Well to Sea Investment completed the acqusition of Seopyeongtaek Tank Terminal from Poongsung for $25m.

Well to Sea Investment, a private equity fund manager, completed the acqusition of Seopyeongtaek Tank Terminal, a storage tank rental company, from Poongsung for $25m. Due to the nature of the equipment industry, the tank terminal industry has high entry barriers as large-scale capital investment is inevitable in the early stages of the business, but once a large ship can dock, it is possible to generate stable profits.