What HLB Global does

HLB Global Corp. (에이치엘비글로벌주) is a South Korea-based, KOSPI-listed (ticker 003580) diversified holding company that has evolved from a 1962 coal-mining enterprise into a multi-brand consumer products and bio platform. The company operates across three segments: Commerce (kombucha, honey, beauty, massage devices, automotive accessories, camping gear, pet care), Bio (metabolic disease, immuno-oncology, drug development through HLB Life Care, HLB Therapeutics, HLB Biostep and minority stakes in Elevar, Immunomic, and Verismo), and Education (early childhood development via Papaduck/ModernPaPas).

The company's commercial core is I'm Alive Kombucha, produced by 93.3%-owned subsidiary Freshco — operator of Asia's largest kombucha production facility using a proprietary, patented 506-hour (≈21-day) fermentation process with organic green tea, black tea, and organic cane sugar. The portfolio includes 17+ consumer brands (I'm Alive, AMAN, Spa-r, Elishacoy, Purplish, Miin Silok, Jomad, Carmim, Urban Concrete, ModernPaPas, HLB Life Care, Tetraforce, Hey Brand, Selflish, Onerbe, Ettes, Petpickus, Mo Care), complemented by a forest carbon offset business (~847 ha, ~9,500 tons CO2/year) and media commerce operations (post TI Corporation merger). Revenue is generated primarily through domestic e-commerce (Naver Smart Store, owned sites), department stores (Hyundai), convenience stores (GS25, CU), home shopping (CJ ONSTYLE), and B2B kombucha OEM, with international expansion via INDOGUNA into Singapore and Malaysia.

The business model centers on M&A-driven brand acquisition and scaling: HLB Global acquired Freshco (2019), TI Corporation (2023), and Barabio/HLB Life Care (2024) to diversify revenue streams. K-IFRS consolidated revenue grew from KRW 73.7B (2023) to KRW 92.9B (2024) to KRW 100.3B (2025), but the company has remained loss-making with operating losses of KRW 10.1B, KRW 2.2B, and KRW 9.9B respectively across those years, reflecting the costs of portfolio expansion. A failed 2024 spin-off attempt (withdrawn after KRW 2B+ share buyback requests) underscores ongoing strategic restructuring pressure.

Name

HLB Global

Legal name

HLB Global Corp.

Website

https://hlbglobal.co.kr

Company type

Public

Founded year

1962

Operating status

Operating

Short description

HLB Global is a South Korea-based KOSPI-listed diversified holding company operating across Commerce (I'm Alive Kombucha, AMAN honey, Spa-r massage devices, Elishacoy beauty), Bio (metabolic and immuno-oncology ventures), and Education (Papaduck), with Asia's largest kombucha production facility and expanding Southeast Asia distribution.

Ownership category

akta.pro rank

Product category

Fermented beverages and diversified consumer brands

NAICS

Health and Personal Care Retailers (4561)

SIC

Canned, Frozen & Preservd Fruit, Veg & Food Specialties (2030)

akta.pro primary industry

Functional Foods & Wellness Beverage Retail (Kombucha, Adaptogens, CBD where legal) (CRAHAEAH)

Keywords

• Fermented beverage production
• Kombucha manufacturing
• Clean beauty cosmetics
• Consumer brand portfolio
• Forest carbon offset

Headquarters

HQ city

Gangneung

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Commerce / Retail (F&B, Beauty, Health & Lifestyle Products): HLB Global sells a diverse portfolio of consumer brands including kombucha beverages (I'm Alive), cosmetics (Elishacoy, Miin Silok, Purplish), honey (AMAN), massage devices (Spa-r), automotive accessories (Carmim), camping gear (Urban Concrete), and pet products (Ettes, Petpickus) through retail stores, e-commerce, and home shopping. Revenue from the retail (F&B) segment reached KRW 254 billion in 2023, growing 47% YoY. Individual product lines are sold through company-owned online stores, major e-commerce platforms, department stores, convenience stores, and specialty retail.
2. Media Commerce Business: Following the 2023 acquisition of TI Corporation, HLB Global operates a media commerce division that develops and sells trending lifestyle products through online platforms. The division achieved record-breaking first-half revenue of KRW 40.32 billion in 2024, with operating profit of KRW 3.573 billion and net profit of KRW 2.309 billion. The segment drives volume through influencer-driven marketing and self-operated online storefronts.
3. Kombucha B2B/OEM Manufacturing: Subsidiary Freshco/CoaBio manufactures kombucha products for domestic and international food and beverage companies under OEM arrangements. The company has received multiple OEM orders from major food and beverage conglomerates, leveraging Asia's largest kombucha production facility and proprietary fermentation technology.
4. Forest Carbon Offset / Carbon Credits: HLB Global generates carbon credit revenue by preserving approximately 847 ha of forest in Gangwon Province and selling certified carbon absorption credits (approximately 9,500 tons CO2/year) through the domestic emissions trading market.

Pricing tiers

Go-to-market motion2 records

Distribution channels10 records

Marketing channels7 records

Core offering

HLB Global is a diversified multi-brand consumer products holding company selling branded F&B (I'm Alive Kombucha, AMAN premium honey), beauty and personal care (Elishacoy, Purplish, Miin Silok, Jomad), health devices (Spa-r portable massagers), automotive and lifestyle products (Carmim, Urban Concrete), pet products (Ettes, Petpickus), and education (ModernPaPas/PapaDuck) directly to consumers through owned e-commerce, retail partners, department stores, convenience stores, and home shopping. It also generates revenue from B2B kombucha OEM manufacturing by subsidiary Freshco/CoaBio at Asia's largest kombucha facility and from forest carbon credits.

Product overview

HLB Global is a diversified holding company operating across three main business segments: Commerce (F&B, Beauty, Health), Bio (healthcare/life sciences), and Education. The Commerce division includes multiple consumer brands such as I'm Alive Kombucha (506-hour fermented premium beverage), AMAN premium honey, Spa-r massage devices, Elishacoy clean beauty, and various other retail brands. The company operates through media commerce and B2C channels, with distribution across e-commerce platforms (Naver Smart Store), department stores, home shopping, and airline retail (SkyShop). The Bio segment includes HLB Lifecare focusing on metabolic diseases and immuno-oncology drug development. The Education segment features ModernPaPas/PapaDuck for child development programs.

Differentiator

Problem solved

Functional benefit

Brands

• I'm Alive (아임얼라이브): Kombucha brand producing 506-hour fermented real kombucha beverages, sold in convenience stores, cafes, and online. Expanded internationally to Southeast Asia.
• Elishacoy (엘리샤코이)
• Spa-r (스파알)
• Purplish (퍼플리쉬)
• Miin Silok (미인실록)
• AMAN (아만)
• Jomad (조마드)
• Carmim (카밈)
• Urban Concrete (어반콘크리트)
• Modern Papas (모던파파스/파파덕)
• HLB Life Care (HLB라이프케어)
• Tetraforce (테트라포스트)
• Hey Brand (헤이브랜드)
• Selflish (셀프리쉬)
• Onerbe (오너비)
• Ettes (엣츠)
• Petpickus (펫픽어스)
• Mocare (모케어)

Products and services

• I'm Alive Kombucha (아임얼라이브) Premium kombucha beverage fermented for 506 hours using organic green tea, black tea, and organic cane sugar. Contains prebiotics, glucuronic acid, and minerals with antioxidant and detox effects; manufactured by subsidiary Freshco at Asia's largest kombucha production facility. Targeted at health-conscious adult consumers in Korea and Southeast Asia (Malaysia, Singapore).
• AMAN (아만) Premium Natural Honey Premium natural honey sourced from Kyrgyzstan highlands at 1,500m+ elevation, produced via natural beekeeping methods with low-temperature extraction at 40°C or below; Apimondia World Beekeeping Congress silver medal recipient. Sold via Hyundai Department Store, home shopping, and SkyShop (Korean Air C&D).
• Spa-r (스파알) Massage Devices Premium wireless custom massage devices including portable neck/shoulder and calf massagers with massage heads replicating human hands; for consumers seeking at-home muscle relief.
• Elishacoy (엘리샤코이) Clean Beauty Vegan and clean beauty brand focused on healthy natural ingredients with low skin irritation, formulated without harmful additives. Won the 2022 Korea Consumer Brand Award (Consumer Top Brand, low-irritation high-functional cosmetics) and achieved 1.16 million consumers (2021 Brand Customer Loyalty Award).
• Purplish (퍼플리쉬) Cosmetics Beauty brand offering products with mood-enhancing formulations.
• Miin Silok (미인실록) Skincare Premium skin solutions brand providing high-quality skincare products.
• Jomad (조마드) Men's Beauty Men's beauty brand establishing new standards in male grooming and skincare.
• Carmim (카밈) Automotive Accessories Premium automotive accessories brand offering vehicle care and accessory products.
• Urban Concrete (어반콘크리트) Camping Gear Camping lifestyle brand redefining camping experiences with modern design aesthetic.
• Tetraforce (테트라포스러블) Skincare Skincare brand providing solutions for troubled skin concerns using cica ingredients.
• Hey Brand (헤이브랜드) Living & Childcare Living and childcare products brand offering lifestyle and parenting essentials.
• Selflish (셀프리쉬) Inner & Body Care Self inner and body care brand focusing on personal wellness and skincare.
• Onerbe (오너비) Healthy Beauty Healthy beauty brand helping customers achieve personalized healthy beauty.
• Ettes (엣츠) Pet Nutrition Premium pet nutrition supplements brand for pets.
• Petpickus (펫픽어스) Pet Grooming Pet grooming and vacuum cleaning products brand.
• ModernPaPas / PapaDuck (모던파파스/파파덕) Early Childhood Education Child development education brand supporting balanced growth and development of children through play-based educational programs. PapaDuck was selected by Save the Children Korea as operator of the Home Visiting Early Childhood Development Program covering Seoul, Gyeonggi, Incheon, Daejeon, Daegu, Chungnam, and Gumi through February 2026.
• HLB Life Care (HLB라이프케어) Metabolic Disease and Silver Care Metabolic disease and silver care products, including next-generation immuno-oncology drug development bio venture offerings; formerly Barabio Co., Ltd., founded by Professor Ahn Cheol-woo, acquired by HLB Global in 2024.
• Mo Care Color Control Shampoo (모케어 컬러 컨트롤 샴푸) Gray hair coverage shampoo with hair loss relief functionality, formulated with 98% natural-derived ingredients including black food ingredients and patented Amicell collagen.
• Kombucha B2B/OEM Manufacturing Service Contract manufacturing service provided by subsidiary Freshco/CoaBio to domestic and international food and beverage companies, leveraging Asia's largest kombucha production facility and proprietary 506-hour fermentation technology to produce kombucha under OEM arrangements.
• Forest Carbon Offset Credits Verified carbon absorption credits sold through the domestic Korean emissions trading market, generated by approximately 847.26 ha (2.59 million pyeong) of forest in Gangwon Province with trees averaging 30-40 years of age, absorbing approximately 9,500 tons of CO2 per year. HLB Global is registered as a trading-type forest carbon offset operator.

Quantifiable outcome

• 30 million bottles of I'm Alive Kombucha sold
• +8 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• Save the Children Korea (세이브더칠드런)minorStrategic or Co-development Partner · 9 December 2025HLB Global's early childhood education brand 'Papaduck' (파파덕) was selected as the commissioned operator for Save the Children Korea's 'Multi-Crisis Household Home Visiting Early Childhood Development Program.' The program covers 7 regions (Seoul, Gyeonggi, Incheon, Daejeon, Daegu, Chungnam, Gumi) through February 2026, with plans for nationwide expansion.
• Seoul Social Welfare Joint Chest / Loving Heart Basket (서울 사회복지공동모금회/사랑의열매)minorOthers · 6 February 2025HLB Global, together with actress Kim Na-un (a member and PR ambassador of the Seoul Social Welfare Joint Chest's Honor Society), donated KRW 80 million worth of I'm Alive Kombucha jelly to underprivileged community members in Seoul, demonstrating the company's social contribution initiatives.
• Barabio Co., Ltd. (바라바이오, rebranded as HLB Life Care)coreStrategic or Co-development Partner · 9 July 2024HLB Global acquired Barabio, a startup founded by Professor Ahn Cheol-woo, which was subsequently rebranded as HLB Life Care. The acquisition expands HLB Global's presence in the bio/life sciences sector and is part of the company's broader strategy to diversify into high-growth healthcare and wellness businesses.
• CU Convenience Stores — Malaysia (15 stores)minorChannel Partner/ Reseller/ Distributor · 1 March 2023I'm Alive Kombucha entered 15 CU convenience stores in Malaysia in March 2023 as the brand's first international retail channel. This marked HLB Global's initial expansion into the Southeast Asian market.
• Fermented Microorganism Industry Promotion Agency (발효미생물산업진흥원)coreStrategic or Co-development Partner · 22 February 2023HLB Global's subsidiary CoaBio signed a joint R&D and business collaboration agreement with the Fermented Microorganism Industry Promotion Agency (a Ministry of Trade, Industry and Energy-approved non-profit established in 2011). The partnership aims to develop new kombucha product varieties, including a 'Suncheon Berry Kombucha Blueberry' product using local Jeollabuk-do blueberries and indigenous beneficial fermentation microorganisms.
• INDOGUNA (Singapore)coreChannel Partner/ Reseller/ Distributor · 6 February 2023INDOGUNA serves as HLB Global's exclusive distribution partner for I'm Alive Kombucha across Southeast Asia. Through INDOGUNA's broad distribution network, the product was listed at 7-Eleven stores in Singapore with promotional events, marking HLB Global's entry into the Singapore market.
• Freshco Co., Ltd. (프레시코) — increased stakecoreStrategic or Co-development Partner · 6 February 2023HLB Global increased its stake in Freshco from 55.7% to 93.3% by acquiring an additional 37% stake (40,255 shares) for KRW 204 billion. Freshco is the primary operating entity for I'm Alive Kombucha, Asia's largest kombucha producer. The remaining 6.7% stake is held by representative Hwang Jin-soo. Prior initial stake of 55.7% was acquired in January 2020 for approximately KRW 220 billion.
• Hope Bridge National Disaster Relief Association (희망브리지 전국재해구호협회)minorOthers · 20 May 2022HLB Global donated KRW 20 million in forest recovery funds to Hope Bridge for forest fire relief and ecological preservation, reflecting the company's ESG commitment. The donation was part of HLB Global's broader carbon neutrality and forest carbon offset strategy.

Scale indicators12 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• Bodyfriend: Korean premium massage chair and portable massage device company. Directly comparable to HLB Global's Spa-r portable massager line in product category, Korean premium positioning, and direct-to-consumer e-commerce and home shopping distribution model.
• GT's Living Foods: US-based pioneer and largest player in the kombucha category. Directly comparable as a vertically integrated kombucha brand with proprietary fermentation and broad retail distribution, mirroring HLB Global's I'm Alive business model.
• Health-Ade Kombucha: US premium kombucha brand sold through natural and conventional retail channels. Closely comparable to I'm Alive in positioning (premium, small-batch fermented, organic-leaning) and go-to-market approach.
• Brew Dr. Kombucha: US craft kombucha brand with organic ingredients and natural retail distribution. Similar mid-sized premium positioning to I'm Alive and useful as a comparable for international growth potential.

Others

• Cosmax: Korea's largest cosmetics ODM/OEM manufacturer. Relevant as a peer for HLB Global's beauty manufacturing scale, particularly if HLB chooses to monetize internal cosmetics capacity via B2B contracts analogous to Freshco's kombucha OEM business.

Broad incumbents

• Lotte Chilsung Beverage: Major Korean beverage manufacturer and distributor with extensive retail penetration. Comparable as an established Korean beverage player that could either compete with or distribute I'm Alive, illustrating the channel and competitive dynamics in HLB Global's home market.
• Orion Group: Korean F&B and consumer conglomerate with diversified branded snacks and confectionery. Comparable as a Korean publicly listed consumer brands operator with multi-category portfolio and export-oriented growth strategy.
• KeVita (PepsiCo): Kombucha and fermented probiotic beverage brand owned by PepsiCo. Comparable as a direct kombucha competitor now backed by a global beverage incumbent, illustrating both the category opportunity and the threat of large-player entry into HLB Global's space.
• Amorepacific: Korea's largest cosmetics conglomerate with clean beauty and premium skincare brands. Comparable to HLB Global's Elishacoy and other beauty brands as a Korean peer operating in the same retail channels and facing similar consumer trends.
• Dongwon F&B: Korean F&B company with packaged food and seafood brands. Comparable as a Korean consumer food brand operator with international distribution ambitions, relevant to assessing I'm Alive's potential in adjacent CPG categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries21 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HLB Global