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May 2024
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May 2024
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Korea shipping industry group opens tender for 400 billion won global logistics fund

By Hui Ching-hoo   
April 18, 2024

Korea Ocean Business Corporation (KOBC), a shipping industry body under the Ministry of Oceans and Fisheries, has opened a tender for a 400 billion won (US$288.69 million) global logistics supply chain investment fund.

KOBC will hire two asset managers for the fund, which will invest in port and logistics companies and projects in the US, Europe, and Southeast Asia, according to the group’s request for proposal on April 16.

The fund will have a five-year investment period and a 15-year maturity. It will be set up within six months once the managers are appointed.

Asset management firms bidding on the tender must be experienced in managing global private equity funds for institutional investors, with at least 1 trillion won of total assets in their real asset portfolio. The firms have to be registered in South Korea.

Applications are open until May 9 and the winning bidders will be chosen by the end of May.

Busan-based KOBC provides financing, credit guarantees and facility and infrastructure support such as container leasing to local shipping companies.