E-Land Group to get US$91 million fund injection

1 min readUpdated May 30, 2025Feb 7, 20183:37 AM

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Singapore’s sovereign wealth fund GIC has injected KW100 billion (US$91 million) into Korean retail major E-Land Group.

The round was part of a KW200 billion investment led by Hong Kong-based Anchor Equity Partners. With interests in malls, restaurants, theme parks, hotels and construction businesses, E-Land has built its cornerstone on fashion apparel.

This latest infusion of capital follows the Meritz Financial Group investing KW300 billion in the firm as part of a consortium led by Korea’s Keystone Private Equity last month. GIC has previously invested in E-Land – in 2009 it acquired an outlet of hypermarket Kim’s Club and the Gangnam branch of its NewCore Department Store. It subsequently leased them back to E-Land.

At the end of March last year, GIC was estimated to have assets under management of between US$359 and $398 billion.

GIC’s previous investments in South Korea include KW130 billion backing for cafe chain A Twosome Place.

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What this means

This substantial capital injection from GIC and Anchor Equity Partners signals strong institutional belief in E-Land Group's multifaceted retail and real estate strategy. Coming after Meritz's investment last month, it reinforces the company's resilience despite broader market challenges. This move will undoubtedly pressure competitors by enabling E-Land to consolidate its position, particularly in its core fashion apparel and mall operations. GIC's previous investments, like the A Twosome Place backing and earlier E-Land property acquisitions, suggest a calculated approach to South Korean retail. The primary risk lies in effectively integrating and deploying this capital for growth without diluting its existing successful ventures. Retailers should monitor E-Land's next major real estate acquisition or expansion announcement.

Sarah Chen · Retail News Asia newsroom

Questions & Answers

Who led the larger KW200 billion investment round that GIC participated in?

The KW200 billion investment round, which included GIC's contribution, was led by Hong Kong-based Anchor Equity Partners.

What is E-Land Group's core business, despite its diverse interests?

E-Land Group's core business, upon which it built its foundation, is fashion apparel, despite also operating malls, restaurants, hotels, and theme parks.

Has GIC invested in E-Land Group before this latest fund injection?

Yes, GIC previously invested in E-Land Group in 2009, acquiring a Kim's Club outlet and the NewCore Department Store's Gangnam branch, which it then leased back.

What was the estimated value of GIC's assets under management last year?

At the end of March last year, GIC's assets under management were estimated to be between US$359 billion and US$398 billion.

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