Face masks can moisturise, exfoliate, or soothe and cool the skin in minutes. They can also build billion-dollar fortunes
, but that takes a tad longer -- two years in Kim Jung-woong's case.
In 2017, Unilever spent 2.27 billion euros to acquire most of skincare products maker Carver Korea Co., buying out stakes held by Goldman, Bain Capital and founder Lee Sang-rok. Lee, 45, is worth $US900 million, according to the Bloomberg Billionaires Index. In 2017, South Korea allowed the US military to install the Terminal High Altitude Area Defense system to counter North Korean nuclear threats. Beijing interpreted that as a move against its own security interests, and state-run news outlets urged boycotts of Korean products.
The company introduced a new product, the Honey Luminous Royal Propolis Mask, and expanded into Korean duty-free shops. GP Club's lower prices attracted so-called daigou shoppers -- people buying products for clients in mainland China, where access to foreign goods is limited and prices are higher.
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