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.”
J. Jason Shin
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.
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.
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.
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.
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.
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.
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 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 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 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 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 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 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 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 UniversityCLARKS 19942 Women s Black Caddell B071G3GD3S Ivy Slide Sandal Black Synthetic 5ff1923
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.
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.
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
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.