Park Jin-hai primarily focuses on K-dramas, entertainment shows and actor interviews. Beyond that, she also pens articles covering the broader arts scene, with a particular emphasis on classical music, dance and various aspects of lifestyle. Since joining The Korea Times in 2013, she has made significant contributions in the realms of hallyu (Korean wave), industry news and international affairs.
Emerson Pacific to receive W180 billion investment from China
An outdoor pool at the Ananti Club Seoul in Gapyeong, Gyeonggi Province
By Park Jin-hai
By Park Jin-hai
Lee Man-keu, CEO of Emerson Pacific Group
Emerson Pacific Group, a golf and resort operator widely known for its Ananti chain of resorts, will receive a 180 billion won ($16 billion) investment from China’s largest private investment company China Minsheng Investment Corp, according to the company Sunday.
The China Minsheng Investment Corp, with capital of 8.9 trillion won and over 60 private companies as share holders, invests in industries ranging from finance and insurance to leasing, aircraft and real estate.
In its first investment in Korea, its affiliate CM International Capital will take part in the allocation of a capital increase through a special purpose company. The amount is the largest Chinese investment into a Korean listed company, not targeting acquisition of the firm’s managerial rights, said Emerson Pacific.
It has been actively acquiring undervalued assets in the world including most recently a 2.5 trillion won acquisition of Sirius International Insurance Group.
Emerson Pacific expects that its partnership with CM International Capital, which has pan-global business networks in ten countries, will bring the company more opportunities to expand its global footprint.
“We received the investment based on trust we built in the local market and our development potential. We believe the time when we have a good performance is the best time to think about future growth engines,” said Emerson Pacific Group CEO Lee Man-keu. “Partnered with CM International Capital with great influence in the Chinese community, we expect our Ananti brand will grow into a life-style brand in Asia.”
Emerson Pacific currently operates the Ananti Club Seoul in Gapyeong, Gyeonggi Province; Hilton Namhae Golf and Spa Resort in South Gyeongsang Province; Emerson Golf Club in North Chungcheong Province and Sejong Emerson Country Club in South Chungcheong Province. The company also operated Kumkang Ananti Golf and Spa Resort, an 18-hole golf course and resort complex just north of the demilitarized zone
The company’s Ananti Penthouse in Gapyeong awaits opening, while Ananti Penthouse in Haeundae and Hilton Busan Hotel are currently under construction for a 2016 opening.
It posted 47.2 billion won in sales last year, with operating profits of 10.1 billion won. Its first-half sales this year have double from a year earlier, recording 48.6 billion won with 19.7 billion won in operating profits during the time, a whopping 994 percent rise year-on-year.