Korean Entertainment Agency Attract
Korean entertainment agency Attract has succeeded in securing investment from Singapore’s Evergreen Group Holdings.
The company announced on Aug. 31 that it has received a major investment from Evergreen Group Holdings. The exact amount of the investment has been kept under wraps.
Evergreen Group Holdings invested in Attract in the form of a third-party allotment, valuing the company at 60 billion won. Attract was previously valued at 60 billion won when it issued convertible bonds (CBs) to listed Korean companies Hansae and Yes24 in May.
“We are very pleased to have this investment relationship,” said David Yong, CEO of Evergreen Group Holdings. “We decided to invest because we highly value Jeon Hong-jun’s entertainment planning and execution capabilities and his vision for Attract.”
Previously, Jeon met with Yong on May 25 to sign a memorandum of understanding (MOU). Evergreen Group Holdings will directly invest in Attract and will later receive an investment of 10 billion won from a leading Singapore fund to further invest in Attract.