South Korea
December deals: A Christmas story
JKL Partners and a unit of South Korean conglomerate Harim Group were named by a local court as the preferred bidder for bankrupt shipper STX Pan Ocean on December 17. This was slightly more generous to those looking forward to a seasonal break than the...
JKL, Harim Group named preferred bidder for Korea's Pan Ocean
JKL Partners and a unit of South Korean agricultural conglomerate Harim Group have been named by a local court as the preferred bidder for bankrupt shipper STX Pan Ocean.
Hahn & Co leads $3.6b acquisition of Visteon’s Korean unit
US auto parts maker Visteon Corp. has agreed to sell a 70% stake in its South Korea-based subsidiary Halla Visteon Climate Control Corp. (HVCC) to Hahn & Co. and Hankook Tire for around $3.6 billion.
2014 in review: A year of record-setting
Strong capital markets facilitate bumper exit activity; pan-regionals, venture capital dominate fundraising; China’s leads revival in growth capital investment, with Korea still buyout central
BlackRock PE leads $300m round for Korea’s Coupang
BlackRock Private Equity Partners has led a $300 million round of funding for Coupang, South Korea’s largest online retailer. It has now raised nearly $500 million from private investors.
Samyang named as SCPE partner in Korean packaging deal
South Korean conglomerate Samyang Corporation has emerged as Standard Chartered Private Equity’s (SCPE) in the acquisition of a packaging business from another conglomerate, Hyosung Corporation.
Korean government’s Woori Bank sale flounders again
The South Korean government will make another attempt to sell its controlling stake in Woori Bank early next year following the collapse of the latest in a string of sale processes last week.
Goldman leads $36m round for Korean food-ordering platform
A Goldman Sachs-led consortium has invested KRW40 billion ($36 million) in Woowa Brothers Corp, owner and operator of Baedal Minjok, South Korea’s leading digital food-ordering platform.
Visteon confirms PE talks over Korea divestment
US auto parts maker Visteon Corp. has confirmed it is in negotiations with private equity firm Hahn & Co. over the potential sale of its South Korea-based subsidiary Halla Visteon Climate Control Corp. (HVCC).
Korean court favors Lone Star in $159m KEB tax case
Lone Star Funds is closing in on a KRW177.2 billion ($159 million) payout from the South Korea tax authorities after a court said the PE firm should be refunded taxes levied on its sale of a stake in Korea Exchange Bank (KEB).
Tencent, Line invest $110m in South Korean game developer
Chinese internet company Tencent Holdings and Japanese messaging app Line Corp. have invested $110 million in 4:33 Creative Labs, a South Korean, VC-backed mobile games developer.
Asian start-up hubs: Global mandates
Innovation hubs have traditionally been defined by the size of their immediately addressable market. But with better access to capital, information and technology, some Asian jurisdictions are going global
SCPE backs acquisition of Korean packaging business
Standard Chartered Private Equity (SCPE) is participating in the KRW415 billion ($396 million) acquisition of South Korean conglomerate Hyosung Corporation’s packaging business.
Korea's KnowRe raises $6.8m Series A from VC backers
SoftBank Venture Korea (SBVK) has a led a $6.8 million Series A investment in Seoul-based education technology start-up KnowRe.
Neuberger Berman Japan, Korea PE commitments top $1b
Japanese and South Korean investors now account for more than $1 billion of the committed capital managed by Neuberger Berman’s private equity division.
Bain leads $18m investment in Korean car-sharing service
Bain Capital has led a KRW18 billion ($18 million) Series A round of funding for Socar, a Korean car sharing company.
SoftBank to buy VC-backed online video site DramaFever
Japanese telecom giant SoftBank has agreed to buy DramaFever, a streaming video service that specializes in Korean TV shows and movies. Financial details were not disclosed.
Hahn & Co in $900m first close on second Korea fund
South Korean GP Hahn & Co – which was founded by Scott Hahn, formerly CIO of Morgan Stanley Private Equity Asia (MSPEA) – has reached a first close of approximately $900 million on its second fund.
Korea's KIC more than doubles PE exposure in 2013
Korea Investment Corporation’s (KIC) private equity investments more than doubled in size to $2.6 billion over the course of 2013 as total assets increased 27% year-on-year to reach $72 billion.
Standard Chartered PE backs garlic-themed restaurant in Korea
Standard Chartered Private Equity (SCPE) has led a $48 million joint investment in Mad for Garlic, a Korea-based Italian restaurant chain that has expanded into Southeast Asia.
Altos Ventures reaches $60m close on South Korea fund
Silicon Valley-based venture capital firm Altos Ventures has reached a final close on its debut South Korea-focused fund at a hard cap of $60 million after eight months in the market.
Korea’s SMBA to form VC fund with DFJ, Walden
Draper Fisher Jurvetson (DFJ) and Walden International have agreed to set up a $150 million venture capital fund with South Korea’s Small and Medium Business Administration (SMBA).
NPS, Macquarie-backed Megabox goes on sale
Megabox, the South Korean movie theatre chain 50% owned by a consortium including the Korean National Pension Service (NPS) and Macquarie Group, is being sold at auction.
Asian media giants form China-focused film and TV fund
Taiwan’s Fubon Group, Hong Kong's Media Asia and South Korean music giant SM Entertainment have established a media-focused fund to jointly invest in Chinese film and TV production.