The “Korean wave” of cultural influence, or hallyu in Korean, is taking Asia by storm. In China alone, Korean K-drama actors like Song Joong-ki and YoonA and members of Korean boy bands like EXO are A-list celebrities.
Private equity firm Bain Capital plans to ride that wave, using Korean brands’ popularity to sell the products of its portfolio companies to China’s burgeoning middle class.
“Koreans have become leaders in developing new products, new technology, new ways to consume, ways to improve one’s own self-image and wellbeing,” said Jonathan Zhu, managing director of Bain Capital, in an interview with FinanceAsia.
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