Korea Asset Management Corporation or KAMCO has opened a tender seeking up to four asset managers to oversee a 625 billion won (US$449 million) corporate restructuring innovation fund.
It’s the sixth such fund for KAMCO, a government-affiliated company that helps resolve non-performing loans of financial institutions, and provides restructuring plans for financially strained firms.
The fund will allocate at least 60% of investments to six key industries, including semiconductors, petrochemicals and automobiles, which are expected to be impacted by US tariffs, according to KAMCO’s request for proposal on September 3.
US President Donald Trump announced on July 31 that imports from South Korea will face a 15% levy.
Asset managers bidding on the tender must employ at least two core personnel who have more than ten years of investment experience.
The deadline for application is September 24, and the winning bidders are expected to be chosen by October 24.
According to government data, KAMCO’s previous five corporate restructuring funds have invested 5.5 trillion won to revamp more than 160 firms and enable their innovation and sustainable growth. The first fund was created in 2018.
