FROM: Daesung Group

Daesung Private Equity Creates
20 billion KRW Daesung CT Investment Fund

[July 13, 2011] Daesung Private Equity announced on the 13th that it had created a Daesung CT investment fund that invests mainly in “Korean wave” (Hallyu) contents such as television dramas, games, and K-pop concerts.

The investment fund, worth 20 billion KRW, will last for 7 years. This fund consists of Daesung Private Equity (2 billion KRW, 10%), Korea Venture Investment Corp's Korea Fund of Funds (8 billion KRW, 40%) and 4 general investors.

Daesung CT investment fund plans to invest in contents with high export competitiveness in order to continue to stoke the flames of Hallyu fervor.

Park Jae-min, Director of Fund Management at Daesung Private Equity, stated "In order for Korean cultural contents to strengthen their competitive edge in the global market, production budgets must be secured from the planning stage in order to increase the quality of the contents. Daesung CT investment fund targets production and development companies that create drama, games and performances with good prospects in order to enhance the competitive edge of Korean culture contents. In addition, this fund will add more economic value to these contents, thereby increasing their competitive advantages."

Daesung Private Equity formed its first entertainment fund, 'BiNEXT' in 2003 and had invested 19 billion KRW by 2007 in Korean movies such as 'Old Boy,' 'Welcome to Dongmakgol,' 'Marathon,' 'The Host,' ‘The War of Flowers’ and etc. The entertainment fund was successfully liquidated in 2009. In addition, it created a 17 billion KRW game fund in 2007, a 12 billion KRW music fund and a 16 billion KRW TV content fund in 2008. Therefore, Daesung Private Equity is taking a lead in investing in developing cultural contents in a wide range in genres including music, drama and games.

Park added, "From now on, as Daesung Private Equity becomes a specialist in the cultural contents sector, it plans to expand its investment not only in the production but also in the delivery of these contents that are accessible to the global market.

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