"Toppling LG H&H, The 'No. 1 Wealthy Person in His 30s'"... How Did APR's Kim Byung-hoon Become the 'K-Beauty Emperor'?
"Most blue oceans are dead oceans. They are merely empty markets because consumers don't feel a need for them."
'Korea's wealthiest person in his 30s', 'K-Beauty Crown Prince', '36-year-old billionaire with ₩2.5 trillion in assets'. These all refer to one person: Kim Byung-hoon, CEO of beauty tech company APR. From starting his business in a semi-basement studio to surpassing the market capitalization of 25-year-old 'LG Household & Health Care' in just 10 years, and recently making headlines by purchasing a ₩29 billion penthouse in Seongsu-dong. We've delved into the secrets behind his dazzling success story.
1. "Dreaming of Becoming an Entrepreneur After Watching His Father"... Lessons from a Series of Startup Failures
Kim Byung-hoon began dreaming of 'his own company' in his second year of middle school, after seeing his father lose his job for political reasons. He enrolled in Yonsei University's Business Administration department with the goal of entrepreneurship, but his initial ventures, including a virtual fitting service and a dating app, all ended in failure.
However, through these failures, he learned the painful lesson that "there's a reason why others don't do it," and decided to directly create 'good products' that consumers truly wanted.
2. 'Medicube' and 'AGE-R'… Overturning the K-Beauty Landscape
In 2014, at the age of 25, Kim Byung-hoon started APR with just ₩50 million in capital. His formula for success was different.
- D2C Strategy: Instead of traditional distribution channels like department stores, he communicated directly with consumers through his own online mall and social media, reducing distribution margins and securing customer data.
- Home Beauty Device 'AGE-R': He precisely pinpointed the consumer need for "managing skin at home without going to a dermatologist!" 'Medicube's beauty devices, created with their own technology, became a global hit when overseas celebrities like Hailey Bieber and Kylie Jenner used them on TikTok.
Through these two strategies, APR successfully launched every brand they introduced, including Medicube (beauty), Nerdy (fashion), and Forment (fragrance), emerging as a new powerhouse in K-Beauty in just 10 years, breaking the 'duopoly' of Amorepacific and LG Household & Health Care.
The Life of a '₩2.5 Trillion Stock Billionaire': ₩29 Billion Penthouse and 'Celebrity S'
The life of the 'K-Beauty Emperor' is literally 'success' itself.
- Stock Assets: Holds a 31.35% stake in APR, with a current value of approximately ₩2.5 trillion, making him the 'No. 1 stock billionaire in his 30s'.
- Penthouse: Recently made headlines by purchasing a penthouse in **'Acro Seoul Forest', a high-end apartment in Seongsu-dong, Seoul, for ₩29 billion**.
Conclusion
He emphasizes a management philosophy that prioritizes 'product technology' and 'customer success', stating, "If you rely only on marketing without product quality, customers quickly catch on."
A fearless spirit of challenge and genuine dedication to customers. Could this be the secret that transformed a 36-year-old young man into the new emperor of K-Beauty?
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