Korea Post has opened a tender seeking an external adviser for a 2.74 trillion won (US$1.77 billion) foreign bond portfolio held by its savings and insurance units.
The winning bidder will be appointed for a four-year period, according to the government postal agency’s request for proposal on June 22.
Korea Post says fees will be negotiated based on the winner’s proposal and that the agreed figure cannot exceed the one proposed in the bid.
The tender closes on July 3. Evaluations, presentations and on-site due diligence are scheduled from July 6 to July 28, and the winning bidder is expected to be appointed on July 29.
Korea Post has around 150 trillion won of assets. Its Korea Post Savings and Korea Post Insurance units hold foreign bond assets of 1.76 trillion won and 980 billion won, respectively.
