South Korean Shipping Giant HMM Posts 500% Operating Profit Surge Amid Market Upheaval

South Korean shipping giant HMM delivered strong financial results in 2024, with revenue reaching KRW 11,700 billion (USD $8 billion) and operating profit hitting KRW 3,513 billion (USD $2.3 billion) — a 500% increase from the previous year — achieving a 30% operating margin.

Net profit climbed nearly 300% to KRW 3,781 billion (USD $2.6 billion).

“The strong performance was driven by strategic fleet expansion and network optimization, while also benefiting from the …