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Capital & Financial MarketsPortfolio & Strategy 23 Jan 2026

Global Sea says no decision taken on USD 1.48bn paper packaging sale

South Korea's Global Sea Group said in January 2026 that it had not decided to sell its paper packaging division, comprising Taerim Packaging, Taerim Paper and Jeonju Paper, denying media reports and stating that no advisor had been appointed and that there was no urgency to sell. A full divestment is put at around USD 1.48bn (KRW 2 trillion) and would cut group debt of USD 1.77bn (KRW 2.4 trillion) to roughly USD 295.2m (KRW 400bn). Parent Sae-A Trade built the division by buying Taerim Packaging and Taerim Paper in 2020 and Jeonju Paper in 2023.

Why this mattersA USD 1.48bn disposal would put one of Korea's larger containerboard and corrugated platforms in play, at a scale that would draw regional and financial buyers.

  • A rumoured full sale of Global Sea Group's paper division, valued at an estimated USD 1.48bn (KRW 2 trillion), had not been decided as of January 2026 and no advisor had been appointed
  • The paper units named in reports are Taerim Packaging, Taerim Paper, Jeonju Paper and Jeonju Won Power
  • Group total debt stands at about USD 1.77bn (KRW 2.4 trillion); a sale could reduce it to roughly USD 295.2m (KRW 400bn)
  • The paper division posted EBITDA of about USD 147.6m (KRW 200bn) in 2025 and combined annual revenue above USD 1.48bn (KRW 2 trillion)
  • Parent Sae-A Trade bought Taerim Packaging and Taerim Paper for USD 553.5m (KRW 750bn) in 2020 and Jeonju Paper for USD 479.7m (KRW 650bn) in 2023 through Taerim Paper subsidiary T&J Investment
  • Global Sea Group holds about 20 subsidiaries across apparel, construction and paper, with 2025 group revenue just under USD 5.17bn (KRW 7 trillion)
Global Sea Group
Sources itnk.co.kr KO
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-09-28 · Edited before publication: Two problems. The source is dated 23 January 2026 but the copy read as current, so the denial is now explicitly dated. And "under consideration since 2023" misreads the Korean: 2023 is when the group entered the large-conglomerate ranks, not when the sale review began. Conversions at KRW 1355 to the dollar check out.
  • 2026-09-28 · Edited before publication: Style: amounts were given in KRW first with USD in brackets, reversing house style. All conversions recomputed at KRW 1,355/USD and are correct (KRW 2tn = USD 1.48bn; 2.4tn = 1.77bn; 400bn = 295.2m; 200bn = 147.6m; 750bn = 553.5m; 650bn = 479.7m; 7tn = 5.17bn). Facts otherwise grounded. Note the event is a January 2026 denial, which the summary correctly dates.