This article was displayed on the ChosunBiz MoneyMove (MM) site at 8:10 p.m. on Nov. 17, 2025.
Domestic private equity firm IMM Investment signed a deal to acquire half of SK Innovation's Boryung liquefied natural gas (LNG) terminal equity for about 560 billion won in partnership with KB Asset Management's Balhae Infrastructure Investment Company.
According to the investment banking industry on the 17th, the IMM-Inve–KB Balhae Infrastructure consortium signed a share purchase agreement (SPA) to acquire 49.9% of SK's Boryung LNG terminal. The acquisition price is about 560 billion won.
Earlier on the 2nd of last month, SK Innovation had selected IMM Investment as the preferred bidder to acquire half of the Boryung LNG terminal equity.
The industry initially reported only that IMM Inve became the preferred bidder, but in fact it was a consortium of IMM Inve and KB Balhae Infrastructure.
IMM Inve will set up special purpose companies (SPCs) Gaia One LLC and Gaia Two LLC to invest equity, and KB Balhae Infrastructure will set up Youngbo Green Hub LLC to invest. IMM Inve will acquire about 36% equity for about 400 billion won, and KB Balhae Infrastructure will acquire 14% for about 160 billion won.
The asset for sale is 49.9% equity in the Boryung LNG terminal held by SK Innovation. The remainder is held by GS Energy. Net worth is 314.1 billion won and total liabilities are about 1.2778 trillion won.