KKR has agreed to sell its tank-storage terminal businesses in Japan and Korea to institutional investors in two separate transactions for an undisclosed sum.
The global investment manager is selling Japan’s Central Tank Terminal (CTT) and Central Terminal Korea (CTK) to the unnamed buyers.
KKR acquired CTT in 2021 before expanding into South Korea in 2023 with the add-on acquisition of CTK.
CTT operates 12 terminals with over 450 tanks and 420,000 kilolitres of capacity across Japan, while CTK operates a tank-terminal complex in Ulsan alongside grain-silo facilities in Ulsan and Pyeongtaek.
Keith Kim, partner at KKR, said: “We saw an opportunity to build on CTT’s leading national network and CTK’s strategic Ulsan position to scale critical chemical-storage and logistics infrastructure in high-barrier, demand-resilient markets.
“Working closely with CTT and CTK, we strengthened their capabilities, expanded capacity and enhanced operational excellence. Both businesses are well positioned to continue their growth journeys.”
Yasuka Miyakawa, president and chief executive officer of CTT, said: “KKR has played a valuable role in CTT’s growth, strengthening our capabilities, expanding our terminal network, and investing in the people and facilities that enable us to better serve our customers.”
Chansoo Kim, CEO of CTK, said: “Under KKR’s ownership, CTK has advanced its growth plans, strengthened our commercial and operational capabilities, and continued investing in safe, reliable infrastructure for our customers.”
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