Jay-Z, the renowned 'King of Hip-Hop' and producer, who is also known as the husband of pop star Beyoncé, is setting up a fund worth KRW 700 billion to invest in Korean cultural industries such as K-pop, K-food, and K-beauty. This is expected to facilitate the further expansion of Korean cultural industries overseas.

On the 9th, Hanwha Asset Management announced that it has agreed to establish a private equity fund worth USD 500 million (approximately KRW 730 billion) with Marcy Venture Partners, a U.S.-based venture capital firm co-founded by Jay-Z, professional investor Jay Brown, and Robby Robinson. Hanwha Asset Management and Marcy Venture Partners signed a memorandum of understanding (MOU) at the 'Abu Dhabi Finance Week 2025' held in Abu Dhabi, UAE, starting on the 8th (local time). Marcy Venture Partners also stated in a press release, "We have signed a contract with Hanwha Asset Management to establish a strategic joint venture 'Marcy Venture Asia,'" adding, "Marcy Venture Partners will hold a majority stake in Marcy Venture Asia, and an investment team based in Seoul will lead and operate the company."

The private equity fund to be established is expected to be invested in companies related to Korea's cultural industries, such as K-pop (music), K-food (food), and K-beauty (cosmetics). As K-culture gains significant attention in the global market, private equity funds investing in these industries have emerged.

Kim Jong-ho, CEO of Hanwha Asset Management, stated, "This is the first time a private equity fund is entering the K-culture sector." The fund aims to discover promising companies and connect them with global capital to facilitate their growth. Marcy Venture Partners is highly regarded for its expertise in the cultural industry, owning global entertainment companies and beauty brands.

The Financial Times (FT) of the UK reported on the MOU, stating, "Groups like 'BTS' and 'Blackpink' are filling venues worldwide, and content like 'Squid Game' and 'K-pop Demon Hunters' is dominating streaming platforms, captivating global audiences," and added, "The fund plans to attract investments from institutional investors, sovereign wealth funds, and high-net-worth individuals starting in the second half of next year (July-December)."

CEO Kim stated, "This will be an opportunity for Korean companies to enter the global market." Robinson, CEO of Marcy Venture Partners, emphasized, "Korea is Asia's cultural hub leading global trends in beauty, content, food, and entertainment," and added, "We will actively seek investment opportunities in innovative companies in the Asian region."

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