Korea Environment Technology

Korea Environment Technology (Koentec) is a South Korean waste treatment company headquartered in Ulsan. It operates two incineration plants and a landfill, and is the largest industrial waste incineration facility in South Korea, with an annual capacity of 185,000 tonnes. Its business is divided into incineration (31%), steam production (55%), and landfill (14%). The company produces steam and supplies it to nearby large corporations. Over the past five years, it recorded average annual revenue growth of 11% and operating profit growth of 23%. Founded on 16 July 1993 as Ulsan Environmental Development, the company changed its name to Koentec on 29 March 2000 and listed on the KOSDAQ market in 2004. In 2008, Huchems HDS acquired management control, and in 2009 Koentec became an affiliate of the Huchems Group. In 2017, Macquarie Private Equity acquired a 33.63% controlling stake from Huchems Group for KRW 79.5 billion through its subsidiary Green Energy Holdings. In 2020, the IS Dongseo-E&F PE consortium purchased Koentec from Macquarie PE for approximately KRW 420 billion. In 2024, IS Dongseo decided to exercise its right of first refusal to acquire Koentec and instead sell both Coreentec and Koentec together to raise the sale price. On 16 June 2025, Koentec was delisted after its major shareholders, the IS Dongseo-E&F consortium, secured 82.5% of shares through a public tender offer. In 2025, the company was sold to a Hong Kong-based private equity fund.

Korea Environment Technology was established on 16 July 1993 under the name Ulsan Environmental Development. On 29 March 2000, it changed its name to Koentec. In 2004, the company listed on the KOSDAQ market. In 2008, Huchems HDS acquired management control, and in 2009 Koentec became an affiliate of the Huchems Group. In 2017, Macquarie Private Equity acquired a 33.63% controlling stake from Huchems Group for KRW 79.5 billion through its subsidiary Green Energy Holdings. In 2020, the IS Dongseo-E&F PE consortium purchased Koentec from Macquarie PE for approximately KRW 420 billion. In 2024, IS Dongseo decided to exercise its right of first refusal to acquire Koentec and instead sell both Coreentec and Koentec together to raise the sale price. On 16 June 2025, Koentec was delisted after its major shareholders, the IS Dongseo-E&F consortium, secured 82.5% of shares through a public tender offer. In 2025, the company was sold to a Hong Kong-based private equity fund.

• Founded as Ulsan Environmental Development

• Changed name to Koentec

• Listed on KOSDAQ

• Huchems HDS acquired management control

• Became an affiliate of Huchems Group

• Macquarie PE acquired 33.63% controlling stake for KRW 79.5 billion

• IS Dongseo-E&F PE consortium purchased Koentec for approximately KRW 420 billion

• IS Dongseo decided to sell Coreentec and Koentec together

• Delisted after public tender offer secured 82.5% of shares

• Sold to a Hong Kong-based private equity fund

South Korea's largest industrial waste incineration company, integrated with steam production and landfill operations.

• Industrial waste incineration

  Annual capacity of 185,000 tonnes, the largest in South Korea.

• Steam production and supply

  Supplies steam to nearby large corporations.

• Landfill services

  Operates a landfill site.

• 2020

  Ulsan council members criticize Macquarie’s Koentec sale

  Several members of the Ulsan Metropolitan Council criticized Macquarie over its attempt to sell its stake in Koentec and moved to prevent Koentec from enlarging its landfill sites. The council members alleged that Macquarie would make unfair profits from preferential treatment by the local government. Koentec denied receiving preferential treatment.

  Source

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• Unconfirmed

  Reported2020.05.15

  Ulsan council members criticize Macquarie’s Koentec sale[4]Ulsan council members criticize Macquarie’s Koentec salekoreatimes.co.kr

  Several members of the Ulsan Metropolitan Council criticized Macquarie over its attempt to sell its stake in Koentec and moved to prevent Koentec from enlarging its landfill sites. The council members alleged that Macquarie would make unfair profits from preferential treatment by the local government. Koentec denied receiving preferential treatment.

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1. 1코엔텍 - 위키백과ko.wikipedia.org
2. 2Korea Environment Technology - Wikidatawikidata.org
3. 3코엔텍 공식 웹사이트koentec.co.kr
4. 4Ulsan council members criticize Macquarie’s Koentec salekoreatimes.co.kr