Goodai Global, the beauty company best known for its "Beauty of Joseon" brand, has appointed Koo Chang-keun, former CEO of CJ ENM, as its new co-CEO, the company said Friday. Since its founding in December 2016, Goodai Global had maintained a sole leadership structure under CEO Cheon Joo-hyuk, but shifted to a co-CEO system for the first time in its 10-year history.
Koo, a graduate of Seoul National University's economics department, is a management expert who worked as an analyst at Dongwon Economic Research Institute, Korea Investment & Securities, and Samsung Securities before joining CJ Group, where he served as CEO of CJ Foodville, CJ Olive Young, and CJ ENM. During his tenure as CEO of CJ Foodville from 2017 to 2018, he spun off the cafe brand A Twosome Place, establishing a multi-brand business structure. Later, as CEO of CJ Olive Young, he achieved the transformation of Olive Young into an omnichannel beauty platform.
"Goodai Global already holds brands that have fully proven their potential in the global market," Koo said. "I will lead business expansion so that this outstanding brand portfolio can extend further into the global market."
Cheon, CEO of Goodai Global, said, "With co-CEO Koo Chang-keun joining, we are now able to further strengthen our global distribution strategy and management system." He added, "We will write a new chapter for K-beauty together."
Meanwhile, Goodai Global is preparing for an initial public offering (IPO) next year. Earlier this year, it selected Mirae Asset Securities as lead underwriter, with NH Investment & Securities, Citigroup Global Markets Securities, and Morgan Stanley as joint underwriters. Analysts expect the company could file for a preliminary listing review as early as the second half of the year. Goodai Global posted consolidated revenue of 1.4718 trillion won and operating profit of 273.4 billion won last year, up 295% and 98% from a year earlier, respectively.
