Yesterday, according to report, Kolmar Group founder and Chairman Yoon Dong-han has filed a lawsuit against his son, Yoon Sang-hyun, seeking the return of millions of shares gifted to him in 2019. The case, lodged on May 30 in the Seoul Central District Court, exposes deep familial tensions at the top of the cosmetics and pharmaceuticals powerhouse.
Yoon is demanding the return of 4.6 million shares in Kolmar Holdings Co.—roughly 13.4% of the company and nearly half of his son’s 31.75% stake. These shares were initially transferred to Yoon Sang-hyun as part of what the father claims was an implicit succession plan. Kolmar Holdings is the parent company of Kolmar Korea Co., a key ODM partner for international beauty giants like Estée Lauder.
At the center of the dispute is an intensifying power struggle between Yoon Sang-hyun, who serves as Vice Chairman of Kolmar Holdings, and his sister, Yoon Yea-won, CEO of the group’s health supplement arm, Kolmar BNH Co. The battle over leadership has grown into a full-blown succession crisis, dragging in not only the family but also external investors and legal institutions.
The patriarch asserts that the 2019 share gift was contingent upon a family agreement that split business control—cosmetics and pharmaceuticals to the son, and health supplements to the daughter. However, Yoon Sang-hyun has allegedly violated this pact by pushing to overhaul the board of Kolmar BNH and potentially seize control of the group’s most profitable business unit. His camp recently filed a legal petition to convene an extraordinary shareholders’ meeting at Kolmar BNH, proposing new board appointments, including himself.
Meanwhile, shares of Kolmar Holdings soared by the daily limit of 30% after news of the legal filing broke, reflecting investor speculation that the lawsuit could spark a broader restructuring or shift in control at the family-led conglomerate.
