Memebox splits CEO role into global and domestic

Memebox, a Korean beauty start-up, appointed Lee Kang-wook as its new co-CEO in charge of the company’s domestic business on Wednesday.

He will share the role with Ha Hyung-seok, the start-up founder who had been serving as the sole CEO. Ha will focus on expanding Memebox’s global business.

“I believe Memebox, which utilizes mobile and digital well in the face of the fourth industrial revolution, could be a future leader in the global consumer goods industry,” Lee said in a statement. “I will try my best to lead innovation at Memebox.”

Lee has experience consulting consumer goods companies at Bain & Company and Boston Consulting Group. The 39-year-old studied mechanical engineering at Seoul National University and received an MBA from Stanford University.

Memebox started in 2012 as an online shopping platform dedicated to Korean beauty products. It now sells around 1,800 global cosmetics and lifestyle brands. The company has even launched its own cosmetics line sold in brick-and-mortar stores around Seoul.

The K-beauty start-up is now advancing into the United States, China and Southeast Asia. It has six global offices with a staff of 550.