Theme park operator Vaunce CEO sells shares worth W23.5b
[THE INVESTOR] Vaunce Korea CEO Kim Yeo-jin has sold his entire stake in indoor theme park chain Vanunce Trampoline Park for 23.5 billion won (US$22.08 million) to local builder IS Dongseo, according to industry sources on March 12.
Vaunce Trampoline Park, which currently runs five outlets, has been making rapid growth in just two years since the first opening by locating the indoor playgrounds in department stores and hypermarkets to fill parents’ demand.
Vaunce Korea CEO Kim Yeo-jin
The first indoor trampoline theme park was launched in Yongin, Gyeonggi Province, in 2016.
IS Dongseo nabbed the deal as it wants to create synergy with its existing construction business.
Kim is well-known in Korea for starting milk tea franchise Gongcha in Korea in 2012. She did not have any experience operating a business before opening the milk tea chain. After opening more than 200 Gongcha outlets in two years, she sold a 65 percent stake in the company for 34 billion won in 2014 to global private equity firm Unison Capital.
“I am good at picking and starting a business that can grow. But I do not have the ability to expand a business further once it fully matures.” Kim said in a statement, adding that that she is now eyeing education-related businesses here.
By Song Seung-hyun (email@example.com)