HMM said on the 30th that labor and management agreed on the transfer of the headquarters to Busan.
Labor and management decided this to join the broader social cause of balanced national development and stronger local decentralization.
Since the second half of last year, labor and management had held multiple consultations related to the headquarters transfer but had struggled to reach an agreement.
Recently, the union filed for mediation with the Labor Relations Commission and accused CEO Choi Won-hyeok with the Ministry of Employment and Labor (MOEL), and it also warned of an all-out strike.
However, an agreement was reached on the judgment that, with the deterioration of the business environment due to the Middle East war dragging on, a strike could cause social disruption.
With labor and management in agreement, HMM will amend its articles of incorporation regarding the location of its head office at an extraordinary shareholders' meeting scheduled for the 8th of next month.
Afterward, it plans to promptly complete legal procedures such as the transfer registration and to prioritize transferring the CEO's office.
In addition, to promote Busan's economic development, it will push to build a landmark-grade office building in North Port, and labor and management will negotiate the specific transfer method, considering the company's interests and synergy creation.
An HMM official said, "Labor and management agreed to harmoniously achieve the greater cause of balanced national development and the social responsibility of a national-flag carrier, while enhancing the company's competitiveness."