South Korean shipping giant Hyundai Merchant Marine (HMM) has decided to employ a total of 220 employees from its bankrupt compatriot Hanjin Shipping starting from next month.
The company said that it will initially employ 131 of Hanjin’s workforce including onshore, offshore, overseas staffs and ship managers as well as recruit 41 more ex-Hanjin employees including offshore staff and assign them to the tasks next month.
Additionally, HMM said that it also plans to rehire up to 50 of Hanjin’s offshore staff to fit in with the company’s expansion plans as it is looking to acquire additional vessels.
“We will fully support Hanjin’s workforce to help them quickly adapt and adjust into HMM’s corporate culture and come into their own,” C.K. Yoo, HMM CEO, said.
In December 2016, Hyundai Merchant Marine unveiled its plans to take 5 percent of global market share by 2021 by means of various measures including its latest agreement to join the 2M network.
Currently controlling 2.2 percent of global container capacity, the firm reportedly said that it intends to improve cost competitiveness by focusing on the Asia-US route and raising wet bulk carriers rather than dry bulk vessels.