South Korean logistics firm Hyundai Glovis Co. reaffirmed Wednesday that it has no plan to acquire HMM Co., the top container shipper in the country.

"We don't have any plan to purchase HMM and will focus on mobility and transport," the logistics unit of Hyundai Motor Group said in a statement.

In January, Hyundai Glovis said in an earnings call that it had no intention to acquire HMM. Still, Hyundai Glovis has been mentioned as a potential candidate to take over the state-owned company.

A Hyundai Glovis official said the company wants to clarify its position on the issue to "prevent confusion and help the understanding of the business community and the capital market."

The government has injected public funds to keep troubled HMM afloat, with the state-run Korea Development Bank owning a 20.7 percent stake and Korea Ocean Business Corp. holding another 19.96 percent interest.

The two public institutions have recently signed a deal on the advisory service for the sale of HMM, kicking off full-fledged efforts to dispose of their stakes in the shipper.

Earlier in January, POSCO Holdings Inc., South Korea's top steelmaker, denied talk of a plan to acquire HMM, saying "it has no plans to buy the shipper, which doesn't correspond with its mid- and long-term business strategy."

Last year, HMM Co. pulled off a stellar performance as its earnings jumped nearly 89 percent from a year earlier on high shipping rates and lower costs.

Source: Yonhap News Agency