Splash247: HMM union threatens strike over plans to move HQ to Busan

South Korean flagship HMM’s onshore union has vowed legal action and a potential general strike after major shareholders and the government moved to press ahead with plans to relocate the company’s headquarters from Seoul to Busan. The dispute risks escalating into widescale industrial action as shareholders prepare a rapid timetable of board and shareholder votes.

The union says shareholders could appoint three friendly outside directors at March’s regular meeting, convene a board in April to propose an articles‑of‑incorporation amendment changing the HQ location, and finalise the move at an extraordinary shareholders meeting in May. “If the articles are changed while negotiations are under way, we will pursue legal action against the directors and seek an injunction to suspend the effect of the special resolution at the shareholders meeting or to block the relocation,” the union said.

The proposed transfer is part of a government drive to develop Busan as a “maritime capital” under President Lee Jae‑myung’s pledge. Major shareholders include Korea Development Bank (KDB) and Korea Ocean Business Corporation, which hold roughly 35% each. KDB chairman Park Sang‑jin told reporters: “The Busan transfer issue will be finalised in March when the shareholders’ meeting is held.”

Union leaders argue the move is politically motivated and threatens jobs, recruitment and management efficiency rooted in Seoul’s access to talent and global networks. The union warned a forced relocation would disrupt employees’ lives, risk departures and damage competitiveness.

Planned actions include commuting‑hour rallies from March 11, a March 26 press conference, and a full union assembly and general strike resolution rally on April 2. The union said it may escalate to daily rallies if the situation develops.