HMM union threatens general strike over government-backed Busan headquarters move

HMM’s onshore labour union has announced plans for a general strike and legal injunctions to block the South Korean government’s push to relocate the carrier’s headquarters from Seoul to Busan. In a statement issued on 3 March, the union said it “firmly opposes the push to relocate the headquarters for political purposes rather than corporate sustainability” and warned that “if the government continues to ignore workers’ right to survival and the company’s autonomy, we will proceed to all-out struggle including a total strike,” according to a translated statement reported by Aju Economy. The escalation plan begins with weekly workplace rallies from 11 March, a press conference at headquarters on 26 March, and a full general strike resolution rally on 2 April.

Korea Development Bank chairman Park Sang-jin confirmed at a press conference in Seoul on 25 February that the Busan transfer remains the immediate priority, with any privatisation sale to follow only after relocation is completed. The procedural mechanism is already mapped: friendly outside directors would be appointed at the annual shareholders’ meeting in March, a board vote in April would propose an articles of incorporation amendment, and an extraordinary shareholders’ meeting in May would finalise the move. The dispute comes as HMM has surpassed 1 million teu of operated capacity across 97 vessels, with a further 200,000 teu on order through 2029, while KDB prepares to resume privatisation at a valuation of KRW 8–10 trillion.

President Lee Jae-myung, inaugurated on 4 June 2025 following the impeachment crisis, has championed the relocation as part of his “maritime capital” agenda for Busan — the Ministry of Oceans and Fisheries moved from Sejong to Busan in December 2025, with mid-sized carriers SK Shipping and H-Line Shipping announcing plans to follow. HMM’s move would be the most consequential given its Premier Alliance membership alongside ONE and Yang Ming; neither alliance partner has commented publicly on the potential operational impact. The union argues the relocation would trigger staff departures and disrupt business coordination at a carrier whose booking, commercial and finance teams are embedded in Seoul’s networks.