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The University of Suwon Business, Doctorate
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US$161M ▲ US$2M
Yoon founded Kolmar Korea in 1990 through a contract with Kolmar Japan after leaving Daewoong, a leading pharmaceutical company, which he helped grow from a small-sized firm, climbing from the bottom to become its vice president in 15 years.
It started out first as an original equipment manufacturer and has grown to be a manufacturer for more than 500 cosmetics brands including Estee Launder, L’Occitane, Missha and AmorePacific. Since its establishment, Kolmar Korea has recorded a double digit growth rate every year. In 2015, it posted annual sales over 1 trillion won.
After three years of manufacturing cosmetics on demand, Kolmar Korea developed a new business model called the ODM network, developing technologies and designs on its own. It is the largest in Korea and the second largest in the world – with 15 percent market share in 2015.
It has expanded to include 16 affiliates in the areas of cosmetics, pharmaceutical and functional health food.
Yoon’s son Sang-hyun, who is being groomed to take over the company, takes the vice chairmanship of Kolmar Korea Holdings, a holding company of Kolmar Korea.