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Byunghoon Kim
#1299

Byunghoon Kim

Source of wealth: Beauty devices

Net Worth

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Biography

Byunghoon Kim is cofounder and CEO of South Korean beauty-device maker APR, which stands for Advance People's Real life.

He cofounded APR in 2014 with Lee Ju-kwang, who left the company in 2019.

APR's devices use electrical stimulation to help the skin better absorb skincare products. It got a boost when American model Hailey Bieber said she uses APR in a TikTok video in 2023.

APR went public in 2024, raising $71 million.

Investors that backed APR before its IPO include CJ Onstyle, Lotte Ventures and state-owned Industrial Bank of Korea.

Financial Assets

Exchange
KOREA
Ticker
278470-KR
Company
APR, Co.

The Great Lie of Mega-Fortunes: The Case of Byunghoon Kim

Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.

The immense fortune of Byunghoon Kim, linked to Fashion & Retail and 'Beauty devices', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 24 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 1.5 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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