The Export-Import Bank of Korea said Wednesday it will invest 12.5 billion won ($8.7 million) to support the global expansion of Jung Saem Mool Beauty, a leading Korean cosmetics brand.
The state-run lender will participate as a key partner in a 50 billion won fund managed by private equity firm CLSA Capital Partners Korea. The fund will acquire redeemable convertible preference shares issued by the company, which offer bond-like stability with potential equity upside.
Founded in 2014 by makeup artist Jung Saem-mool, the brand specializes in color cosmetics inspired and informed by her more than 30 years of experience. Driven by hit products such as cushion foundations, the company posted revenue of 110.9 billion won in 2024.
Eximbank said the investment is aimed at helping small and mid-sized K-beauty companies grow into global brands. The funds will be used to open overseas stores and establish local subsidiaries in North America, supporting expansion in key markets including the US, Japan and Southeast Asia.
The bank also noted that the investment will be made through newly issued shares, directly injecting capital into the company. This differs from typical private equity deals that focus on acquiring existing shares to secure management control rather than funding growth.
“With the revision of the Export-Import Bank of Korea Act allowing for overseas equity investments, we aim to establish investment as a key pillar of policy finance alongside loans and guarantees,” an Eximbank official said. “We are committed to supporting K-beauty brands in expanding their global influence.”
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