Sika AG is acquiring 100% of the waterproofing business from YEAN-IL INDUSTRIAL Co. Ltd., a leading player in tunnel waterproofing in South Korea, to strengthen its market position and expand its product offerings.

Information on the Target

Sika AG, through its Korean subsidiary Sika Korea Ltd., has entered into an agreement to acquire 100% of the waterproofing business from YEAN-IL INDUSTRIAL Co. Ltd. YEAN-IL is recognized as a market leader in the production of tunnel waterproofing membranes in South Korea, boasting a strong brand and extensive project history that underscores its reputation in the industry.

Founded in 1973 by Mr. Myung Ryul Kim and located approximately 100 km south of Seoul, YEAN-IL has developed a solid foundation in the market over the decades. The founder, along with his son, who currently serves as the CEO, will remain with the company to ensure a smooth transition and to focus on the integration process as well as the ongoing development of the business.

Industry Overview in South Korea

The waterproofing industry in South Korea is integral to the nation's ongoing infrastructure development, which is vital for the country's growth. With increasing urbanization and climate-related chall