Global investment firm Carlyle announced it has signed a definitive agreement to acquire up to 100% of Chung Ho Group, a leading Korean home and healthcare appliance rental platform. The investment will be made through funds affiliated with Carlyle Asia Partners, the firm’s Asia buyout platform. Financial terms of the transaction were not disclosed.
The deal is a proprietary, succession-driven transaction between Carlyle and members of the Joung family, the company’s current shareholders. The acquisition is expected to close in the third quarter of 2026, subject to customary regulatory approvals and closing conditions.
Founded in 1993 by the late Dr. H.D. Joung, Chung Ho has grown from a water purifier manufacturer into a vertically integrated home and healthcare appliance rental platform in South Korea. The company operates across product rental, filter and component manufacturing, installation, and after-sales services. Its portfolio includes premium water purifiers, air purifiers, bidets, mattresses, and other home healthcare products, supported by a nationwide service network and a recurring customer base.
Carlyle believes Chung Ho is positioned to benefit from long-term demand for health and wellness-focused home appliances and the continued adoption of subscription-based consumer services. Following the acquisition, Carlyle plans to invest further in the company’s brand and product innovation capabilities.
John Kim, Chairman of Carlyle Korea for Carlyle Asia Partners, said the firm views Chung Ho as one of Korea’s leading water purifier and home appliance companies, supported by strong brand recognition and product expertise. He added that Carlyle looks forward to leveraging its global network and operational experience to strengthen the company’s market position and support future growth.
Icksoo Jung, Head of Carlyle Korea for Carlyle Asia Partners, said the investment highlights Carlyle’s ability to provide solutions for complex ownership and succession transitions involving founder-led businesses in Korea. He noted that the firm expects succession-related transactions to become increasingly important within the Korean market.
Dr. Kyung Eun Lee, Chairwoman of Chung Ho Group, said the company has spent more than three decades delivering high-quality products and services while helping pioneer Korea’s premium water purifier and home appliance market. She added that the partnership with Carlyle will help preserve the legacy of founder H.D. Joung, continue driving innovation, and create additional value for customers and employees.
Carlyle has maintained a long-standing presence in South Korea and has invested more than $4 billion in the country over the past two decades. Its previous Korean investments include KB Financial Group, Kakao Mobility, A Twosome Place, Hyundai Glovis, and KFC Korea.
KEY QUOTES:
“We believe Chung Ho is one of the leading Korean water purifier and home appliance companies, underpinned by strong brand equity and product capabilities. We are excited about the opportunity to partner with Chung Ho and to leverage Carlyle’s experience and global network to further strengthen the company’s market position and support its next phase of growth.”
John Kim, Chairman of Carlyle Korea, Carlyle Asia Partners
“This succession-driven investment underscores Carlyle’s ability to provide solutions in complex ownership and succession transitions for founder-led businesses in Korea. Carlyle has a deep understanding and strong expertise in navigating such transitions, which we believe will become increasingly important in the Korean market.”
Icksoo Jung, Head of Carlyle Korea, Carlyle Asia Partners
“For more than three decades, Chung Ho has focused on delivering reliable, high-quality products and services to Korean consumers and has pioneered the premium water purifier and home appliance market. We believe this partnership with Carlyle will help the company build on Chairman H.D. Joung’s legacy, continue to innovate, and create greater value for Chung Ho’s customers and employees.”
Dr. Kyung Eun Lee, Chairwoman, Chung Ho Group
