Brooklyn-born billionaire Shawn “JAY-Z” Carter and his investment firm, MarcyPen Capital Partners, are expanding into Korean culture through a targeted $500 million partnership with South Korea’s Hanwha Group. The collaboration was announced during Abu Dhabi Finance Week, according to the Financial Times, and reflects continued global interest in K-pop and the broader influence of Korean entertainment and lifestyle industries.
The partnership will be overseen by MarcyPen Asia, based in Seoul, alongside Hanwha Asset Management, the financial arm of Hanwha Group. Together, the firms plan to focus on investments tied to culture-driven sectors, including entertainment, beauty, food, fashion, and content, positioning South Korea as a strategic entry point for broader Asian and global expansion.
“South Korea is a cultural nexus of Asia, influencing global trends in beauty, content, food, entertainment, and lifestyle, making it the ideal gateway for our partnership with Hanwha,” said Robbie Robinson, managing partner and CEO of MarcyPen, in a written statement.
The two entities plan to raise additional capital in the second half of 2026, targeting institutional investors, sovereign wealth funds, and high-net-worth individuals. The effort builds on what is widely known as the “Korean wave,” a cultural export phenomenon that has generated more than $31 billion globally. Bernie Cho, president of Korean music export agency DFSB Kollective, noted that cultural exports are now South Korea’s second-largest consumer goods category after automobiles.
Jong-Ho James Kim, CEO of Hanwha Asset Management, highlighted the opportunity for Korean companies to scale internationally with outside capital. He noted that while many Korean firms rely on internal funding, third-party investment could significantly accelerate global growth.
MarcyPen Capital Partners was formed last year following the merger of Marcy Venture Partners, co-founded by JAY-Z; and Pendulum Opportunities, the investment arm of Pendulum Holdings. Based in the United States, MarcyPen manages roughly $1 billion in assets, focusing on early-stage consumer and innovation-driven businesses rooted in culture.
The move marks another international expansion for JAY-Z, following reports earlier this year that he and Beyoncé purchased a 58-acre estate in England’s Cotswolds, further signaling the couple’s growing global footprint beyond music and entertainment.
