Korean Fund Wave Hits Japan

There are people aiming to bridge the gap between Korea and Japan with funds. The “Korean Wave Fund,” which takes Japanese capital to invest in Korean stocks, officially launched September 1. Also, Tokyo’s performance sector is planning to create a “Korean Performance Fund” to expand opportunities for Korean vocalists to enter the Japanese market.

“Korean Wave Fund” Manager Hujii-

French asset management branch Crédit Agricole Japan’s Hujii Satoko (36, photo) pays special attention to Korean stock market trends. The success of her newly launched “CA Resona Korean Wave Fund” depends the Korean stock market.

Investors put in 3,940,350,000 yen (about 39.4 billion won) the first time the fund called for investors from July 25-August 31. Considering the fact that the company’s “Grand China Fund” amounted to 1 billion yen, the amount for Korea Fund is astonishing.

“Japanese have thought of Korea as a close but far country, but investment has increased since the Korean Wave. The influence of popular Korean stars was as strong as the vision for the Korean economy,” Hujii said. “One of the reasons that the fund drew in a lot of money was because there have not been any funds, although Korea’s economy has grown and trade with Japan has increased. People will now increasingly invest in Korean stocks.”

“Korean Performance Fund” Manager Wajima-

Wajima Dotaro (42, picture) is managing the “Korean Performance Fund.” He works at the Voice Factory, a company that organizes performances, and has sponsored many Korean vocalists in Japan together with the Korean Council in Japan.

Many art fans and businesses in Japan will invest in performances by Korean vocalists in Japan and album production, and then will receive the profits. The fund will be launched sometime this year. One account for this fund is 1 million yen.

During the “Korea-Japan Friendship Year: To Be World-Famous Korean Opera Singers” performance in May at the Tokyo Opera City Concert Hall, a dozen Japanese people in the audience showed their willingness to take part in the fund.

Wajima said that he thought highly of the potential of Korean vocalists when he heard baritone Choi Hyun-soo’s CD seven years ago. He said, “Korean vocalists are international standard, but they are not recognized in Japan. They will be welcomed in the famously picky Japanese market once they are well recognized by the Japanese audience.”

Won-Jae Park parkwj@donga.com