This article was displayed on the ChosunBiz MoneyMove (MM) site at 4:26 p.m. on Feb. 5, 2026.
BeLight Investment, the corporate venture capital (CVC) arm of Pharmgen Group, a pharmaceuticals manufacturing specialist, is actively moving to diversify the group's businesses. It has taken charge of the practical work for acquiring an aesthetic medical company for in-vitro diagnostics specialist Access Bio within the group, and at AJ Look, a K-beauty corporations jointly acquired with Pharmgen Science, it has even stepped in as management.
AJ Look is a K-beauty brand founded by the sister of J-Hope of the boy group BTS (CEO Jung Ji-woo), and in Jan., BeLight Investment and Pharmgen Science became shareholders.
According to the investment banking (IB) industry on the 5th, BeLight Investment recently began co-management of AJ Look, which operates the K-beauty brand "Niff Niff." About a month after investing in AJ Look with Pharmgen Science early this year, Han Dae-hee, head of investment management at BeLight Investment, became co-CEO.
In Jan., BeLight Investment participated in AJ Look's third-party paid-in capital increase worth 6 billion won, securing the position of the second-largest shareholder (27.3% equity). BeLight Investment, noting Niff Niff's potential for global expansion, decided to invest, with the group's flagship Pharmgen Science and BeLight each investing 3 billion won.
AJ Look drew market attention upon its founding in 2019. Its main products are clinically based, low-irritation skincare items, and alongside entries into Japan, Russia, and India, it also launched on Amazon, the world's largest e-commerce platform.
There is an assessment that BeLight Investment has designated AJ Look as a key investment target for expanding into the beauty business. Despite being a minority equity investment, it rose not as an outside director but as a co-CEO. Han, the division head, also serves as head of the future strategy division at Pharmgen Science, which formulates the group's strategy.
Han, the division head, is expected to embark on enhancing products by integrating Pharmgen Science's pharmaceutical production technology into Niff Niff beauty products. In addition, working with Access Bio, the group's in-vitro diagnostics specialist with a solid distribution network in the United States and other global markets, the company is also expected to push to expand sales channels in North America and beyond.
There is analysis that BeLight Investment, which started as a CVC to discover new growth engines for Pharmgen Group, has transformed into the group's mergers and acquisitions (M&A) division. Pharmgen Group has finalized a policy to build a so-called "total wellness platform" spanning beauty and medical beyond diagnostics and pharmaceuticals manufacturing, accelerating diversification M&A.
In fact, BeLight Investment is said to have handled the practical work for Access Bio's acquisition of management control of RF Bio, an aesthetic medical company, which was completed last month. Previously, BeLight Investment was also behind Access Bio's investment in AAC Holdings, operator of the skin aesthetic procedure specialist "MRED Clinic."
A source in the VC industry said, "BeLight Investment was established in May 2023 as an investment company to efficiently use the more than 300 billion won Access Bio earned from its diagnostics business during COVID-19," adding, "By the end of last year, its assets under management had already surpassed 148 billion won."