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Recent trends and regulations on private equity funds in Korea

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Frame of Image e investment funds through public offering. In this paper, we examine recent trend in private equity funds in Korea and their features from regulatory perspectives. We also explore future policy direction to help Korean financial market achieve greater efficiency and stability.
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2. Private Equity Funds in Korea 2.1. Private equity fund (PEF)
Private equity has a very broad and vaguely defined territory in financial nomenclature. We do not have the universally accepted definition for it. We consider two distinguished definitions of private equity fund on practical basis. The first definition focuses the way fund is raised and it is useful in legal and regulatory purposes. We call the first approach as definition of private equity fund from legal perspective. The second definition emphasizes the objects of investment private equity funds pursue and it is useful in understanding the investment behavior of private equity funds. We call the second approach as definition from economic perspective. Under the definition from legal perspective, private equity fund refers to fund that is raised through private placement instead of public offering and covers all forms of indirect investment vehicles other than the ones raised though public offering 3 . Therefore, one can include into private equity funds various forms of investment vehicles such as venture capital fund, buyout fund, distress fund (vulture fund) and hedge fund. Private equity funds are generally exempt from various regu


Full Text
Title Recent trends and regulations on private equity funds in Korea
Similar Titles
Material Type Reports
Author(English)

Park, Chang-Gyun; Hur, Seok-Kyun

Publisher

[Sejong, Korea]:Korea Development Institute

Date 2007-08
Pages 35
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Government and Law < Laws and Legislation
Holding Korea Development Institute