Carlyle Buys Korea Home Appliance Co. for $700 Million (Correct)

Carlyle Group Inc. agreed to acquire Chung Ho Group, a South Korean home and health-care appliance rental platform, for $700 million, as rising inheritance-tax burdens in the country push more owners to sell, people familiar with the matter said.

Carlyle will buy as much as 100% of Chung Ho from members of the founding family after the company’s chairman died last year. The deal was driven by the need to fund a hefty inheritance tax bill and the lack of a qualified successor to take over management, the people said, asking not to be identified because the matter is ...