EQT is making a big bet on South Korea’s future of work. The global investment firm has agreed to acquire a controlling stake in Remember & Company, the AI-enabled HR tech platform often called the “LinkedIn of Korea”, in a deal worth KRW 500 billion (USD 400 million). It’s one of the largest HR tech transactions in Korean history.
Major shareholder Ark & Partners will sell its stake as part of the transaction, which EQT negotiated exclusively—skipping the typical bidding war—by spotting Remember’s growth potential early.
From Business Cards to AI Recruiting Powerhouse
Founded in 2013 as a business card management app, Remember has morphed into a dominant recruitment and professional networking platform, serving 5 million users and 10,000 enterprise clients. Its AI-driven talent matching and proprietary database of 500 million self-updating name cards give it a precision edge in hiring—particularly in a market where LinkedIn hasn’t gained significant traction.
Beyond recruitment, Remember now offers content-driven networking, CRM capabilities, and lead generation tools. In just three years under Ark & Partners’ ownership, revenue has grown twelvefold.
Why EQT is Buying In
South Korea’s HR market is ripe for disruption, driven by demographic shifts, demand for experienced hires, and a surge in AI-powered recruitment tools. EQT has already backed notable HR tech names globally, including Beamery (UK), HRBrain (Japan), Handshake (US), and PageUp (Australia).
“Remember is uniquely positioned at the intersection of demographic change and AI-driven talent management,” said Dayea Yeon, EQT Partner and Head of Private Capital Korea. “Our goal is to help it become Asia’s leading HR tech platform.”
A New Era for Korean HR Tech
For Ark & Partners, the deal validates its “secondary growth buyout” playbook—taking promising startups and turning them into scaled, strategic assets for global investors. CEO Sungmin Kim called the transaction a “new-generation deal” linking Korea’s venture scene with its private equity market.
The Bottom Line
In a country where hiring is increasingly competitive, Remember’s combination of AI precision, professional networking, and market dominance could make it a springboard for regional expansion. With EQT’s capital and global network, the “LinkedIn of Korea” is aiming to become the “LinkedIn of Asia.”
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