Private Equity Korea » Joint Venture

KT-Telekom JV talks are “well progressed”

Ross Geesman — Tue, 31 Jan 2012 12:23:29 +0000

According to South African tech blog, Tech Central a pre-JV diagnostic review between South Korean telecom KT and South Africa’s Telekom is “well progressed” and that the companies expect to finalise their information within the next few weeks.

The two companies announced they had signed an MOU in December of last year in order to look into areas for mutual strategic and business cooperation and to complete a diagnostic review.

“Following the successful completion of the diagnostic review, the companies would then seek to present the findings to their respective boards of directors and engage with key stakeholders before finalising the transaction agreements and presenting the transaction to Telkom shareholders for approval,” the company stated.

Under the proposed deal, KT Corporation will acquire a 20% stake in Telkom, allowing them to diversify and gain a footprint in Africa. The deal is estimated to be worth around $617 billion.

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Hanmi Global to establish JV with Indian real estate firm

Stephanie Lim — Fri, 25 Nov 2011 01:06:18 +0000

According to Mergermarket, Korean construction services company Hanmi Global has signed an MoU with Panchshil Realty, the Indian real estate company, for a 50:50 JV that will provide consultancy services for construction and project management in India’s construction and infrastructure sectors.

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KEPCO establishes JV with China Datang

Stephanie Lim — Thu, 17 Nov 2011 00:51:21 +0000

According to Mergermarket, an independent M&A intelligence service, Korea Electric Power (KEPCO) announced on November 17 that it has agreed to form a joint venture with electricity company China Datang, to provide a power supply to Inner Mongolia. China Datang will hold a 60 percent stake while Korea Electric Power will hold the remaining 40 percent.

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Korea Life Insurance and Zhejiang International create insurance JV

Ross Geesman — Thu, 10 Nov 2011 07:52:51 +0000

Korea Life Insurance revealed Wednesday that its joint life insurance company was recently authorized by the Chinese government to set up a joint venture in China with China-based, Zhejiang International Business Group, a state-run company.

Korea Life Insurance has expanded its international insurance business first into Vietnam and now to China, where it is the second Korean insurer to have gained approval for a joint venture in China.

The joint venture was established by a fifty-fifty investment, with total capital of 500 million yuan and is preparing to start insurance sales in the Chinese market in 2012. Korea Life Insurance will be in charge of managing the company which is based in Hangzhou.

China’s life insurance market is the world’s fifth largest by premium income. It is growing at 20 percent on a yearly basis, and is expected to stand shoulder to shoulder with the $500 billion US market by 2020.

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LIG Nex1 and Carl Zeiss Optronics form JV

Stephanie Lim — Thu, 27 Oct 2011 09:05:52 +0000

Asian Military Review has reported that South Korea’s leading provider of defense and security technology, LIG Nex1, and Germany’s Carl Zeiss Optronics GmbH have founded a joint venture that will begin operations in Seoul by the end of 2011.

Carl Zeiss Optronics has been delivering periscopes and optronic mast systems for submarines, and optoelectronic products to partners in South Korea for more than 20 years. The joint venture, LnZ Optronics Co., Ltd., will give the German company direct access to the Korean market and will be responsible for sales and possibly assembly, system and product tests, and service. LnZ Optronics will be owned and operated by both companies in a 50-50 split.

LIG Nex1 is a South Korean Aerospace and Defence company, a member of the LIG Group, and a subsidiary of the LG Corporation. It is one of the major suppliers of weapon systems for the Republic of Korea Armed Forces, as well as an international exporter of weapon systems.

Carl Zeiss Optronics is the Defence and Security branch of Carl Zeiss AG. It offers optical and optronical equipment for all military applications, such as intelligence, surveillance & reconnaissance, command & control, and force protection.

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HanmiParsons-Turner & Townsend JV launch new services

Brett Moffat — Fri, 19 Feb 2010 00:50:01 +0000

Quoting company officials, the Korea Herald article HanmiParsons JV helps builders manage construction cost, states that the HanmiParsons – Turner & Townsend joint venture (JV) has launched construction cost management services.

Cost management aims to minimize costs continuously from the initial planning stage of a project to final delivery, including predicting and analyzing costs at each stage, and providing risk management.

“Working closely with the Korean construction market, enables Turner & Townsend Korea to create customer value and maximized benefits by sharing our techniques and knowledge,” said Stephen Gibson, director and co-founder of Turner & Townsend Korea.

Earlier reported Turner & Townsend, the global construction consultancy, launched a joint venture with South Korea’s project and construction management company HanmiParsons in early January, in order to -

“…bring cost, commercial and contract management skills to investors embarking in capital infrastructure in the Korean market.”

Back when the JV was announced Mr Jong Hoon Kim, Chairman of HanmiParsons, stated,

“The partnership between Turner & Townsend and HanmiParsons can contribute to a successful project that satisfies or exceeds the client’s expectations.

Also, services offered by the JV will play a significant role providing competitive selected service options to various clients, domestic and international, by creating a synergy effect drawing from accumulated experiences of both Turner & Townsend and HanmiParsons.”

And Vincent Clancy, Turner & Townsend Chief Executive Officer, added,

“This relationship firmly cements Turner & Townsend’s position at the front of the construction consultancy market in Asia and our commitment to build a successful business in Korea.”

See here for more stories on successful JVs and for JV opportunities with Korean companies.

According to the press release -

Turner & Townsend has grown rapidly since starting operations in Asia in 1994, focusing mainly on providing cost and project management services to inward investors and local companies across the region.

Knowledgeable on specific issues related to capital investment Turner & Townsend has brought certainty of delivery in a wide variety of projects and programmes. The company has more than 200 staff in the region, operating from ten offices supporting over 60 clients including Rolls-Royce, KIA Motors, Siemens, Intel, Hyatt and BP.

HanmiParsons, which is based in Seoul, was founded in 1996 and has over 500 employees. Its core business is the provision of construction management and project management services as well as being involved in the provision of real estates investment consulting services and construction technical services.

See the full press release here.

(Source: Korea Herald, Turner & Townsend website)

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