COSMAX Group has reorganized the management structure of its major subsidiaries. The eldest son of founder Lee Kyung-soo, President Lee Byung-man will manage the business company, while the younger son Lee Byung-joo will lead the holding company.
COSMAX announced on the 27th that it will appoint Lee Byung-man, former CEO of COSMAX BTI, as the representative director of COSMAX, and Lee Byung-joo, who is both the CEO of COSMAX and the representative of COSMAX BTI, as the representative of the holding company COSMAX BTI.
Representative Lee Byung-man joined COSMAX in 2005, oversaw overseas marketing at COSMAX BTI from 2016, and has served as the representative of COSMAX since 2020. After being appointed as the holding company representative in 2023, he led digital businesses such as customized cosmetics, which are future growth engines, and the institutional sector of health functional foods.
Representative Lee Byung-man plans to strengthen core businesses within the group alongside current CEO Choi Kyung. In particular, he is pushing for a 'second leap' in China. Currently, he is diversifying customer companies in China, which number over 1,100, and aims to target the 100 trillion-won Chinese cosmetics market through the operation of a new building being constructed in Shanghai by 2026.
Representative Lee Byung-joo has been promoting customer diversification since 2014 while serving as the chief financial officer (CFO) and chief operating officer (COO) of COSMAX USA. Since taking on the role of COSMAX representative in 2023, he has expanded the platform for domestic customers' entry into Japan and the U.S., focusing on expanding K-beauty exports in the overseas sales sector, leading to the achievement of the '2 million dollar export tower.'
Representative Lee Byung-joo is expected to collaborate with Heo Min-ho, a distribution expert from CJ Group and CEO of COSMAX BTI. Furthermore, as the representative of the holding company, he plans to strengthen the control tower role of 'Global One COSMAX.' Global One COSMAX is a system that streamlines the ability to respond to global customers by enabling real-time communication of research, development, and production capabilities among six domestic and foreign subsidiaries, including Korea.
A COSMAX Group official noted, 'The new representatives have contributed to the growth of the group's core businesses based on their expertise, and we believe that the existing representatives, along with external appointees, will create new synergies for the globalization of K-beauty and the growth of the group.'