South Korea’s flagship shipping company, HMM, has unveiled a mid-to-long-term strategy that will see KRW 23.5 trillion (US$ 17.4 billion) invested in the expansion of its business portfolio by 2030. The plan targets significant upgrades across its container, bulk, and logistics sectors, with a strong emphasis on eco-friendly innovations as HMM sets sights on accelerating achieving net zero carbon emissions by 2045. The shipping major said it would allocate KRW 14.4 trillion, over 60% of the total investment, to sustainable management initiatives, including low-carbon ships and green facilities.

“HMM is actively moving toward Net Zero 2045 to strengthen its response to environmental regulations and achieve carbon neutrality. To reach this goal, HMM will spend KRW 1 trillion on retrofitting ship engines, securing a supply chain for green fuels, and improving operational stability and efficiency through digitalisation. Moreover, HMM plans to develop new sustainable businesses and strengthen the organisation and human resources that will execute the 2030 mid-to-long-term strategy,” the company said.

The investment will be allocated as follows:

• Container Business: KRW 12.7 trillion (US$ 9.4 billion)
• Bulk Business: KRW 5.6 trillion (US$ 4.1 billion)
• Integrated Logistics: KRW 4.2 trillion (US$ 3.1 billion)
• Competitiveness Enhancement: KRW 1 trillion (US$ 74 million)

For its container shipping business, HMM plans to inject KRW 11 trillion to secure an operational fleet of 1.55 million TEU (130 vessels). The move is aimed at preparing HMM  for the reorganisation of global shipping alliances and strengthening the competitiveness of its core business. Considering the increasing fleet size, HMM will also invest KRW 1.7 trillion in new containers. In addition, as part of its decarbonisation efforts, HMM plans to acquire around 70 “green vessels” by 2030 and establish a carbon-neutral ecosystem across all transportation segments by 2045.

The investment is being announced just a day after the company announced a rebranded alliance with its partners ONE and Yang Ming.

In support of its bulk transportation business, HMM will invest KRW 5.6 trillion to triple its fleet from 36 to 110 vessels, increasing its capacity to 12.56 million DWT. The company wants to strengthen profitability by creating a balanced business portfolio that is not overly dependent on any single bulk market, such as tankers or dry bulk. Additionally, HMM intends to diversify its business by establishing a presence in the “eco-friendly energy transportation sector and gaining a significant market share at an early stage.”

HMM has earmarked KRW 4.2 trillion to enhance its shipping and logistics infrastructure by extending terminals and acquiring additional port terminals in strategic areas. Furthermore, HMM aims to expand its Off Dock Container Yard (ODCY) business and integrated logistics business to provide end-to-end services.

“By strengthening partnerships founded on trust, we are enhancing the quality of service we deliver to our customers,” Kim Kyung Bae, HMM President & CEO, said. “We remain committed to developing a resilient business portfolio and positioning ourselves as a global leader in eco-friendly shipping for the future.”

South Korea’s flagship shipping company, HMM, has unveiled a mid-to-long-term strategy that will see KRW 23.5 trillion (US$ 17.4 billion) invested in the expansion of its business portfolio by 2030. The plan targets significant upgrades across its container, bulk, and logistics sectors, with a strong emphasis on eco-friendly innovations as HMM sets sights on accelerating achieving net zero carbon emissions by 2045. The shipping major said it would allocate KRW 14.4 trillion, over 60% of the total investment, to sustainable management initiatives, including low-carbon ships and green facilities.

“HMM is actively moving toward Net Zero 2045 to strengthen its response to environmental regulations and achieve carbon neutrality. To reach this goal, HMM will spend KRW 1 trillion on retrofitting ship engines, securing a supply chain for green fuels, and improving operational stability and efficiency through digitalisation. Moreover, HMM plans to develop new sustainable businesses and strengthen the organisation and human resources that will execute the 2030 mid-to-long-term strategy,” the company said.

The investment will be allocated as follows:

• Container Business: KRW 12.7 trillion (US$ 9.4 billion)
• Bulk Business: KRW 5.6 trillion (US$ 4.1 billion)
• Integrated Logistics: KRW 4.2 trillion (US$ 3.1 billion)
• Competitiveness Enhancement: KRW 1 trillion (US$ 74 million)

For its container shipping business, HMM plans to inject KRW 11 trillion to secure an operational fleet of 1.55 million TEU (130 vessels). The move is aimed at preparing HMM  for the reorganisation of global shipping alliances and strengthening the competitiveness of its core business. Considering the increasing fleet size, HMM will also invest KRW 1.7 trillion in new containers. In addition, as part of its decarbonisation efforts, HMM plans to acquire around 70 “green vessels” by 2030 and establish a carbon-neutral ecosystem across all transportation segments by 2045.

The investment is being announced just a day after the company announced a rebranded alliance with its partners ONE and Yang Ming.

In support of its bulk transportation business, HMM will invest KRW 5.6 trillion to triple its fleet from 36 to 110 vessels, increasing its capacity to 12.56 million DWT. The company wants to strengthen profitability by creating a balanced business portfolio that is not overly dependent on any single bulk market, such as tankers or dry bulk. Additionally, HMM intends to diversify its business by establishing a presence in the “eco-friendly energy transportation sector and gaining a significant market share at an early stage.”

HMM has earmarked KRW 4.2 trillion to enhance its shipping and logistics infrastructure by extending terminals and acquiring additional port terminals in strategic areas. Furthermore, HMM aims to expand its Off Dock Container Yard (ODCY) business and integrated logistics business to provide end-to-end services.

“By strengthening partnerships founded on trust, we are enhancing the quality of service we deliver to our customers,” Kim Kyung Bae, HMM President & CEO, said. “We remain committed to developing a resilient business portfolio and positioning ourselves as a global leader in eco-friendly shipping for the future.”