Dongwon Group

Dongwon plans building sale to raise HMM acquisition monies

Dongwon Group, one of two groups vying to acquire South Korean flagship container line HMM, is reportedly planning to sell its office building in Seoul to raise funds for its bid.

South Korea’s largest fishing group is understood to have offered KRW6.4 trillion (US$4.97 billion) to buy HMM. The other bidder, South Korean poultry processor and Pan Ocean parent Harim Group is known to have offered a similar price.

Dongwon, which had cash holdings of KRW500 billion (US$380 million) as of 30 June, is...

https://container-news.com/dongwon-plans-building-sale-to-raise-hmm-acquisition-monies/

HMM bid now down to two South Korean groups

South Korea’s Dongwon Group and Harim Group will be vying to take control of the country’s flagship box line HMM.

Dongwon, South Korea’s largest fishing group, and Harim, parent of the country’s largest dry bulk shipping business Pan Ocean, submitted their entries when the one-day tender closed at 5pm local time on 23 November.

South Korean trading and logistics group LX International, which with Dongwon and Harim, had been shortlisted in a preliminary round, decided not to go ahead.

Explaining...

https://container-news.com/hmm-bid-now-down-to-two-south-korean-groups/

HMM suitor Dongwon receives KDB funding to run Busan terminal

South Korean logistics and deep-sea fishing conglomerate Dongwon Group, which is one of the bidders for HMM, has secured approximately US$280 million in financing from KDB Smart Ocean Infrastructure Fund, a scheme led by state-controlled policy lender Korea Development Bank (KDB).

The funds will be used to operate a new container terminal under Phases 2-5 and 2-6 of Busan New Port’s West Container Terminal, which upon its opening in the first half of 2024, will be the country’s first fully...

https://container-news.com/hmm-suitor-dongwon-receives-kdb-funding-to-run-busan-terminal/