EQT Acquires Remember from Arc & Partners for KRW 500 Billion

HR platform 'Remember' is being recognized with an enterprise value of approximately 500 billion won and will welcome global investment firm EQT as its new largest shareholder. The existing largest shareholder, private equity firm Ark & Partners, will sell its entire 47% stake to EQT, and this transaction is expected to be finalized by Q3 2025. Remember started as a business card management app in 2013 and has now established itself as Korea's leading business platform with 5 million users. It provides business card and career management, as well as community services to individuals, and offers recruitment and marketing solutions utilizing AI and extensive talent data to companies, thereby innovating the domestic HR market. In particular, it has increased the speed and accuracy of recruiting excellent talent through its talent scouting platform and AI-based headhunting services. Following Ark & Partners' investment, Remember recorded remarkable growth. In just three years, it increased its revenue more than 12-fold, from 5.8 billion won to 68.4 billion won, reduced its operating loss of 9.2 billion won by more than half to 4.2 billion won, and successfully turned a profit in June, achieving a monthly operating profit of over 2.5 billion won. This performance is attributed to the strategic acquisition of six companies, including expert networks, recruitment platforms, and headhunting firms, diversifying its business portfolio. Remember's new partner, EQT, is a global investment firm managing assets worth 400 trillion won, with extensive investment experience and expertise in the HR tech sector. EQT decided to invest, highly valuing Remember's unique competitiveness and growth potential amidst structural changes in Korean society, such as demographic shifts, increasing demand for experienced professionals, and the adoption of AI-based recruitment solutions. Based on EQT's strong capital, global network, and HR tech expertise, Remember plans to accelerate AI technology advancement, product diversification, and expansion into overseas markets. Choi Jae-ho, CEO of Remember, stated, "We will realize our founding ambition of creating Asia's LinkedIn together with EQT," and Yeon Da-ye, Korea CEO of EQT, also emphasized her ambition to "grow Remember into Asia's top-tier HR tech company and lead the global HR tech industry." This change in ownership is expected to be a significant turning point for Remember to leap beyond Asia and become a global HR tech company.