SEOUL, KOREA - Cho Young-shik, the billionaire chairman of Nadree Cosmetics, is moving nimbly to invest in publicly listed biotech companies, following an investment in real estate. According to investment banking sources on May 8, Cho acquired on the same day 2-billion-won bonds with warrant issued by Theall Medi Bio through Rotorua Holdings, an investment arm of Nadree Cosmetics.

Cho made his fortune in 2010 and 2011 by selling his stake in SD BioSensor, a company specializing in diagnostic sensor systems for testing blood glucose, to a U.S. medical equipment company Alere Inc., formerly Inverness Medical Innovations. Since resigning from the CEO position in SD BioSensor in August last year, he has actively involved in the investment game. Early this year, he acquired Nadree Cosmetics, then under a workout program, at 13 billion won.

 

An investment banker said, "It seems Mr. Cho plans to combine his new acquisitions in biotech with the cosmetic company. It remains to be seen how he will go about doing the things."