# Poong Jeon Nonferrous Metal poised to acquire Jeongan Steel

Poong Jeon Nonferrous Metal has emerged as the leading bidder to acquire Jeongan Steel, a steel pipe and plate manufacturer in rehabilitation, with a bid of about 80 billion won. The court has approved Poong Jeon as the top-scoring bidder.

- Type: Acquisition
- Announced: 2026-11-03
- Where: South Korea
- Value: $60.0M (80.0B KRW)
- Status: announced
- Products: steel pipes, steel plates
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Poong Jeon Nonferrous Metal](https://endata.com/companies/15290.md) (acquirer)
- [Jeongan Steel](https://endata.com/companies/15291.md) (target)
- [Woori Private Equity](https://endata.com/companies/16246.md) (investor)

## Sources

- [en.fnnews.com](https://en.fnnews.com/news/202611030759533388), 2026-11-03: "Poong Jeon’s bid was about 80 billion won, reportedly exceeding the price Woori PE had set earlier."
- [en.fnnews.com](https://en.fnnews.com/news/202611060858507843), 2026-11-06: "Woori PE notified Samil Accounting Corporation, the sale advisor for Jeongan Steel, of its intention to waive its right of first refusal."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.