South Korea’s Deal Surge Signals Global Expansion Momentum
South Korea’s mergers and acquisitions market has surged into one of its most active periods on record, fuelled by heightened investor appetite and a strong equities backdrop, with the KOSPI ranking among the top three performing global stock markets in 2025 and rising more than 70 percent year to date. US financial giant Citi has been a central connector of capital and corporate ambition across this accelerating flow.
The recent deal momentum spans both inbound and outbound activity, reinforcing Korea’s reputation as a high-growth, high-quality investment destination.
Transactions have crossed technology, energy infrastructure, healthcare, and industrials – sectors aligned with national priorities for digitalisation, energy security, and competitiveness.
Global Private Capital Targets Digital Transformation
EQT’s agreement to acquire a control stake in Douzone Bizon – valued at approximately $930 million – represents Asia’s largest ever B2B software transaction outside Japan.
Founded in 1991, Douzone Bizon offers cloud-based enterprise solutions empowering small- and medium-sized enterprises to scale digital operations, from ERP to fintech and AI services.
Citi advised EQT, leveraging its global technology insights to validate the investment thesis and support deal execution, according to a note issued on Wednesday.
Infrastructure Investors Bet on Energy Demand Growth
IMM Investment and the KB Balhae Infrastructure Fund consortium secured a 49.9 percent stake in Boryeong LNG Terminal through a highly competitive auction process for KRW 558 billion.
The terminal – Korea’s largest privately owned LNG facility – is a strategic asset serving power generation and semiconductor manufacturing.
Citi acted as exclusive financial adviser, coordinating tight-timeline negotiations and growth planning.
Healthcare Platforms Evolve Through Strategic Partnerships
Kakao’s sale of a controlling stake in Kakao Healthcare to consortium partners led by CHA Cares and CHA AI Healthcare marks a critical step in its business portfolio realignment.
The two-phase transaction, valued at KRW 170 billion, combines Kakao’s AI and data capabilities with CHA Bio Group’s extensive medical network to accelerate digital healthcare innovation in Korea and globally.
Citi advised on positioning the business model and navigating complex multilateral negotiations.
Shipping and Energy Transition Drive Large-Scale Exits
In late November, IMM Private Equity and IMM Investment agreed to divest Aegis One – the holding company of Hyundai LNG Shipping – to Sinar Mas Group affiliate Frontier Resources at an enterprise value of KRW 3.8 trillion.
The fleet operator, with more than thirty years of experience, serves leading global energy companies and underpins Korea’s LNG logistics infrastructure. Citi supported valuation, due diligence, and buyer engagement across the maritime sector.
Airwallex Adds Momentum with APAC Expansion Strategy
Complementing the surge in Korea, the wider Asia-Pacific region is also seeing financial infrastructure investment accelerate. Airwallex’s acquisition of a majority stake in Indonesian PJP Category 1 license holder PT Skye Sab Indonesia expands its footprint across key APAC markets and advances support for cross-border SMEs.
The move follows a $330 million capital raise at an $8 billion valuation and supports Indonesia’s 2045 Digital Vision.
A Market Positioned for Continued Deal-Making
Sector diversification, robust liquidity, and a favourable equity environment continue to draw institutional capital into Korea.
With Citi advising on transformational transactions and enabling global connectivity, deal-making momentum shows no signs of slowing as strategic investors pursue opportunities across Asia’s most dynamic advanced economy.
