GDK Cosmetics Venture Capital
2 known investors
South Korean cosmetics OEM founded in 2003, making sheet masks, containers and tubes for K-beauty brands.
Also known as GDK Cosmetics · GDK Cosmetics Co., Ltd.
Investors · 2
Company profile
researched Aug 2026GDK Cosmetics is a South Korean cosmetics OEM (original equipment manufacturing) company founded in 2003. It began as a specialist manufacturer of sheet mask packs and, under private equity ownership, broadened its product line into basic cosmetics categories including containers and tubes, supported by facility investment that expanded production capacity.
The company manufactures on contract for domestic and international beauty brands. Reported production volumes rose from 9.1 million containers in 2022 to 24.7 million in 2024, tubes from 3.8 million to 10.8 million over the same period, and mask packs from 22.7 million to 36 million. Consolidated sales were reported at KRW 51 billion with operating profit of KRW 7.3 billion for the most recent full year cited, following cumulative third-quarter figures of KRW 40 billion in sales and KRW 6.5 billion in operating profit in the prior reporting year.
Business model
Contract manufacturing for cosmetics brand owners on an OEM basis, producing sheet masks and basic cosmetics packaged in containers and tubes.
Revenue from manufacturing and supplying cosmetics products to brand customers under OEM arrangements.
Traction
Container output reported at 24.7 million units in 2024 versus 9.1 million in 2022; tube output at 10.8 million versus 3.8 million; mask pack output at 36 million versus 22.7 million. Customer base broadened beyond L&P Cosmetics to include Medihill, Amway and AmorePacific.
Latest developments
Lindman Asia Investment, working with a strategic investor that is a subsidiary of a domestic listed company, signed a share purchase agreement to acquire the 54.68 percent stake held by Walkins Co., with the consortium reported to have invested about KRW 100 billion for the holding.
▸Full profile — market position, go-to-market, geography, history
Market position
Described as one of the leading cosmetics OEMs in South Korea, with an enterprise value estimated in reporting at between KRW 100 billion and KRW 200 billion amid renewed M&A interest in K-beauty manufacturers.
Go-to-market
Domestic and overseas cosmetics brand owners; named customers include L&P Cosmetics, Medihill, Amway and AmorePacific.
Geography
Operations based in South Korea, supplying domestic and overseas brand customers.
History
Founded in 2003 as a mask pack OEM specialist. In 2016 the company was reported to be negotiating the sale of a majority stake to private equity firm Quintessa Investment, with roughly 56 percent of shares comprising a 44 percent holding of founder Kim Sung-ho and 12 percent held by L&P Cosmetics, at a reported value of around KRW 100 billion. JKL Partners, Quintessa Investment and Heimdal Private Equity acquired the company in 2016 through a special purpose corporation, Walkins Co., holding a 54.68 percent stake; GDK was an investment of JKL Partners' third blind fund. Performance was affected by the China THAAD dispute and a limited customer base before improving from 2020. A sale process for the Walkins stake was launched, and Lindman Asia Investment subsequently signed a share purchase agreement to acquire the 54.68 percent holding.
Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 4
launches, deals, and filingsPrivate equity manager Lindman Asia Investment, together with a strategic investor that is a subsidiary of a domestic listed company, signed a stock purchase agreement to acquire the 54.68% stake in GDK Cosmetics held by Walkins Co., investing about KRW 100 billion.
JKL Partners, Quintessa Investment and Heimdal Private Equity began contacting potential buyers to sell the 54.68% stake held by SPC Walkins Co.; enterprise value was estimated at KRW 100–200 billion.
GDK Cosmetics was reported to be negotiating the sale of a roughly 56% stake — 44% held by founder Kim Sung-ho and 12% held by L&P Cosmetics — to private equity firm Quintessa Investment for about KRW 100 billion.
A consortium of private equity managers acquired GDK Cosmetics in 2016, holding a 54.68% stake through the special purpose corporation Walkins Co. GDK was an investment of JKL Partners' third blind fund.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 4
primary sources listed
- As K-beauty is attracting attention around the world, related companies are also actively trading in.. - MKmk.co.kr · web
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does GDK Cosmetics Venture Capital do?
- South Korean cosmetics OEM founded in 2003, making sheet masks, containers and tubes for K-beauty brands.
- Who are GDK Cosmetics Venture Capital's investors?
- GDK Cosmetics Venture Capital's investors include IMM Investment Japan, Kiwoom Investment.