Korea Post has picked local investment firms KB Asset Management and Woori Asset Management for a 300 billion won (US$216 million) domestic priority acquisition finance fund mandate.
The official contract will be signed once Korea Post completes on-site inspection and investment review with the two firms, the government postal agency says in a statement on July 22.
Korea Post put the mandate up for tender on May 31. The investment is structured as a blind fund with 80% allocated to domestic acquisition financing for mergers and acquisitions.
Sejong-based Korea Post has around 150 trillion won of assets under management.