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[Alpha Biz=(Chicago) Reporter Paul Lee] Taelim Paper, an affiliate of Global Sea Group (Chairman Kim Woong-ki), acquired Jeonju Paper and Jeonju One Power.
Global Seah Group announced on the 18th that Taelim Paper has signed a stock trading contract with Morgan Stanley PE (MSPE) for Jeonju paper and Jeonju One Power. The acquisition price is about 650 billion won.
Founded in 1965, Jeonju Paper is the largest newspaper paper manufacturer in Korea. When it was acquired by MSPE in 2008, it was a paper company centered on newspaper paper that accounted for more than 80% of its total sales, but it transformed itself into a comprehensive paper company by diversifying its business due to changes in the industrial environment and the contraction of the newspaper paper market.
In addition, commercial development of Cogeneration Facility No. 2 was launched in 2017 through the renewable energy project promoted in 2010, and in 2019, Jeonju One Power was separated into a separate corporation to create a stable business structure.
Since its foundation in 1986, Taelim Paper has been a company specializing in producing corrugated paper based on its excellent technology and quality. It has Taelim Packaging, a corrugated cardboard packaging company, as a subsidiary, forming a vertical integration from corrugated paper to fabric and box manufacturing.
Taelim Paper has secured a production portfolio of various types of raw paper, including newspaper paper and publishing paper, as well as expanding the production capacity of corrugated paper through the acquisition of Jeonju Paper and Jeonju One Power.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
