Chun Jae-soo, the Democratic Party of Korea candidate for Busan mayor, said on the 8th that HMM's decision to move its headquarters location from Seoul to Busan "will completely change Busan's economic map."

Chun Jae-soo, the Democratic Party of Korea candidate for Busan mayor, speaks at the ceremony accepting the campaign chair position at the HMM Seafarers' Union office in Jung District, Busan, on the 7th./Courtesy of News1

That afternoon, Chun said in a statement, "The transfer of HMM, Korea's flagship national carrier, to Busan has moved beyond declaration and crossed the threshold into execution. Together with Busan citizens, we warmly welcome it," and stated accordingly.

Chun added, "This is not simply moving the address of corporations; it is returning the heart of Korea's shipping to where it rightly belongs—beside Busan Port on the ground," and said it is "a historic decision that changes from the root the long-standing structure in which ships moved from Busan Port but decisions were made in Seoul."

Chun's camp explained that HMM's transfer to Busan is expected over the next five years to lead to ▲7.7 trillion won in production ▲3 trillion won in value-added creation ▲16,000 jobs induced.

Chun emphasized, "I will not let HMM's transfer to Busan end as the completion of a simple administrative procedure," adding, "I will bundle together the shipping headquarters, Busan Port, maritime finance, maritime law, and even Arctic route strategy into one to make Busan a 'global maritime capital' where the strategies of world shipping are designed and decided."

HMM held an extraordinary general meeting of shareholders at its Yeouido headquarters in Seoul on the day and passed an amendment to its articles of incorporation to change its headquarters location from Seoul to Busan. HMM plans to transfer the CEO's office to Busan within the year and build a new office building at the North Port of Busan Port.

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