Egongegong raises ₩30 billion convertible bond investment from Hyosung

What's the deal? Egongegong, a South Korean K-beauty brand accelerator and commerce company, is raising ₩30 billion (about $21 million) from HyosungDealroom has a profile for this one. Try Dealroom → through convertible bonds. The pre-IPO financing values Egongegong at about ₩200 billion.

What does Egongegong do? The company helps Korean beauty brands reach overseas customers through e-commerce and distribution. Its work has included brands such as Gahi, It's Skin and Laneige, with sales channels including Amazon.

Why now? The investment gives Hyosung exposure to K-beauty commerce while preserving the option to convert the bonds into shares and invest further as Egongegong progresses towards an IPO. It also aligns with the group's stated interest in developing new growth businesses, including cosmetics through Hyosung TNCDealroom has a profile for this one. Try Dealroom →.

Read more: ChosunBiz

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