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🇰🇷 South Korea /Economy & Trade

Cosmax Group Heir Lee Byung-man Becomes Largest Shareholder of Holding Company

From Chosun Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Documents & data Context piece
  • Lee Byung-man, vice chairman and the second-generation owner of Cosmax Group, has become the largest shareholder of the holding company Cosmax BTI.
  • He took over the majority stake from Seo Sung-seok, the wife of the group's founder.
  • This ownership change signifies a transition in leadership within the prominent cosmetics ODM company.

A significant shift in ownership has occurred at Cosmax BTI, the holding company of the renowned cosmetics original design manufacturer (ODM) Cosmax Group. Lee Byung-man, vice chairman and heir apparent to the Cosmax empire, has officially become the largest shareholder, taking the reins from Seo Sung-seok.

According to disclosures filed with the Financial Supervisory Service's electronic disclosure system (DART), Seo Sung-seok, who is also the wife of Cosmax founder Lee Kyung-soo, transferred her majority stake. This move marks a generational transition within the leadership of the influential beauty industry player.

Lee Byung-man, who also serves as the CEO of Cosmax, now holds the largest share in Cosmax BTI. The transfer involved related entities, including the company SS&Y, indicating a structured handover of control within the group's corporate framework.

This change in the largest shareholder signals a new chapter for Cosmax Group, positioning the second-generation leadership to guide the company's future strategy and operations in the competitive global cosmetics market.

DistantNews Editorial

Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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