Seungsan Pack, Korean steel pallet maker, put up for sale
Seungsan Pack, a maker of steel pallets and metal cases for heavy export cargo in Yeosu, South Korea, has been put up for sale, with Samil PwC as adviser and non-binding letters of intent already received from several investors. The company is weighing a sale of its entire equity, including control, against a minority investment, and is expected to name a preferred bidder soon. Restructuring of Yeosu's petrochemical cluster, where ethylene capacity is to fall from 3.52m to 2.13m tonnes, is squeezing local demand.
Why this mattersThe sale puts a Korean export packaging maker with overseas production in play as petrochemical restructuring in Yeosu cuts demand from its main local customers.
- Seungsan Pack, a steel pallet and metal case maker in Yeosu, South Korea, was reported for sale on 20 October 2026
- Samil PwC is sale adviser; non-binding letters of intent have been received from multiple investors
- Options are a sale of the entire equity including control, or a minority stake investment
- The company runs about 12,000 pyeong (about 40,000 square metres) of factory space in Korea and about 40,000 pyeong (about 132,000 square metres) abroad
- Yeosu ethylene capacity is set to fall by 1.39m tonnes to 2.13m tonnes under government-approved petrochemical restructuring
- Founded in 1988 as Woosuk Packaging, a cardboard box maker, the company also produces corrugated board and boxes
Sources
fnnews.com
KO