KKR plans to divest up to 8.5% of its stake in HD Hyundai Marine Solution in a block trade valued at up to KRW 560 billion ($410 million), furthering its exit strategy while capitalizing on the firm's growth in the marine services industry.

Information on the Target

HD Hyundai Marine Solution, valued at KRW 7.2 trillion ($5.3 billion), is a prominent player in the marine services industry, specializing in ship repair and after-sales services. The company has established itself as a significant beneficiary of the increasing global demand within the shipbuilding and maritime services sector.

The firm became publicly listed on the KOSPI in April 2023, marking a significant milestone in its corporate journey. Initially, KKR acquired a 38% stake in HD Hyundai Marine Solution in 2021 for approximately KRW 650 billion ($483 million), positioning itself as the second-largest shareholder.

Industry Overview in South Korea

The marine services industry in South Korea has seen substantial growth, driven by a global resurgence in shipping and maritime logistics. Factors such as increased trade activities,