Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li><em><strong>The launch of the first CJ Olive Young cosmetics stores in Pasadena, California, could serve as a positive catalyst for the Korean cosmetics industry/CJ Corp for two key reasons. </strong></em></li>
<li>First, nearly 80%+ of the cosmetic brands that are sold at the Olive Young stores will be Korean cosmetic brands (especially from SMEs).</li>
<li>Second, CJ Corp owns a 51.2% of CJ Olive Young. A successful expansion of Olive Young stores in the U.S. will have a major positive impact on CJ Corp. </li>
</ul>


The launch of the first CJ Olive Young cosmetics stores in Pasadena, California, could serve as a positive catalyst for the Korean cosmetics industry/CJ Corp for two key reasons. 
First, nearly 80%+ of the cosmetic brands that are sold at the Olive Young stores will be Korean cosmetic brands (especially from SMEs).
Second, CJ Corp owns a 51.2% of CJ Olive Young. A successful expansion of Olive Young stores in the U.S. will have a major positive impact on CJ Corp. 


Launch of the First CJ Olive Young Cosmetics Store in Pasadena, CA - Why Is This A Key Catalyst?

<ul>
<li>In this insight, we discuss how Olive Young is likely to be a serious long-term threat to Ulta Beauty (ULTA US) (market cap of US$22.3 billion) in the United States. </li>
<li>CJ Corp is the largest shareholder of CJ Olive Young. On 19 November, CJ Olive Young announced that it plans to open its first store in California in May 2026.</li>
<li>There is a growing probability that CJ Olive Young could successfully grow its business in the US, especially due to the continued strong demand for Korean cosmetics.</li>
</ul>


In this insight, we discuss how Olive Young is likely to be a serious long-term threat to Ulta Beauty (ULTA US) (market cap of US$22.3 billion) in the United States. 
CJ Corp is the largest shareholder of CJ Olive Young. On 19 November, CJ Olive Young announced that it plans to open its first store in California in May 2026.
There is a growing probability that CJ Olive Young could successfully grow its business in the US, especially due to the continued strong demand for Korean cosmetics.


Ulta Beauty Vs CJ Olive Young (Let the Rumble Begin)!

<ul>
<li>This insight is a book review of 주주 권리가 없는 나라 (A Country Without Shareholder Rights), which is one of the best books on the corporate governance in Korea.</li>
<li>There are so much wisdom that are included in this book. The author really goes into details about numerous corporate governance problems in Korea and ways to fix them.</li>
<li>This book was published in January 2024 and it was written by a famous Korean retail investor called Park Young-Ok.</li>
</ul>


This insight is a book review of 주주 권리가 없는 나라 (A Country Without Shareholder Rights), which is one of the best books on the corporate governance in Korea.
There are so much wisdom that are included in this book. The author really goes into details about numerous corporate governance problems in Korea and ways to fix them.
This book was published in January 2024 and it was written by a famous Korean retail investor called Park Young-Ok.


A Country Without Shareholder Rights (주주 권리가 없는 나라) - A Book Review

Cross Asset Strategy

<ul>
<li>FSS provided further details as to the number of Korean companies that plan to change their dividend payout system to their shareholders in 2024.</li>
<li>There are 636 companies out of a total 2,267 listed companies in Korea (28%) that have confirmed that they will change their dividend payout system starting 2024.</li>
<li>As listed companies set different voting rights and dividend record dates from the end of the year, investors need to check the dividend record date and dividend amount before investing.</li>
</ul>


FSS provided further details as to the number of Korean companies that plan to change their dividend payout system to their shareholders in 2024.
There are 636 companies out of a total 2,267 listed companies in Korea (28%) that have confirmed that they will change their dividend payout system starting 2024.
As listed companies set different voting rights and dividend record dates from the end of the year, investors need to check the dividend record date and dividend amount before investing.


FSS Provides Further Details of Korean Companies That Plan to Change Dividend Payout System in 2024

<ul>
<li>Sephora recently announced that 19 OLIVE YOUNG curated Korean cosmetic brands will become available at 500+ Sephora stores in the U.S. and at Sephora.com.</li>
<li>Unlike the semiconductor sector where the industry cyclicality is highly volatile, the global consumers' preference for Korean cosmetics could well last much longer for the next 3-5 years. </li>
<li>Korean cosmetics exports reached a record high of $7.0 billion in 1H 2026, up 27.3% YoY. The primary export destinations were the US at $1.45 billion (up 41.5% YoY).</li>
</ul>


Sephora recently announced that 19 OLIVE YOUNG curated Korean cosmetic brands will become available at 500+ Sephora stores in the U.S. and at Sephora.com.
Unlike the semiconductor sector where the industry cyclicality is highly volatile, the global consumers' preference for Korean cosmetics could well last much longer for the next 3-5 years. 
Korean cosmetics exports reached a record high of $7.0 billion in 1H 2026, up 27.3% YoY. The primary export destinations were the US at $1.45 billion (up 41.5% YoY).


Olive Young Partners With Sephora to Target 500+ Stores With 19 Curated Korean Cosmetic Brands

South Korea

CJ Corp. is an investment holding company.  The Company, through its subsidiaries, manufactures processed food products.  The subsidiaries' products include refined sugar, monosodium glutamate (MSG), condiment, wheat powder, flour, cooking oil, processed meats, and animal feed.

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CJ Corp (001040 KS)

Launch of the First CJ Olive Young Cosmetics Store in Pasadena, CA - Why Is This A Key Catalyst?

The launch of the first CJ Olive Young cosmetics stores in Pasadena, California, could serve as a positive catalyst for the Korean cosmetics...

Douglas Kim

Ulta Beauty Vs CJ Olive Young (Let the Rumble Begin)!

On 19 November, CJ Olive Young announced that it plans to open its first store in California in May 2026. Olive Young is likely to be a serious...

Douglas Kim

A Country Without Shareholder Rights (주주 권리가 없는 나라) - A Book Review

This insight is a book review of 주주 권리가 없는 나라 (A Country Without Shareholder Rights), which is one of the best books on the corporate governance in...

Douglas Kim

FSS Provides Further Details of Korean Companies That Plan to Change Dividend Payout System in 2024

There are 636 companies out of a total 2,267 listed companies in Korea (28%) that have confirmed that they will change their dividend payout system...

Douglas Kim

Olive Young Partners With Sephora to Target 500+ Stores With 19 Curated Korean Cosmetic Brands

Recent major partnership between Sephora and CJ Olive Young, the strong export growth of Korean cosmetics in 1H26, and the recent outperformance of...

Douglas Kim

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