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AMOREPACIFIC marks its 70th anniversary and unveils plans to become a ‘Great Global Brand Company’, bringing Asian Beauty to the world

2015-09-10

September 9, 2015 (Seoul, Korea) – AMOREPACIFIC today announced its plans to become a ‘Great Global Brand Company’ as the company celebrated its 70th anniversary at a global media conference in Seoul, Korea. AMOREPACIFIC traced its journey back to the very beginning and presented the future vision for its global business.

AMOREPACIFIC is maintaining its efforts to develop the company’s unique position and pursue its global strategy of spreading Asian Beauty around the world. As the leading Korean beauty company, AMOREPACIFIC promotes a unique ideal that it has named ‘Asian Beauty’, characterized as the ‘beauty which draws from a deep understanding of both nature and human to pursue harmony between inner and outer beauty.’

AMOREPACIFIC is Korea’s oldest beauty company currently led by third-generation CEO Suh Kyung-bae. The company’s origins date back to a small store in 1932, which sold high-quality camellia oil made by Yun Dok-jeong, the mother of company founder Suh Sung-whan. Following Yun’s artisanal spirit, the late founder Suh established the company AMOREPACIFIC in 1945, initially named Pacific Chemical. Suh expanded the company by establishing a variety of first-ever beauty and health solutions with a unique Asian Beauty philosophy and heritage. 

“For the past 70 years, AMOREPACIFIC has been devoted to making the world more beautiful based on our mission as an Asian Beauty Creator,” said the current Chairman & CEO Suh Kyung-bae, who has led AMOREPACIFIC’s successful global growth since 1997. “AMOREPACIFIC will continue to grow its global business and move towards its future vision of becoming a ‘Great Global Brand Company’ by focusing on three pillars: Absolute Quality, Corporate Social Responsibility and Investment in People,” he added. 

The three pillars are as follows: 

Absolute Quality
AMOREPACIFIC strives to make customers’ lives around the world more beautiful with its best quality products, produced with cutting-edge technology and natural Asian ingredients including ginseng and green tea. Based on its 70-year-old principle of Absolute Quality, AMOREPACIFIC will continue to provide singular Asian beauty products to its customers. To this end, AMOREPACIFIC recently established two new research initiatives, Asian Beauty Lab[1] and Cushion Lab (C-Lab)[2].

Corporate Social Responsibility(CSR)
AMOREPACIFIC has undertaken diverse corporate social responsibilities in the areas of women, culture and environment. For women, key programs are Makeup Your Life which supports female cancer patients through holistic beauty programs; the Pink Ribbon campaign which supports breast cancer patients and has approximately 460,000 cumulative beneficiaries as of 2014; and the Heemang Store which supports single mothers gain financial independence. For culture, key programs include the mise-en-scène Short Film Festival (MSFF) and the Sulwha Cultural Exhibition, which are supported by mise-en-scène and Sulwhasoo brands respectively. For the environment, a key program is Green Cycle which encourages eco-friendly upcycling of used product containers.
AMOREPACIFIC plans to expand its key CSR campaigns overseas. The company will identify social issues in each region and country, and cooperate with local communities, consumer organizations, and governments to devise customized CSR programs.

Investment in People
As part of its dedication to the growth of the company, AMOREPACIFIC is devoted to investing in its employees around the world and their quality of life. As AMOREPACIFIC expands worldwide, the company will increase the recruitment of global talent and training of employees globally with various programs such as ‘Hyecho’[3]. AMOREPACIFIC will also intensify its rewards and welfare programs that focus on improving the work environment, especially for women, to ensure that the company holds to its great work place.

AMOREPACIFIC has been a pioneer in the field of beauty and has now grown to be the largest beauty company in Korea and the 14th largest worldwide in terms of net sales[4]. The company has been achieving solid growth both in Korea and overseas. During the first half of 2015, AMOREPACIFIC Group reported sales of KRW 2,857 billion, up 23.3% YoY, and operating profit of KRW 564.3 billion which climbed 46.1% YoY. While the company has focused on growth in the Asia market, it will plan inroads into new markets, such as the Middle East and Latin America in the near future.

*About AMOREPACIFIC
Since 1945, AMOREPACIFIC has had a single, clear mission: to present its unique perception of beauty– namely what it calls ‘Asian Beauty’ – to the world. As Korea’s leading beauty company, AMOREPACIFIC draws from its deep understanding of both nature and human to pursue harmony between inner and outer beauty. With its portfolio of over 20 cosmetics, personal care, and health care brands, AMOREPACIFIC is devoted to meeting the various lifestyles and needs of global consumers around the world: Asia, North America, and Europe. AMOREPACIFIC’s research hubs located around the world are dedicated to sustainable R&D that combine the best of natural Asian ingredients and advanced bio-technology. With its world-class products, AMOREPACIFIC is acclaimed for the innovative ways in which it is transforming global beauty trends.

[1] Asian Beauty Lab is the company’s research unit dedicated to uncovering the value of Asian Beauty through extensive research efforts and advanced technology
[2] Cushion Lab (C-Lab) develops innovative cushion products using AMOREPACIFIC’s proprietary technology.
[3] Hyecho is a global leadership program which cultivates existing employees into regional experts around the world.
[4] Women's Wear Daily, Top 100 Beauty Companies 2014.