Taekwang's rapid expansion seen as signal of disgraced owner's return

Taekwang Group has continued its expansion across industries, fueling speculation that its former chairman may soon return to management and begin handing over control of the petrochemical-to-financial conglomerate to his children. According to industry officials on Monday, a consortium led by Taekwang Industrial — the group’s key unit — has recently emerged as the strongest candidate to acquire K Shipbuilding, after HJ Shipbuilding & Construction and Pavilion Private Equity dropped out of the main bid. Although TPG withdrew from the Taekwang Industrial-led consortium in February, the Korean company found another partner and moved closer to entering the shipbuilding industry. In March, Taekwang Industrial completed the acquisition of Aekyung Industrial, a soap and toothpaste maker, following its purchase of Courtyard by Marriott Seoul Myeongdong last December. The process to acquire Dongsung Bio Pharm has been underway since January. Taekwang Industrial is expected to mobilize its real estate, valued at more than 1 trillion won ($664 million), and cashable assets, which totaled 426

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