Dongwon to Acquire First-Generation Cosmetics Firm 'Charmzone'... "Securing New Growth Engine"

Dongwon Home Food Selected as Final Preferred Bidder for Charmzone
First M&A Attempt Since Kim Namjeong Became Chairman in 2024
Dongwon: "We Are Participating in the Acquisition, but Nothing Has Been Finalized"

Dongwon Group is seeking to acquire Charmzone, a first-generation cosmetics company.

According to industry sources on September 30, Dongwon was selected as the final preferred bidder for Charmzone, which is undergoing court-managed sale proceedings under the supervision of the Seoul Bankruptcy Court, on September 22.

Founded in 1984, Charmzone has recently suffered chronic management difficulties due to weakened brand competitiveness and disputes over management control. The company filed for corporate rehabilitation with the court in November 2025 and received approval for commencement of rehabilitation proceedings in December of the same year.

Dongwon Group has proposed that Dongwon Home Food, its food distribution affiliate, will acquire Charmzone. The acquisition is expected to be worth several tens of billions of won.

If no prospective buyer presents better conditions in the future public tender, Dongwon will be finalized as the acquirer after obtaining court approval.

If the acquisition is confirmed, Dongwon, which started out in the fisheries industry and has since expanded into food, packaging, and logistics, is expected to establish a new growth foundation by securing a cosmetics brand and production facilities.

This will also mark the group's first external merger and acquisition (M&A) since Kim Nam-jeong was appointed chairman in March 2024.

Dongwon Group has expanded its business through active M&A in recent years. Since his promotion to vice chairman in 2014, Chairman Kim has led major company acquisitions such as Geumcheon and Dongbu Express, as well as technology investments.

A Dongwon Group official stated, "It is true that we have participated in the bidding process, but nothing has been finalized yet as the procedures are still ongoing."

This content was produced with the assistance of AI translation services.