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Private equityPortfolio & Strategy 20 Oct 2026

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
Seungsan Pack Samil PwC counterparty
Sources fnnews.com 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

  • 2026-10-23 · Edited before publication: The source does not put the overseas factory space in the US and Mexico; it only names them as the axis of the company's growth strategy. 'Private equity' is not a house topic. Converted pyeong to square metres. Lowered materiality to 2: a small Korean pallet maker in a sale process with no deal value.
  • 2026-10-23 · Edited before publication: 'Private equity' is not supported: the source says private equity has shown interest in packaging in general, not that any bidder is a fund. Topics are now Portfolio & Strategy only. Everything else is grounded; the pyeong conversions are correct.