HMM’s land-based labor union said on the 3rd it will launch legal action if the company’s major shareholder replaces outside directors whose terms expire this year with figures friendly to the shareholder’s side and then passes an articles-of-incorporation amendment to change the location of the headquarters.
In a statement the same day, the union said, “The current major shareholder appears likely to complete preliminary steps for a headquarters transfer by appointing three friendly outside directors at this month’s regular shareholders meeting,” and stated accordingly.
They said, “(The major shareholder) will convene a board meeting in April without a labor-management agreement to pass an amendment for changing the location of the headquarters, and will seek to finalize it at an extraordinary shareholders meeting in May,” adding, “In that case, we will file a complaint against the directors for breach of duty and seek an injunction to suspend the effect of the special resolution of the shareholders meeting or an injunction to prohibit the transfer.”
The union said, “We strongly oppose pushing a headquarters transfer that prioritizes political aims over the substance of corporations,” adding, “We plan to launch a full-scale struggle, including a general strike resolution rally in early April.”
The union plans to hold a commuting-hour promotional rally in front of the HMM building in Yeongdeungpo-gu, Seoul, starting on the 11th of this month. On the 26th, it will hold a press conference, and on the 2nd of next month, it will hold a general assembly of union members and a general strike resolution rally in front of the Cheong Wa Dae Sarangchae in Jongno-gu, Seoul.
The union said, “The government’s forced transfer plan to move the headquarters of HMM and other shipping corporations is political violence that threatens workers’ job security and living areas,” adding, “The Ministry of Oceans and Fisheries should stop acting for a particular politician and fully withdraw the transfer plan.”
HMM’s headquarters transfer is being pursued under President Lee Jae-myung’s pledge to transfer private shipping corporations to Busan. The Ministry of Oceans and Fisheries, the responsible ministry, is currently discussing incentives for corporations subject to transfer with the Korea Shipowners’ Association (KSA), the Busan Chamber of Commerce and Industry, and others.
HMM’s major shareholders are Korea Development Bank (KDB) (35.42%), Korea Ocean Business Corporation (KOBC) (35.08%), and the National Pension Service (5.62%). Korea Development Bank Chairman Park Sang-jin said at a press briefing on the 25th, “The Busan transfer issue will be finalized in March when the shareholders meeting is held.” Earlier, Korea Ocean Business Corporation President Ahn Byung-gil had also argued that HMM’s headquarters should be transferred to Busan.
Source: Chosun Biz