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Beginning January, cash payment for the deliveries by cooperating firms

2005-01-03

AMOREPACIFIC held the opening ceremony for the year 2005 AMOREPACOFIC held an opening ceremony in the auditorium on the 10th floor at the head office in Yongsan on January 3rd with CEO Suh Kyung-bae, executives, and employees in attendance. In the ceremony, they pledged continuous hard work to realize the vision “Global total care for beauty and health” with the 60th anniversary as the new starting point. Also AMOREPCIFIC decided to help alleviate the difficulty many SME’s are facing by providing cash payment for the delivery fulfillment of certain lines of suppliers beginning in January 2005. With this measure, 700-odd SME’s with business ties with AMOREPACIFIC are expected to improve their profitability with substantially reduced interest burdens in honoring bills and with alleviated financial difficulties through the early recovery of about 200 billion won. Amore Pacific will continue to endeavor to assume the social responsibility of a corporation and put into action its social contribution plans. Management policy for the year 2005 - ‘Fast & Forward’ Amore Pacific determined “Fast & Forward” as the management policy for the year 2005, designating the new year as being for constructing implementation plans compared to the year 2004 which was for establishing the vision. Suh Kyung-bae, AMOREPACIFIC’s CEO, urged the staff to improve their efficiency in domestic and overseas operations with strengthened competitiveness to be a global company and to establish megabrands. He also emphasized that AMOREPACIFIC should endeavor to emerge as a global company ready to cope with the changing environment. In addition, the Chairman stressed the importance of communication channels through which Amore Pacific can always reach its customers who have the keys to solve problems. To this end, Amore Pacific will be committed to further advance customer service to make it tailored to the customers’ needs and wants with supremely differentiated services.