SM Group, a midsized South Korean conglomerate, said Thursday March 14, that it has no plan to merge its shipping line with the country’s leading shipper, Hyundai Merchant Marine Co.
Instead, it will aim for a turnaround this year, and seek to open routes linking to Europe and other regions.
“We don’t have any merger plan with Hyundai Merchant, and the move is unhelpful to both firms,” the group said.
Read more on Yonhap News.
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