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OFFICIALS from Korea's shipping industry have called on the government to prevent IMM Private Equity from selling Hyundai LNG Shipping to a foreign firm, citing concerns about the nation's energy security, reports the Korea Times.
The private equity firm is reportedly contemplating selling the shipping company to potential buyers from the US, UK or Denmark.
"Important energy resources should be shipped by vessels owned by Korean shipping companies in order to enable stable supply amid the rapid-changing international situation," said the Federation of Korea Maritime Industries.
"However, the PEF is going in the wrong direction by trying to sell Hyundai LNG Shipping to a foreign buyer."
The federation also raised concerns over the possibility of Korea's know-how of shipping liquefied natural gas (LNG) being leaked.
"This will affect the ongoing sales procedures of SK Shipping and Polaris Shipping, both of which ship strategic commodities," said the federation.
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