HMM reports financial declines, but remains profitable

In line with the trend observed among its counterparts, HMM, a major South Korean container carrier, reported a decline in its financial figures for the year 2023.

In particular, the company achieved an operating profit of KRW585 billion (US$440 million) with a margin of 7%, a net profit of KRW1,006 billion (US$750 million) with a margin of 12% and revenue of KRW 8,401 billion (US$6.3 billion) in 2023, translating to declines of 94%, 90% and 55% respectively.

“The financial structure has remained...

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