Swaper operates 'BloomingSeoul,' a B2B platform providing K-beauty products. It was founded by CEO Lim Jingyu (44) in July 2022.
BloomingSeoul is a service focused on Central Asia, initially targeting Kazakhstan. “The Kazakhstani market has many untapped industries where global platforms have not yet penetrated,” said CEO Lim. “Swaper is leveraging the growth of Korea’s beauty industry. With Almaty, Kazakhstan, as our hub, we are rapidly expanding the beauty infrastructure throughout Central Asia. We are building our competitive edge not through technology or business models, but through speed of execution, local networking, and a deep localization strategy.”
Swaper is expanding its cosmetics branding efforts through social media content created with its local team in Kazakhstan. “We plan to stimulate B2B demand by branding products from Madeca21 (Dongkook Pharmaceutical), CAREZONE (LG H&H), and Code Glokolor in Russian and Kazakh. Our partner brands are also available for offline purchase through a collaboration with IU Market 24, a Korean convenience store in Kazakhstan. In the future, to address the underdeveloped local logistics, we plan to expand a click-and-collect model where customers order online and pick up their items at the convenience store.”
After focusing on business validation and brand partnerships this year, Swaper aims to achieve a corporate valuation of KRW 50 billion by the first half of next year.
“The investment will be used to establish vertically integrated logistics from Korea to Central Asia and to secure price competitiveness by bulk-purchasing products from our brand partners.”
What led CEO Lim to start the company? “As a salaried employee, I faced limitations in pursuing my own ideas. I decided to start my own business because I wanted to take the lead in bringing my vision to life.”
The Swaper team consists of three members, including CEO Lim. The CTO is currently serving in the military and will join full-time after being discharged next year. The COO is a Kazakhstani student studying in Korea who has a deep understanding of the beauty industry.
Regarding future plans, CEO Lim said, “Our goal is for BloomingSeoul to become the number one B2B beauty platform in Central Asia.”
This year, Swaper was selected for the Early-Stage Startup Package program operated by Jeju National University. The program supports startups less than three years old with up to 100 million won in commercialization funds. as well as providing startup space, growth-oriented training, and mentoring from the host institution.
Founded: July 2022
Main Business: B2B K-Beauty Platform
Achievements: Secured distributorship agreements with Dongkook Pharmaceutical and various other brands
reporter jinho lee
jinho2323@hankyung.com
