VIG Partners (formerly known as Vogo Investment Group), founded in 2005, has comprehensive experience and expertise in the Korean mid-market buyout sector, with successful track records across a diverse range of industries, including financial services, consumer goods, online and mobile commerce, and household appliances.

Since its inception in 2005, VIG Partners has invested over $1.5billion of capital across 14 portfolio companies in Korea, with shareholding control in 11 of these companies.

The firm’s investments include BKR (master franchisee of Burger King), Samyang Optics (leading interchangeable lens manufacturer), Bodyfriend (#1 massage chair manufacturer), Enuri.com (leading e-commerce portal), Mcorset (leading underwear manufacturer), Winche (leading PVC window manufacturer), Hi Parking (leading parking management service provider), Joun Life (leading funeral service provider), Tong Yang Life Insurance, (#5 largest life insurer), BC Card (Largest credit card processing company) and Novita (leading electronic bidet manufacturer).

“VIG Partners is

the leading private equity firm in Korea

focusing on mid-market buyouts.”

VIG Partners has formulated and has been implementing a successful strategy of executing proprietary, control transactions in the Korean mid-market segment at disciplined entry multiples with well-prepared value up initiatives.

VIG Partners aims to create a high return for investors by investing in companies with strong fundamentals and actively engaging in creating value through hands on management.

VIG Partners has developed its investment strategy over the past 10 years, having been active in the Korean private equity market since its formation in 2005, and has demonstrated the ability to execute control-oriented investments with proven value creation capabilities.

“VIG Partners has formed and executed

a robust, repeatable investment strategy based on

its extensive experience in Korea”

VIG Partners’ investment philosophy is characterized by thorough “top-down” market research that allows the firm to identify industries and companies that are resilient to short-term market moves with long-term growth potential, and a hands-on approach to creating value through active involvement in managing its investments.

This investment strategy allows VIG Partners to source and execute investment opportunities in medium-sized, typically founder-owned and operated businesses, and help these businesses achieve accelerated growth by providing capital and hands on operating support. It also allows VIG Partners to uncover “hidden jewels” - undermanaged mid-sized businesses or non-core assets in large conglomerates - and helping these companies reach their potential through focused management, proper incentivization and clear strategic objectives.

“VIG Partners aims to

invest in companies with strong fundamentals

and actively engage in their management

to create value.”

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Byungmoo Park

J. Jason Shin

Chulmin Lee

Songwook An

Dr.Yangho Byeon

Sang-Yoon Lee

Sunhee Ha

Hongsook Yoo

Kijung Kang

Jonghyun Bae

Changhoon Shin

Younggi Han

Sungmin Kim

Bright Kim

Byungmoo Park
MANAGING PARTNER

Joined VIG Partners in 2011, and has been working extensively in Korean private equity industry, both in the capacity of a legal advisor and as a principal, for many years. Prior to joining VIG Partners, Mr. Park served as the Country Head of Korea and Partner for TPG Asia (Newbridge Capital) from 2003, where he was responsible for a number of successful private equity investments, including those in Korea First Bank (“KFB”) and Hanaro Telecom. Mr. Park was responsible for Newbridge’s successful exit of KFB to Standard Chartered Bank and Hanaro to SK Telecom, and served as CEO of Hanaro, executing a complex turnaround and helping the company launch the first successful IPTV platform in Korea. Prior to working at Newbridge, Mr. Park founded and served as the CEO of Plenus Entertainment, which was the largest entertainment business in Korea at the time. In addition, Mr. Park had a distinguished legal career before being a principal investor and entrepreneur, having served as a Senior Partner at Kim & Chang, where he was recognized as one of the leading corporate M&A lawyers in Korea.

Mr. Park received an LLM from Harvard Law School and a Masters of Law from Seoul National University. Mr. Park graduated as a top undergraduate student from Seoul National University and has also received an MBA from Yonsei University.

J. Jason Shin
MANAGING PARTNER

Mr. Shin co-founded Vogo, the predecessor of VIG Partners (both known as the “Firm”), in 2005. Mr. Shin sits on the investment committee of the Firm and is responsible for sourcing proprietary investment opportunities and overseeing execution of new investments and exits. He also acts as the primary partner in charge of several portfolio companies where he serves as the head of their management committees, in addition to serving on their boards, and leads the close monitoring of their operational and financial performances.

Mr. Shin brings extensive experience as one of Korea’s leading M&A bankers during his years at Morgan Stanley and Credit Suisse First Boston. Mr. Shin also has significant legal experience as a lawyer with Baker & McKenzie and Kim & Chang prior to becoming an investment banker 16 years ago. Prior to joining VIG Partners, Mr. Shin was a Managing Director and the Head of Morgan Stanley’s Korea investment banking group and is credited with the execution of many of Korea’s landmark M&A transactions, which totalled over $12 billion, including the sale of Chohung Bank to Shinhan Financial Group, the sale of Korea Exchange Bank to Lone Star, the sales of Korea and Daehan Investment Trust Companies, the sale of Tong Yang Cement to Lafarge Group, the acquisition of Seoul Bank by Hana Bank, the acquisition of Daewoo Heavy Machinery by Doosan Group, the acquisition of Hyundai Investment Trust Company by Prudential Financial, and the acquisition of Internet Auction by eBay Inc.

Mr. Shin earned a JD from the University of California, Berkeley Law School and holds a BA with honors from Northwestern University.

Chulmin Lee
MANAGING PARTNER

Founding member of VIG Partners, where he joined in 2005. Mr. Lee worked as a Senior Project Leader at the Boston Consulting Group (“BCG”) for five years, engaged in numerous post-merger integration, operational improvement, strategy development, commercial due diligence, and corporate restructuring projects. Mr. Lee managed most of BCG’s M&A and post-merger integration projects in Korea, including overseas strategic investments and cross-border post-merger integrations. Mr. Lee’s experience spans various industries, including industrial goods, financial services, consumer electronics, and telecommunications.

Mr. Lee holds an MBA from the Fuqua School of Business at Duke University, and graduated with a BS in Computer Science and Statistics from Seoul National University.

Songwook An
MANAGING PARTNER

Founding member of VIG Partners, where he joined in 2005. Mr. An has 19 years of experience including nine years of transaction execution and business analysis experience from the investment banking and consulting sectors prior to joining VIG Partners. Before joining VIG Partners, Mr. An was a member of Morgan Stanley Korea’s Investment Banking Division and Credit Suisse First Boston’s M&A team, where he was involved in numerous landmark M&A transactions in Korea. Mr. An also worked as a team leader at management consulting firm Softbank nPlatform and led a number of diverse strategy development, M&A, and corporate restructuring projects for leading domestic clients.

Mr. An graduated from Korea University with a BS in Statistics.

Dr.Yangho Byeon
SENIOR ADVISOR

Yangho Byeon is one of the founders of Vogo, the predecessor of VIG Partners. Prior to co-founding Vogo in 2005, Mr. Byeon spent his entire career with Korea’s Ministry of Finance and Economy, where he played a key role in significant landmark restructuring projects, including engineering the restructuring of Korea’s sovereign debt as well as Korea’s corporate and financial sectors following the Asian financial crisis and the successful privatization of several of Korea’s largest commercial banks. Mr. Byeon’s last position was the Deputy Minister of the Ministry of Economy and Finance. In 2001, Mr. Byeon was recognized by the Wall Street Journal as one of the “15 Most Influential People in the World Economy.”

Mr. Byeon received his PhD in Economics from Northern Illinois University and his BA in Economics from Seoul National University.

Sang-Yoon Lee
SENIOR EXECUTIVE DIRECTOR, CRO

Founding member of VIG Partners, where he joined in 2005. Mr. Lee has 14 years of experience in private equity investing from VIG Partners and H&Q Asia Pacific’s Korea branch. Mr. Lee was one of the first private equity professionals in Korea and is experienced in all stages of investment activities, from evaluation of investment opportunities, to developing transaction structures, and closing transactions. Mr. Lee also has broad experience in investment in various industries, including telecommunications, financial services, and consumer electronics.

Mr. Lee holds an MBA from Harvard Business School and a BA in Business Administration from Seoul National University.

Changhoon Shin
EXECUTIVE DIRECTOR

Founding member of VIG Partners, where he joined in 2005. Mr. Shin was at BCG where he focused on investment opportunity evaluation projects in various industries, and also gained considerable experience in M&A transactions through numerous due diligence projects. Mr. Shin also has experience in fundraising, business plan development and implementation from his two-year experience at SynerNet, an enterprise solution development start-up.

Mr. Shin received his BA in Business Administration from Seoul National University.

Sunhee Ha
EXECUTIVE DIRECTOR, CFO

Sunhee Ha is an Executive Director and the Chief Financial Officer at VIG Partners. Prior to joining the Firm in 2014, Ms. Ha was CFO at Woori Private Equity in Seoul. Prior to Woori Private Equity, Ms. Ha worked as a Certified Public Accountant at Samil PWC in Seoul.

Ms. Ha received a BA in Business Administration from Yonsei University.

Younggi Han
DIRECTOR

Younggi Han is a Director at VIG Partners. Mr. Han worked as an Associate at Credit Suisse’s Investment Banking Division, where he focused on the financial services and consumer retail industries. Mr. Han has extensive experience in mergers & acquisitions, capital markets transactions, and deal execution, including financial modeling and due diligence.

Mr. Han holds a BA in Business Administration from Seoul National University.

Hongsook Yoo
DIRECTOR

Hongsook Yoo is a Director in the finance department at VIG Partners and is in charge of VIG Partners’ accounting and treasury functions. Prior to joining the Firm in 2005, Ms. Yoo worked at Hansset Global Advisors and has extensive experience in tax, accounting, treasury and fund administration.

Ms. Yoo holds a BA in Business Administration from Sookmyung University.

Sungmin Kim
VICE PRESIDENT

Sungmin Kim is a Vice president at VIG Partners. Prior to joining VIG Partners in 2012, Mr Kim worked as part of the Global Investment Research team at Goldman Sachs.

Mr Kim holds a BA in Business Administration from Korea University.

Kijung Kang
SENIOR ASSOCIATE

Kijung Kang is a Senior Associate at VIG Partners. Prior to joining VIG Partners in 2014, Mr Kang worked as part of the Investment Banking Division at Merrill Lynch where he was responsible for M&A execution and equity market transactions.

Mr Kang holds a BA in French Literature from Seoul National University.

Bright Kim
ANALYST

Bright Kim is an Analyst at VIG Partners. Prior to joining VIG Partners in 2016, Mr. Kim worked as an analyst at Barclays Investment Banking Division, where he was responsible for M&A and capital markets transactions.

Mr. Kim holds a BS in Finance and Business Economics from New York University Leonard N. Stern School of Business

Jonghyun Bae
ANALYST

Jonghyun Bae is an Analyst at VIG Partners. Prior to joining VIG Partners in 2016, Mr. Bae worked as an analyst at Bank of America Merrill Lynch’s Investment Banking Division, where he was responsible for M&A and capital markets transactions.

Mr. Bae holds a BA in Economics and International Comparative Studies from Duke University

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FUND III
Joun Life

Established in 2005, Joun Life is a leading funeral service (“Sangjo”) provider, which offers both at-need and pre-need Sangjo products. Pre-need Sangjo customers make monthly payments in advance to prepare for future funeral of their family member.

VIG Partners currently holds a 84% stake in the Company.

DATE OF INVESTMENT – NOV 2016
FUND III
Autoplus

Established in 2000, Autoplus is a leading used car retailer and auto-service provider. Autoplus is also the only company in Korea that sells certified pre-owned (“CPO”) cars for domestic automobile brands.

VIG Partners currently holds c. 100% stake in the Company along with co-investors.

DATE OF INVESTMENT – MAY 2017
FUND II
BKR

BKR is the exclusive operator of the Burger King franchise in Korea, which is one of the leading nationwide burger quick service restaurant franchises in Korea. The Company also has Food Ingredient business, which is a B2B redistribution business of various imported food ingredients.

VIG Partners sold its controlling stake to Affinity Equity Partners, a leading private equity firm in Asia, in April 2016

DATE OF INVESTMENT - NOV 2012
FUND II
Samyang Optics

Established in 1976, Samyang Optics is one of only six companies globally that manufacture a complete lineup of interchangeable lenses for DSLR and mirrorless cameras and occupies a profitable niche among the serious photographers and videographers as the high performance manual focus lens alternative to higher priced auto-focus lenses.

VIG Partners currently holds a 100% stake in the Company.

DATE OF INVESTMENT - AUG 2013
Zhuanglin Womens Lightweight Aqua Water Shoes Beach Sneakers Lightgrey# , Lxso Men Women Water Shoes Slip On Quick Dry Beach Shoes Lightweight Swim Shoes with Drainage Holes Black , Freashine Women s Light Weight Sport Water Shoes Woven Elastic Trainers Comfort Walking Shoes Red GOMNEAR Mutifunctional Water Swimming Shoes Quick Drying Men Women Barefoot Aqua Surfing Socks Slip-On Walking Lightweight Shoe Blue Sky , Men Women Water Shoes Quick-Dry Barefoot Aqua Socks Shoes for Swim Beach Pool Surf Yoga Sport Rose , AMAWEI Water Shoes for Kids Women Boys Girls Quick Dry Beach Swim Surf Shoes for Pool Sport Walking Silver , QLEYO Water Shoes Quick Dry Shoes for Men and Women Barefoot Skin Shoes Beach Water Shoes for Swim Yoga surf Style31 Northside Kids Brille Gray/Coral , QLEYO Men and Women Water Sports Shoes Barefoot Quick-Dry Multifunctional Sneakers with Drainage Holes M2-black Focussexy Unisex Lightweight Barefoot Quick-Dry Slip-On Water Shoes For Beach Pool Sand Swim Surf Yoga Water Aerobics 304-red , Bopika Barefoot Shoes Water Sports Shoes Quick-Dry Aqua Yoga Socks for Women Men Kids Pink , XPKWS Water Shoes Womens Mens Quick Drying Aqua Mesh Lightweight Beach Sports Shoe for Boys Girls Blue , Sockwa Playa Hi Beach Socks Lime LOUECHY Finet Men s and Women s Barefoot Water Shoes Quick-Dry Aqua Socks for Swimming Surf Yoga Yellow , Voovix Mens Womens Water Shoes Barefoot Aqua Shoes Water Sandals for Beach Swim Black , AUTUWT Summer Outdoor Water Shoes Aqua Sports Skin Shoes Classic Barefoot Shoe for Beach Swim Surf Yoga white FCKEE Water Shoes Aqua Shoes Slip-on Barefoot Lightweight Quick-Dry Drainage Durable Sole Women Men T-yellow welltree Unisex Women s & Men s Quick Drying Breathable Mesh Aqua Water Shoes 2-rose Red Centipede Demon Womens Water Shoes House Shoes Office Flats Mens Quick Drying Barefoot Footwear Aqua Socks Pure White CIOR Women Men s Quick-Dry Water Sports Aqua Swimming Shoes Socks 06.pink , Northside Brille II Water Shoe (Toddler/Little Kid) Dark Purple Centipede Demon Womens Water Shoes House Shoes Office Flats Mens Quick Drying Barefoot Footwear Aqua Socks Mint Green FCKEE Water Shoes Aqua Shoes Slip-on Barefoot Lightweight Quick-Dry Drainage Durable Sole Women Men D-grey DODOING Water Shoes Mens Womens Quick Dry Sports Aqua Shoes Unisex Swim Shoes For Swim,Walking,Yoga,Lake,Beach,Garden,Park,Driving,Boating Rose , Quiksilver Men s Amphibian Plus Athletic Water Shoe Grey/Grey/White , OUYAJI Mens Womens Comfortable Water Shoes Barefoot Quick Dry Beach Playing Boating Underwater Swimming Yoga Shoes Flower Grey , VIFUUR Water Sports Shoes Barefoot Quick-Dry Aqua Yoga Socks Slip-on for Men Women Kids Rainbow BARKOR Water Shoes Mens Womens Beach Ultralight Wading Unisex Adults Sea Bathing Shoes Pink Columbia Men s Bahama Vent Relaxed PFG Leather Casual Boat Shoes Steam-Steel
FUND II
Enuri

Enuri is an online price comparison service provider for online and mobile shopping customers in Korea, which currently is the #2 player in the Korean market. Enuri currently has four subsidiaries including Xgolf - online golf reservation service, SweetTracker - mobile parcel tracking service, ShallWeAd - mobile advertising platform, and ShipGet - overseas direct purchase service.

VIG Partners currently holds a 80% stake in the Company.

DATE OF INVESTMENT - APR 2014
FUND II
M Corset

M Corset is the leading innovator within the Korean innerwear industry with a portfolio of licensed and proprietary brands including Wonderbra, Playtex, Lefee and Missing Dorothy.

VIG Partners currently holds a 21% stake in the Company.

DATE OF INVESTMENT - AUG 2014
FUND II
Bodyfriend

Bodyfriend is the dominant player in the Korean massage chair industry with the preeminent brand in the industry supported by unrivalled marketing and advertisement spending. Bodyfriend also launched premium latex mattress and non-electric water purifiers to drive additional growth.

VIG Partners currently holds a 90% stake in the Company along with co-investors.

DATE OF INVESTMENT - APR 2015
adidas Originals Women s Eezay Flip-Flop Vapour Grey White/Easy Yellow S , Milwaukee Leather Men s 6" Classic Engineer Boot Round Toe Wide - Mbm9040w Black , Georgia Boot Men s Loggers G7313 Work Boot Brown , RUNSOON Men Women Quick Dry Water Shoes Summer Lightweight Beach Aqua Shoes for Swim Pool Surfing Yoga Black Lucchese Bootmaker Men s Zane Western Boot Barnwood/Tan Burnished Ariat Men s Stock Show Western Cowboy Boot Brandy Full Quill Ostrich/Royal Tobacco Women s Ballroom Dance Shoes Tango Wedding Salsa Shoes 6027EB Comfortable-Very Fine 3[Bundle of 5] Party Party Velvet Evening Dress Pump Collections, Comfort Wedding Shoes: Women Ballroom Dance Shoes, Medium Heel, Tango, Smooth, Standard Rocky Men s 8 Inch Retraction 800G Hunting Boot Mossy Oak Break Up Country Camoflauge , FRYE Women s Veronica Short Dark Brown Soft Vintage Leather-76509 Sanuk Women s Big Bootah Winter Boot Natural Boho , Roper Women s Arrows Western Boot Brown Inornever Women s Mid-Calf Boots Low Heel Casual Wide Calf Round Toe Slip on Boots Fashion Ankle Buckled Light Brown TOMS Women s Majorca Peep Toe Mid Calf Boot Black Suede Perforated Skechers Women s Relaxed Living-Comforter Mule Gray , Crocs Kids Classic Clog Khaki , New Balance Men s MX608v4 Training Shoe Chocolate Brown Sanita Women s Davia Platform Sandal Black , A&N Ladies Metal Buckles Chunky Heels Platform Urethane Oxfords Shoes Black , Bella Vita Women s Talina II Harness Boot Grey Burnish Novel Harp Knee High Boots For Women Wide Calf Faxu Suede Zipper With Buckles Size US5-10.5 Black , Brinley Co Women s Bailey-Wc Riding Boot Black Wide Arche Women s Lilly Flat Sand Ollio Women s Shoe Mesh Glitter Comfort Ballet Flat Style2-green Hush Puppies Women s Chaste Ballet Flat Leopard , Sam Edelman Women s Rodney Ballet Flat Blue Shadow Silk Dupioni , Fairy Tail Canvas Shoes Cosplay Shoes Sneakers White White 3 , Propet Women s Washable Walker Evolution Oxford Berry/Blue , Odema Women s Leather Oxfords Perforated Lace-up Wingtip Low Heel Carving Brogue Dress Shoes Oxfords Pink Blue , DC Men s Villain TX Slip-on Skate Shoe White/Black Basic
FUND II
Winche

Established in 1994, Winche is the only PVC window and sliding glass door manufacturer in Korea that has full in-house capabilities from window profile production to window fitting.

VIG Partners currently holds a 100% stake in the Company along with co-investors.

DATE OF INVESTMENT - DEC 2015
FUND II
Hi Parking

Hi Parking is a leading parking facility management company, which has been newly established through a spin-off of parking business from Hi Inno Service

DATE OF INVESTMENT - MAY 2016
FUND I
Tong Yang Life Insurance

Established in 1999, Tong Yang Life is Korea’s leading mid-sized life insurer with one of the highest profitability and growth rates in the industry. Tong Yang Life has particular competitive strength in children’s insurance and bancassurance. On the basis of robust historical results, the Company became the first life insurer to go public in Korea in October 2009.

VIG Partners sold its controlling stake to Anbang Insurance, one of China’s leading insurers, in September 2015.

DATE OF INVESTMENT - MAY 2006
FUND I
Novita

Novita is a leading Korean small household appliance manufacturer. Novita holds the second largest market share in the Korean electronic bidet market, and it also exports bidet to Japan, China, and Taiwan. In addition, Novita also manufactures humidifiers for both domestic and export markets.

VIG Partners sold its controlling stake to Kohler in December 2011.

DATE OF INVESTMENT - DEC 2006

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FUND I
iriver

Iriver is a Korea-based digital multimedia device manufacturer. Iriver is a market leader in HiFi portable audio devices, which began production in 2013. Iriver also provides HiFi audio content.

VIG Partners sold its controlling stake to SK Telecom in August 2014.

DATE OF INVESTMENT - DEC 2007
FUND I
LG Siltron

Siltron is a manufacturer of silicon wafer mainly used for semiconductors. Siltron, a major supplier to both Samsung Electronics and Hynix, is the only silicon wafer manufacturer based in Korea, and is one of the five major global wafer manufacturers.

DATE OF INVESTMENT - DEC 2007
FUND I
BC Card

BC Card is the most recognized credit card brand in Korea, and is also the largest domestic credit card merchant network manager and payment services company. The Company provides an end-to-end credit card business processing platform that encompasses card issuance, authorization, billing, merchant management, brand management, product development and marketing to its various domestic financial institution customers.

VIG Partners sold its controlling stake to Korea Telecom in January 2012.

DATE OF INVESTMENT - DEC 2009
LOCATION
E-MAIL
TEL
FAX
16th Fl. AIA Tower,
16 Tongil-ro 2-gil, Jung-gu,
Seoul 04511, Korea
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contact@vigpartners.com
+82 2 - 3788 - 0700
+82 2 - 3788 - 0730