This tale becomes part of Forbes’ record on South Korea’s wealthiest 2025. See the complete listing below

The expanding K-Beauty boom has actually led Jung Sung-jae, creator of charm tools manufacturer Classys, to South Korea’s 50 wealthiest listing with an approximated profits of $760 million.

With the enhancing appeal of cosmetics and charm tools in South Korea, the business’s supply cost has actually increased by greater than 50% over the previous year. Aesthetic exports in South Korea boosted by $10.2 billion year-on-year in 2024, according to the nation’s Ministry of Food and Medication Security. In 2024, Classys’ profits got to 243 billion won (US$ 170 million) from greater than one-third of its profits a year back, with 67% of which originated from abroad markets, while internet profits boosted by 32% to 98 billion won in the exact same duration.

Headquartered near the high end Gannan in Seoul, Classys was established in 2007 by previous skin doctor Jung. The business is marketed to health centers and charm facilities in greater than 80 nations and straight to customers in “MICTRAINTY” (MICLASSIDE) in Australia, Brazil, Thailand, Thailand and our front runner items (Ultra-formers Mepts). (HIFU) gadgets give a non-invasive technique to tighten up and raise the skin by regrowing neocollagen.

In 2022, Bain Resources Private Supply acquired a 60% risk from Jung and his other half Lee Yeon Joo (Lee Yeon-Joo) and their 2 youngsters for 670 billion won (concerning $560 million at the time). Quickly after the offer, Jung handed the business’s ins ropes to Baek Seung-Han, chairman and chief executive officer, to place it as a far better use Bain Resources’s international network in development overseas. The cash money from the share sale make up the majority of Jung’s riches, while the family members keeps a minority.