Hyundai Merchant Marine (HMM) is probably a month or less away from purchasing a cruise ship, according to Korea JoongAng Daily.
The report states that Hyundai was looking for a second-hand ship to sail to South Korea and other destinations from China, partnering with other parties on the operations and investment.
The price of the vessel is listed at nearly USD 166 million, which leads to speculation that the ship may be relatively new and mid-sized, compared to what might be available.
HMM last sailed pilgrimage-style cruises to North from South Korea over a decade ago. Earlier, Hyundai signed an agreement with Carnival Corp. to collaborate in 1996 on Carnival Asia, but it was terminated the next year due to different views on business models.