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AmorePacific's sunscreen products are awarded as World-Class Products for the Next Generation by the Ministry of Knowledge Economy

R&D 2010-06-28

Seoul - January 19, 2009 - AMOREPACIFIC Corp. President and CEO Suh Kyung-bae was awarded a certificate by the Ministry of Knowledge Economy (MKE) at the COEX InterContinental Hotel in Seoul for its entire sunscreen products selected as one of the World-Class Products and Manufactures for the Next Generation. 
The candidates for the World-Class Products and Manufactures for the Next Generation must assure that their products will rank within top 5 global market shares in the next 5 years. As of 2007, AmorePacific's sunscreens haven been ranked 7th in global market share (2.1% of total) according to Euromonitor International. Sales continue to grow and the future is promising. With this certification by MKE, AmorePacific can display the certification mark of World Class Product of Korea on its future sunscreen products and receive government support for its oversea market. 
The global sunscreen market has achieved an average yearly growth of 11.9% from 2002 to 2007. It is expected that global demands for sunscreens will continue to increase in future due to the depleted ozone layer caused by environmental pollution. In addition, domestic sunscreen products' high quality is the next generation driving force of export growth. 
According to the study of Comparison Test on Price and Quality of Sunscreens in 2008 by Consumers Korea, most of the domestic sunscreens have better quality than foreign products. In Particular, the study found that AmorePacific's HERA Sun Mate Daily and LANEIGE Sunblock Aqua have passed SPF suitability test and shown excellent texture when applied on skin. 
AmorePacific has consistently applied innovative high technology on its products to provide better sunscreens. 
For examle, LANEIGE Sunblock High Lasting (SPF50+/PA+++) is made by a new sunscreen formulation based on emulsification technology using powdered particles instead of surfactant for the first time in the world. The benefit of this surfactant-free sunscreen includes less stickiness and lower risk of skin irritation or allergy. AmorePacific Natural Protector (SPF 30/PA+++) is based on applied UV protection technology using colloidal inorganic and polymer nano-composite materials. It was selected as one of Top 10 New Technologies of Korea in 2004. Also, IOPE Wrinkle Sunblock (SPF 35/PA++) contains adenosine as a source chemical for anti-wrinkle effect. Therefore, it boosts the skin protection against UV rays while preventing natural aging of skin and improving skin condition.