Who Owns SKIN1004? Craver Corporation, the Korean Company Behind the Centella Ampoule

From the brand's official Amazon store: SKIN1004 Madagascar Centella AmpouleAffiliate link. As an Amazon Associate, EpicKor earns from qualifying purchases at no extra cost to you.

Quick Answer

Is SKIN1004 Korean? Yes. The brand is run by Craver Corporation Co., Ltd. (주식회사 크레이버코퍼레이션), a company founded in 2014, with its head office on Teheran-ro in Gangnam-gu, Seoul. Craver's official Korean store names it as the operator, and the Korean product notices for SKIN1004's main products list Korean manufacturers and "대한민국" (Republic of Korea) as the country of manufacture.

Who owns SKIN1004? Craver is controlled by Goodai Global (주식회사 구다이글로벌), the Seoul company that also owns Beauty of Joseon, TIRTIR and Round Lab. It owns Craver through two layers. On 31 December 2025, Craver Holdings Inc., a holding company registered in Japan, held 94.82% of Craver's shares. TM Beauty (주식회사 티엠뷰티), a Seoul holding company, held 88.71% of Craver Holdings. Goodai held 53.21% of TM Beauty. Private-equity and venture funds own the rest of TM Beauty. Those figures come from Craver's and TM Beauty's audited 2025 accounts on DART, Korea's corporate disclosure system.

When did it change hands? In 2024. A consortium led by Goodai bought 85% of Craver for ₩245.6 billion (about $185 million at ₩1,325.06 to the dollar), and Dealsite reported on 3 December 2024 that payment was completed on 29 November. Before the sale, Craver's largest named shareholder was its CEO, Lee So-hyung (이소형), with 18.4%.

How big is it? Craver's consolidated revenue was ₩678.0 billion (about $512 million) in 2025. Its operating profit was ₩164.8 billion (about $124 million). Only 17.2% of that revenue came from customers in Korea.

This is a public-information company spotlight. EpicKor has no relationship with Craver, Goodai Global or any of their brands, and nothing here is investment advice. Won figures come from audit reports on DART unless a press source is named. Dollar figures use ₩1,325.06 to the dollar, the US Federal Reserve rate for 23 October 2026 (FRED series DEXKOUS), and are rounded.

Quick Guide: SKIN1004's Company At A Glance

The Ownership Chain, With Dates

SKIN1004's ownership runs through four companies in two countries. Each step comes from an audit report filed on DART, except the deal price, which comes from the Korean deal press.

Craver's own 2025 audit report spells out the chain in its related-party note. It calls Goodai Global the "최상위지배기업" (ultimate parent), TM Beauty the "중간지배기업" (intermediate parent) and Craver Holdings Inc. the direct parent. Goodai holds no Craver shares directly; it is the ultimate parent because it controls TM Beauty.

Who else owns TM Beauty? TM Beauty's 2025 audit report lists its shareholders: Goodai Global 53.21%, a Mirae Equity new-technology investment fund (미래에쿼티 제42호 신기술사업투자조합) 22.19%, A-Jun Prime Investment (에이준프라임인베스트먼트) 12.53%, JJ One Partners (제이제이원파트너스) 10.20%, and two TP-Beauty funds (티피-뷰티 제4호·제5호 조합) 1.87% between them.

How much of SKIN1004 does Goodai own economically? Multiplying the three stakes gives about 44.8% of Craver's shares (EpicKor calculation: 53.21% × 88.71% × 94.82%). Goodai controls more than it owns. The 2025 reports also show that Craver's and Craver Holdings' shares are pledged as security for TM Beauty's acquisition loan, which was refinanced on 25 September 2025.

A note on percentages. Goodai's own 2025 report shows 53.51% for TM Beauty and 97.29% for Craver in its subsidiary table, and our Goodai Global deep dive first quoted those figures. TM Beauty's share register and Craver's related-party note give 53.21%, and Goodai's own minority-interest table shows 46.79% for TM Beauty's other owners, so 53.51% looks like a typo. The 97.29% is footnoted as a common-share ratio; the 94.82% counts all shares, including the redeemable convertible preferred shares. We use the share registers.

From B2Link To Craver: How The Company Grew

Craver did not start as a skincare brand. It was founded in July 2014 as B2Link, and its audit reports describe the original business as the distribution of cosmetics and clothing. Its 2021 accounts, still under the B2Link name, show a small, loss-making business with ₩31.5 billion of revenue (about $24 million) and an operating loss of ₩9.4 billion.

The change came after the 2022 rename. Its corporate site now calls it a "consumer-goods brand incubator" (소비재 브랜드 육성 회사). It runs two segments. The brand segment sells SKIN1004 and the other brands. The distribution segment (유통부문) is, by CNC News's description, the UMMA (우마) online B2B platform; the audit report does not name it. CNC News described UMMA in August 2025 as supplying "about 180 Korean cosmetics brands to global buyers".

The 2024 sale reshaped the management. In August 2025 Goodai appointed Jeon Hang-il (전항일), a former CEO of Gmarket and eBay Japan, as Craver's CEO. CNC News reported that he would lead both the UMMA platform and SKIN1004's overseas expansion. Craver's 2025 financial statements are signed by two representative directors: Jeon Hang-il and Goodai's CEO and 96.4% shareholder, Cheon Joo-hyuk (천주혁).

The Numbers: From ₩31 Billion To ₩678 Billion

Revenue grew about 22 times between 2020 and 2025 (EpicKor calculation). It more than tripled in 2024 alone and more than doubled again in 2025. In December 2024 Metro Seoul reported that SKIN1004 had secured 653 Ulta Beauty stores since July, with 739 more due by early 2025, and planned to launch the Centella Ampoule in 400 US Costco stores in January 2025.

Why there are two sets of 2024 numbers. Craver switched from Korean GAAP to K-IFRS, the international standard, for its 2025 accounts and restated 2024 for comparison. Note 36 of the 2025 report reconciles the two. The restatement cut 2024 operating profit by ₩30.6 billion of share-based compensation and net profit by a further ₩67.8 billion from treating the redeemable convertible preferred shares as a liability. Under K-IFRS, 2024 shows a net loss. The cash business did not change; the accounting did. The restated 2024 figures are labelled unaudited in the report, so we use the audited Korean GAAP figures for the long-run series.

Where the profit comes from. The brand segment earned ₩160.6 billion of operating profit on ₩556.2 billion of outside revenue in 2025, about 29% of outside revenue. The distribution segment earned ₩4.3 billion on ₩121.8 billion, about 3.5% (EpicKor calculations from note 34). SKIN1004 and the other brands make the money; the platform adds revenue and reach.

Where SKIN1004 Sells: 83% Outside Korea

Note 34 of the 2025 report splits revenue by the customer's location:

Asia outside the big three is the largest market, bigger than Korea itself. The US and Europe grew fastest, roughly tripling and quadrupling. And China is small, at 2.9% of revenue. In 2025 Craver also set up PT Cravercorp Indonesia Wholesale, which TM Beauty's report classifies as a cosmetics manufacturer (note 1.2). The report does not say which Asian countries make up the ₩231.6 billion.

The report also says US customers accounted for 33% of trade receivables at the end of 2025, and that no single customer bought more than 10% of revenue. Its US subsidiary, CraverCorp U.S.A., booked ₩10.1 billion of revenue and a loss of ₩11.3 billion in 2025, so the American push is still costing money at that level.

Where SKIN1004 Is Made

The short answer is Korea, by a mix of Craver's own factory subsidiary and Korea's large contract manufacturers. The Korean product notices (상품정보제공고시) on Costco Korea's site for SKIN1004's Costco multipacks (the ampoule pack is 120 mL ×2 + 30 mL), checked on 30 October 2026, name the manufacturer; the standalone store SKUs may differ.

Korean official-store prices in won; not Amazon prices. They are what SKIN1004's official Korean store (skin1004korea.com) showed on 30 October 2026, and promotions change them often. Manufacturer names come from the notices for Costco Korea's multipacks; the standalone store SKUs may differ.

The ampoule detail is the interesting one. SR Biotech (에스알바이오텍) is a cosmetics manufacturer in which Craver held 53.9% at the end of 2025. It had ₩37.4 billion of revenue and ₩3.2 billion of net profit in 2025, according to the subsidiary table in Craver's audit report. So the company's hero product comes from a factory it controls, while the three other products we checked are made by outside contract manufacturers. Craver also set up a second Korean manufacturing subsidiary, CRC Company (㈜씨알씨컴퍼니), in 2025; it had no revenue that year.

What about Madagascar? The centella asiatica extract is sourced from Madagascar, which is why every label says "Made with pure centella from Madagascar". That is the origin of the main ingredient, not of the finished product. The bottles in the table are made in Korea.

A caveat on export versions. The notices above are for products sold in Korea. Versions for other markets can differ, as the US sun serum does. If the manufacturer matters to you, read the box of the product you actually buy.

Why People Ask "Is SKIN1004 Korean Or Japanese?"

The question is reasonable, for three reasons.

1. The name is a number. "1004" is read cheon-sa in Korean (천 is a thousand, 사 is four). That sounds like 천사, the Korean word for "angel". The group's own online-retail subsidiary was called Skin Cheonsa (㈜스킨천사) until it was merged into Craver in 2025. The pun works only in Korean, so it is invisible to most buyers abroad.
2. There is a Japanese company in the chain. Since 2025 Craver's direct parent has been Craver Holdings Inc., registered in Japan. That does not make SKIN1004 Japanese: the holding company is 88.71% owned by Seoul-based TM Beauty, which is controlled by Seoul-based Goodai. Dealsite reported in April 2026 that Craver had set up a Japanese holding company the year before, that an IPO was targeted for the third quarter of 2027 and that financial investors were reportedly leading it, without naming the exchange. In August 2026 Edaily reported that Craver was pursuing a Tokyo Stock Exchange listing.
3. The packaging is in English. The labels say "Madagascar Centella" and "SKIN1004", with no Hangul on the front.

On the paperwork, the operating company, the manufacturer of every product we checked and the ultimate parent are all Korean.

What The Filings Do Not Tell You

An honest company profile has gaps, and this one has several.

• The founder story is thin. DART shows that Lee So-hyung was CEO and the largest named shareholder at the end of 2023. We found no Korean primary source that describes how he started B2Link or SKIN1004, so we do not call him the founder.
• Brand-level sales are not disclosed. The brand segment includes Commonlabs, Zombie Beauty, THiM and IDENEL as well as SKIN1004. Craver does not split revenue by brand, so we cannot say how much of the ₩556.2 billion is SKIN1004 alone. It is almost certainly most of it, but that is our inference. CNC News wrote in August 2025 that the brand (spelled 스킨천사 in the article) had "more than ₩280 billion" of 2024 sales; that equals Craver's whole 2024 brand segment (₩280.3 billion of outside revenue), which also includes the smaller brands.
• The countries in "Asia" are not named. The largest region in the table is a single line in the report.
• The minority stake in Craver Holdings is not explained. TM Beauty owns 88.71% of the Japanese holding company. The reports we read do not name the other 11.29%.
• The US business is still loss-making. The US subsidiary lost ₩11.3 billion in 2025. Craver also booked ₩56.6 billion of financial costs, but ₩49.1 billion of that is a non-cash revaluation of the redeemable convertible preferred shares and only ₩2.2 billion is interest (note 28). A listing would also test how much the preferred shares and TM Beauty's acquisition debt weigh on the value.
• Being controlled by Goodai is a trade-off. SKIN1004 now shares a parent with Beauty of Joseon, TIRTIR and Round Lab. Goodai's own deep dive shows that the group is centralising distribution. Craver signed an agreement, after a board resolution on 27 January 2026, to buy Hansung USA jointly with Goodai, with Craver expected to hold 19% and Goodai 41% once the deal completes. If you buy SKIN1004 to support an independent brand, it is no longer one.

What This Means For Shoppers And Buyers

For shoppers. SKIN1004 is a Korean brand, made in Korea, owned through a Korean group. On Amazon US, the genuine listings carry the "Visit the SKIN1004 Store" brand byline; check the seller name too (our sunscreen guide found "SKIN1004 NA"), and check whether a listing is the US or the Korean version, especially for sunscreen. If you are in Seoul, the 100 mL ampoule was ₩26,000 on the official Korean store on 30 October 2026, and our Olive Young guide explains when Korea's biggest beauty chain runs its sales.

For overseas retailers and distributors. The contracting entity is Craver Corporation in Seoul. Its export enquiries go to the sales address on the official store. Because Goodai now controls Craver, distribution decisions may be made with the rest of the group in mind, as the Hansung USA deal shows.

For Korean SMEs. Craver went from a loss-making distributor to ₩165 billion of operating profit in four years, led by a centella skincare brand, and it controls a majority-owned manufacturer (SR Biotech, 53.9%) that makes its best-known ampoule. For a brand that outsources its manufacturing instead, see our Dr.Althea deep dive.

FAQ

Q: Who owns SKIN1004?

Craver Corporation (주식회사 크레이버코퍼레이션) in Seoul runs the brand. Craver is 94.82% owned by Craver Holdings Inc., a Japanese holding company that is 88.71% owned by TM Beauty in Seoul. Goodai Global owns 53.21% of TM Beauty and is Craver's ultimate parent, according to the companies' 2025 audit reports on DART.

Q: Is SKIN1004 a Korean brand?

Yes. Craver was founded in 2014 and is headquartered in Gangnam-gu, Seoul, and its products for the Korean market are made in Korea.

Q: Is SKIN1004 Japanese?

No. Its direct parent has been a Japan-registered holding company since 2025, which Korean press links to a planned listing, but that holding company is controlled from Seoul.

Q: Where is SKIN1004 made?

In Korea. The Korean product notices name SR Biotech, a Craver subsidiary, for the Centella Ampoule, Kolmar Korea for the sun serum, Cosmecca Korea for the Poremizing Fresh Ampoule and Hankook Cosmetics Manufacturing for the cleansing oil. The centella extract comes from Madagascar.

Q: How much revenue does SKIN1004 make?

Craver, the company behind SKIN1004 and four smaller brands, reported ₩678.0 billion (about $512 million) of consolidated revenue and ₩164.8 billion (about $124 million) of operating profit in 2025. The report does not split out SKIN1004 alone.

Q: Who bought SKIN1004, and for how much?

A consortium led by Goodai Global, through TM Beauty, bought 85% of Craver for ₩245.6 billion (about $185 million at ₩1,325.06 to the dollar), closing at the end of November 2024 (reported by Dealsite on 3 December 2024).

Q: Is SKIN1004 a public company?

No. Craver is not listed on any exchange. Dealsite reported in April 2026 that an IPO was targeted for the third quarter of 2027, without naming the exchange; Edaily reported in August 2026 that Craver was pursuing a Tokyo Stock Exchange listing.

Sources

• Craver Corporation Co., Ltd. (주식회사 크레이버코퍼레이션), FY2025 consolidated audit report (Samil PwC, 삼일회계법인), DART receipt no. 20260403002808, filed 3 April 2026: shareholders and history (note 1), subsidiaries and their summary financials, income statement, financial costs (note 28), segments and regions (note 34), Hansung USA (note 35), K-IFRS transition (note 36), related parties
• Craver Corporation, FY2024 consolidated audit report, amended (Taesung Accounting, 태성회계법인), DART receipt no. 20250527000338, filed 27 May 2025: shareholders at 31 December 2024, 2023–2024 Korean GAAP figures
• Craver Corporation, FY2023 consolidated audit report (Taesung Accounting), DART receipt no. 20240429000768, filed 29 April 2024: shareholders at 31 December 2023, CEO Lee So-hyung, 2022–2023 figures
• B2Link Co., Ltd. (주식회사 비투링크), FY2021 consolidated audit report (Taesung Accounting), DART receipt no. 20220426000161, filed 26 April 2022: 2020–2021 figures
• TM Beauty Co., Ltd. (주식회사 티엠뷰티), FY2025 consolidated audit report (Hanul Accounting, 한울회계법인), DART receipt no. 20260407003563, filed 7 April 2026: shareholders, Craver Holdings Inc., subsidiaries, acquisition loan
• Goodai Global Co., Ltd. (주식회사 구다이글로벌), FY2025 consolidated audit report, DART receipt no. 20260413002204: CEO's 96.4% shareholding, TM Beauty and Craver percentages in the subsidiary and minority-interest tables
• DART: Craver Corporation 2025 consolidated audit report
• DART: Craver Corporation 2024 consolidated audit report (amended)
• DART: B2Link 2021 consolidated audit report
• DART: Craver Corporation 2023 consolidated audit report
• DART: TM Beauty 2025 consolidated audit report
• SKIN1004 official Korean online store (company footer; product nos. 275, 374, 313 and 274 for prices), checked 30 October 2026
• Costco Korea product notices for the SKIN1004 Centella Ampoule (679726), Sun Serum (681707), Poremizing Fresh Ampoule (696989) and Cleansing Oil (696990), checked 30 October 2026
• Craver Corporation corporate site (brands, "consumer-goods brand incubator")
• Dealsite (딜사이트), "구다이글로벌, 크레이버코퍼 경영권 인수 '완료'", 3 December 2024
• Dealsite (딜사이트), "[구다이글로벌 IPO] 크레이버 일본 변수는 없다…9월 예심청구", 7 April 2026
• Edaily (이데일리), "중복상장 우회 '꼼수'…자회사 IPO 후 구다이글로벌 상장", 12 August 2026
• Metro Seoul (메트로신문), "2024 K뷰티 결산, 해외 시장 개척..中 악재 딛고 '글로벌 성장' 이뤄", 30 December 2024: Ulta Beauty and Costco store counts
• CNC News (씨앤씨뉴스), "구다이글로벌, 크레이버코퍼레이션 신임 대표로 전항일 전 G마켓 대표 선임", 4 August 2025
• Amazon US listings for the SKIN1004 Madagascar Centella Ampoule (ASIN B07ZKHPV9Y) and Hyalu-Cica Water-Fit Sun Serum (ASIN B0FXH5LHN8), both "Visit the SKIN1004 Store", checked 30 October 2026
• FRED, DEXKOUS (South Korean won to one US dollar): ₩1,325.06 on 23 October 2026

Last updated: 30 October 2026. Ownership percentages and financial figures are from the audit reports of Craver Corporation and TM Beauty on DART. The 2024 K-IFRS figures are unaudited comparatives in the 2025 report; earlier years are audited Korean GAAP figures. The deal price, CEO appointment, US store counts and listing plans are as reported by the Korean press. Growth multiples, margins, regional shares and Goodai's 44.8% economic interest are EpicKor calculations. Prices are from SKIN1004's official Korean store and manufacturer names from Costco Korea's product notices for its SKIN1004 multipacks on 30 October 2026. Amazon listings were checked on 30 October 2026 and can change. Dollar figures use ₩1,325.06 to the dollar. EpicKor has no commercial relationship with Craver Corporation, Goodai Global or SKIN1004, and nothing here is investment advice.