the presidential office in Yongsan, warning, “If the government and major shareholders push ahead with the headquarters relocation without consulting the union, we will immediately prepare for a general strike.”

HMM

Efforts to realize President Lee Jaemyung’s campaign pledge to make Busan the “maritime capital” are gaining momentum. The Ministry of Oceans and Fisheries began moving its offices from the Government Complex Sejong to Busan the previous day. Starting with the Shipping and Logistics Bureau on December 10, the ministry will begin normal operations at the Busan government office. Shipping companies such as SK Shipping and H-Line Shipping have also recently announced plans to relocate their headquarters to Busan, joining the movement.

The government has repeatedly emphasized the need for HMM’s relocation, applying pressure on the company. Jeon Jaesoo, Minister of Oceans and Fisheries, recently stated in a media interview that the ministry plans to announce HMM’s relocation roadmap in the second week of January next year.

HMM employees are opposed to the headquarters relocation, arguing that it would undermine the company’s competitiveness as a shipping company. The union stated that an external professional agency was commissioned to conduct a feasibility study, and the results showed that all options-including full relocation, partial functional relocation, and minimal relocation-were deemed “inappropriate” due to expected declines in competitiveness and increased costs.