First-generation K-Beauty Brand Charmzone Files for Corporate Rehabilitation
Creatrip Team
3 months ago
Charmzone, a pioneering ‘1st-generation K-Beauty’ company founded in 1984 and known as an original maker of cleansing water, has applied for corporate rehabilitation at the Seoul Bankruptcy Court after prolonged financial troubles. On the 21st, the court issued a comprehensive prohibition order, preventing creditors from enforcing claims (such as seizures or auctions) and barring the company from disposing of assets or repaying debts without court approval while the rehabilitation review proceeds. Once prominent through home shopping and door-to-door sales, Charmzone struggled to adapt to intensified competition and shifting distribution channels in the 2010s; as the K-beauty market restructured around global brands and startups, the company lost growth momentum and faced worsening liquidity, leading to this legal move.
