SEOUL, KOREA - Al-Dafa Group of Qatar will join a consortium to acquire Byucksan Engineering & Construction. Al-Dafa Group said on November 10 that the Korean office of Akid Consulting, an investment company established by the group, would hold an opening ceremony at the Seoul Club in Seoul's Hannam-dong in the evening of the 11th.

 

As the first business in Korea, Akid Consulting will take part in the consortium to purchase the controlling share in Byucksan E&C. To that end, the company had submitted on the 8th a letter of intent to principal underwriter Ernst & Young Korea.

 

Al-Dafa Group was founded by Bader Al-Dafa, who served from 2007 to 2010 as the United Nations Executive Secretary of the Economic and Social Commission for Western Asia. He was the recent Ambassador of Qatar to the United States and Permanent Observer to the Organization of American States.

 

Headquartered in Doha, Qatar, Akid Consulting has offices in Istanbul, Jeddah, and Seoul. The recently opened Korean office will focus on business of supporting investors to the Middle East and Korean companies moving into the Middle East construction market.