Kolmar Group has become the first cosmetics original development manufacturing (ODM) company to be designated as a large business group by the Fair Trade Commission (FTC), marking a milestone for Korea’s beauty manufacturing sector.
The designation comes after the group’s total assets exceeded 5 trillion won ($3.38 billion), meeting the threshold for companies subject to enhanced disclosure requirements. According to regulatory filings, Kolmar Group’s assets stood at 5.24 trillion won at the end of 2025. Key affiliates include Kolmar Korea with 1.53 trillion won in assets, HK inno.N with 2.10 trillion won, Kolmar Holdings with 546.1 billion won, and Kolmar BNH with 520.6 billion won.
The move highlights the rise of an R&D-driven manufacturing model that has underpinned the global expansion of K-beauty. While large conglomerate status in Korea has traditionally been dominated by consumer-facing brands, Kolmar’s inclusion reflects a structural shift in which technology-based manufacturers are gaining scale and influence.
Kolmar Group Founder and Chairman Yoon Dong-han (Courtesy of Kolmar Korea)
Founded in 1990 by Chairman Yoon Dong-han with four employees, Kolmar built its business by introducing the ODM model to Korea’s cosmetics industry, focusing on R&D rather than branding. The company later expanded into pharmaceuticals and health functional foods, evolving into a diversified beauty and healthcare group.
Under Vice Chairman Yoon Sang-hyun, the group has accelerated growth through business diversification and overseas expansion, combining the founder’s R&D-driven strategy with a second-generation push for scale.
The group’s growth has been driven by three core businesses: cosmetics, pharmaceutical biotech, and health functional foods. Kolmar Korea posted record consolidated revenue of 2.72 trillion won and operating profit of 239.6 billion won in 2025, achieving double-digit growth. HK inno.N surpassed 1 trillion won in annual revenue, supported by its new drug K-CAB (tegoprazan) and IV solutions business. Kolmar BNH recorded 574.9 billion won in revenue and is expanding into broader life sciences.
Kolmar said the designation is significant not only because it is the first for a cosmetics ODM company, but also because Kolmar reached the 5 trillion won asset threshold with a business model centered on manufacturing supply rather than consumer pricing. This underscores the growing industrial value of technology-driven cosmetics production.
"The milestone reflects both the founder’s long-term strategy and the current management’s execution, adding that the group will focus on improving growth and profitability through AI-based R&D and manufacturing innovation," an official at Kolmar Holdings said.
Kim Yoon-mi
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