Hyundai Looking to Buy Ship, Return to Cruise Industry

Hyundai Merchant Marine may be 30 days or less away from buying a cruise ship, according to a report in the Korea JoongAng Daily.

The article states that Hyundai is looking to sail a second-hand ship from China to South Korea and other destinations, partnering with other companies on the investment and operations.

The vessel’s price is listed at approximately $166 million, leading to speculation that this ship may be mid-sized and relatively new, compared to what else may be available.

Hyundai last sailed pilgrimage-style voyages from South Korea to North Korea over a decade ago.

Prior to that, the company signed an agreement with Carnival Corporation to collaborate on Carnival Asia in 1996, but the agreement was terminated a year later due to differing views on market entry and business models.

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