From Kahi to Yless: How KoreaTech CEO is building next wave of K-beauty

Korea Herald

2 days ago

Lee Dong-yeol blends tradition, innovation, indie spirit to redefine K-beauty experience
When you step into the flagship Yless store nestled in Seoul's historic Bukchon Hanok Village, you're greeted not just by cutting-edge skincare, but by the aroma of freshly baked bread, the hum of live music and the warmth of Korean hospitality. It's a fitting reflection of the brand's ethos: deeply rooted in tradition, yet boldly innovative. At the forefront is Lee Dong-yeol, founder and CEO of KoreaTech, whose vision is reshaping the K-beauty landscape for a new generation of global consumers.
From humble beginnings to beauty innovation
KoreaTech's story began in 2003 as a distributor of everyday goods. But Lee's fascination with beauty was always simmering beneath the surface.
'In the early 2000s, I was already passionate about cosmetics. I wanted to try my hand in the beauty space and that led me to ReFa, a beauty device,' he recalls.
The company's pivot to beauty devices like ReFa Carat and PAO proved prescient, successfully combining technology with personal care for a rapidly growing market.
The real breakthrough came in 2020 with the launch of the Kahi brand.
'Meeting customers face-to-face, I realized their biggest concerns were about basic skincare. I wanted to address the frustrations they felt with existing products and create something truly new,' the CEO said.
Introduced as a new type of skincare stick known as the 'multi balm,' Kahi became a runaway success, actively expanding into overseas markets in 2023. The brand surpassed $10 million in exports from July 2023 to June 2024. Kahi is now available on global e-commerce platforms such as Amazon and has entered 11 countries, including the United States and Japan.
Birth of Yless: Platform with purpose
The journey didn't stop there. December 2023 saw the launch of Yless -- a K-beauty platform designed to challenge industry conventions.
'After selling Kahi both domestically and overseas, I saw that indie brands in Korea were getting great responses, but the competition on platforms was fierce. Too much effort went into chasing trends and marketing rather than product development and quality,' Lee said.
With Yless, the CEO set out to change that. 'Our goal is to spotlight brands — not just products — and to introduce truly unique, high-quality items that you won't find anywhere else, offered at prices free from inflated markups. I can confidently say Yless delivers department store quality at ultra-affordable prices.'
From day one, Yless was conceived as a global platform. Just a week after launching its app in the US and Japan, international orders began pouring in.
'Japan responded most enthusiastically. At Beautyworld Japan in Tokyo, buyers and consumers were amazed — seeing one company showcase 1,500 products was unprecedented.'
In North America, especially among Gen Z, Yless tapped into the rising "dupe" trend — high-quality alternatives to luxury products.
'In the US, buying dupes is considered stylish. Our Bluequatica line of body washes and hand creams, inspired by global luxury fragrances, sold out almost immediately,' he said.
Product diversity is another core strength. 'For foundation alone, we offer 40 to 50 shades to cater to the world's wide range of skin tones. That level of customization is rare."
Beyond beauty: Building K-culture
The Yless flagship store is more than a retail space. 'I wanted it to be a place where people could enjoy the atmosphere of a traditional hanok, experience culture and shop for cosmetics all at once,' the CEO said.
The store hosts free live music, offers traditional Korean snacks and even organizes kimchi-making events — last October, employees made 3,000 heads of kimchi, with plans to increase that to 5,000 this year. 'It's about sharing and cooperation — the values at the heart of Korean culture and our brand.'
Yless also serves as an incubator for indie brands, partnering with fewer than ten carefully selected companies that share its philosophy. 'It's hard to find partners who prioritize quality over quantity. Like a great restaurant that refuses to become a diluted franchise, we're committed to maintaining excellence,' Lee explained.
The CEO is candid about the obstacles small brands face in global markets. 'On platforms like Amazon, competition is so intense that advertising fees can eat up 50 percent of revenue. It's almost impossible for small brands to survive.'
Yless' solution is to minimize platform fees and let brands focus on quality, not marketing spend.
Much of Yless' momentum comes from its close relationships with top-tier manufacturers. 'Our trust with manufacturers like Cosmax and Kolmar was built during the Kahi project. They supported our bold attempts to create products that didn't exist before, focusing on quality over cost,' Lee said.
Fragrance, a notoriously difficult element to perfect, is a point of pride. 'The hardest part always came down to 'scent.' We partnered with a 150-year-old French company in Grasse, the world's perfume capital, to develop our dupe fragrances. They even came to Korea and we bonded over homemade meals,' he said.
For Lee, Yless is just getting started. 'My goal is to build a company that lasts a hundred years. This isn't just about creating a retail space — it's about laying the foundation for sustainable global growth,' he emphasized.
'If you make a good product and offer it at a fair price, consumers will recognize its value. Even without heavy marketing, word of mouth continues to drive our growth every day.'
The Top 100 Global Innovators series spotlights the trailblazers shaping Korea's future across a range of industries — from bold entrepreneurs and tech pioneers to research leaders — whose innovations are making a global impact beyond Korea. More than a celebration of success, the series offers a deeper exploration of the ideas, breakthroughs and strategies driving their achievements. — Ed.
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