Jung Sung-jae is the founder of Korean beauty device maker Classys.
He set up the company in 2007 after working as a dermatologist.
Classys' flagship product is Ultraformer MPT, a high-intensity focused ultrasound device that provides a noninvasive way to tighten and lift skin by regenerating new collagen.
In 2022, Bain Capital bought a 60% stake in Classys from Jung and his family for $560 million. They retained a minority stake.
Shortly after the deal, Jung handed over the reins of the company to Baek Seung-han, now its chairman and CEO, to position it better for overseas growth.
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The growing K-beauty craze catapulted Jung Sung-jae, founder of beauty device maker Classys, into the ranks of Korea’s 50 Richest list for the first time.
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