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AMOREPACIFIC Corporation Hosts 67th Anniversary Ceremony

Company 2012-10-22

AMOREPACIFIC Corporation (President and CEO, Suh Kyung-bae) held the company’s 67th anniversary ceremony on September 5th at AMOREPACIFIC Corporation head office, and strengthened the company’s determination to become the “World’s No. 7 Cosmetics Company by 2020” through customer-oriented innovative management.

At the ceremony, the President and CEO Suh Kyung-bae said “AMOREPACIFIC has grown with our customers over the past 67 years. Based on the mission that we have never forgotten since the company was founded, we will continue to spread Asian beauty to customers around the world through innovative products that inspire and earn the trust ofcustomers and “customer-oriented innovation” for providing the most high-quality services.”

In In addition, the President and CEO Suh Kyung-bae also emphasized that the company must value “Sincerity” in corporate ethics to become a company that is trusted by customers around the world. As a company that pursues mankind’s health and beauty, the President and CEO Suh Kyung-bae requested that employees continue to provide more eco-friendly and sustainable products to customers and strengthen efforts to respect customers and the environment for business.

The company plans to boost the sales of the AMOREPACIFIC Group from the current level of 3.9 trillion KRW in 2011 to 11 trillion KRW by 2020 by promoting its 10 global beauty brands with annual sales of over 500 billion KRW through aggressive market entry and deployment of country-specific differentiation strategies.* By doing so, AMOREPACIFIC is aiming to achieve a global market share of 2.7% by 2015, and thereby achieve the status of one of the top 10 global cosmetics companies in the world. Furthermore, it is aiming to attain a market share of 3.8% by 2020 to become one of the top 7 cosmetics companies in the word and the number one cosmetics company in Asia. Sales based on: Internal progress within the AMOREPACIFIC Group, including affiliated companies such as AMOREPACIFIC, Innisfree, Etude and Pacificpharma

* Sales based on: Internal progress within the AMOREPACIFIC Group, including affiliated companies such as AMOREPACIFIC, Innisfree, Etude and Pacificpharma

Furthermore, the AMOREPACIFIC Corporation has announced plans to carry out human resource-oriented management to actively discover and nurture global human resources with outstanding insight into the global market and customers. To do so, the AMOREPACIFIC Corporation is strengthening its nurturing of global human resources in order to spread Asian beauty around the rest of the world through its global human resource development project, “Hyecho”, which preserves the spirit of Hyecho, a Korean Buddhist priest from Shilla, who was the first to travel to many countries around the world, including China and India. Last year, the AMOREPACIFIC Corporation dispatched outstanding global human resources to Singapore, Vietnam, and Malaysia. This year, the company will send global leaders to more countries, including Brazil, the Philippines, Thailand and Indonesia, to spread Asian beauty throughout the world.

The 67th Anniversary Ceremony was attended by 230 individuals including Headquarters employees, overseas office executives, AMORE Counselors, and partners. Outstanding counselors, partners, 10-year employees and model employees were awarded and the video of “67 Years of AMOREPACIFIC for Innovating Customer Values” was shown to share the company’s founding spirit.