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Source: Kolmar Korea |
[Alpha Biz= Kim Jisun] Seoul, South Korea – July 8, 2025 – Kolmar Holdings, the holding company of Kolmar Group, has issued a rebuttal in response to Kolmar BNH CEO Yoon Yeo-won’s public statement, escalating the dispute over the company's recent performance and leadership accountability.
In a statement released on July 7, CEO Yoon defended his position by highlighting the company's consistent revenue growth despite challenges in the health supplement market. “Even amid market stagnation following the COVID-19 pandemic, we achieved record-high consolidated revenue of KRW 615.6 billion in 2024,” Yoon asserted. “Calling for a CEO’s resignation despite this performance distorts the facts.”
He further argued that frequent leadership changes during market downturns hinder long-term strategic planning, adding, “I will remain committed to stable growth and sound management.”
Kolmar Holdings initially issued its position on July 1, announcing plans to reposition Kolmar BNH as a life science-focused entity and a core subsidiary of the group. The holding company cited a five-year decline in key performance indicators—including operating profit, stock price, and market capitalization—as grounds for the need to restructure.
According to Kolmar Holdings, Kolmar BNH’s standalone operating profit plummeted from KRW 95.6 billion in 2020 to KRW 23.9 billion in 2024—a 75% drop. The operating margin also fell from 17.8% to 5.1%. Meanwhile, market capitalization fell from KRW 2.12 trillion in August 2020 to KRW 425.9 billion as of June 30, 2025, and the share price dropped from KRW 70,000 to the KRW 10,000 range.
The holding company attributes the performance decline to CEO Yoon’s unilateral decision-making and lack of long-term vision, rather than external market conditions. “Over the past five years, two key executives have resigned, severely damaging the organization’s leadership and expertise,” Kolmar Holdings stated.
In its latest response, Kolmar Holdings criticized Yoon’s statement for selectively highlighting favorable figures. “Citing only partial performance data misleads investors and stakeholders,” it said. “Operating profit plunged from KRW 109.2 billion to KRW 24.6 billion, with the margin falling 78%—this is unequivocally a management failure.”
For comparison, Kolmar Holdings noted that rival company Nova Rex saw its revenue grow by 60.2% and operating profit by 133.3% over the same period. Other peers, such as Cosmax NBT, also outperformed Kolmar BNH in terms of profitability.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
