South Korea’s sovereign wealth fund backs Hyundai Heavy with new $900m acquisition vehicle

Korea, Inc is rallying to ensure it ensure it has global shipbuilding champions for further generations. Korea Investment Corp (KIC), South Korea’s sovereign wealth fund, has signed a deal with Hyundai Heavy Industries (HHI), the country’s top shipbuilding group, to jointly invest KRW1trn ($900m) in mergers and acquisitions of global companies in areas including artificial …

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