|May 24, 2017|
|May 24, 2017|
Currency in KRW
|Full time employees:||--|
AmorePacific Group, Inc. is a holding company that engages in the management of its subsidiaries. Through its subsidaries, it offers cosmetics, hair care, medical products, cosmetic glass containers, tea raw materials, and printing equipment. The company was founded on March 6, 1959 and is headquartered in Seoul, South Korea.
AmorePacific Group, the largest cosmetics producer in South Korea, has seen its sales growing in China and Southeast Asia on the back of hallyu, the "Korean wave" of pop culture. To keep up with rising demand, the company built a state-of-the-art factory in China that has an annual production capacity of 13,000 tons. The plant began operating in 2014. AmorePacific aims to become Asia's top cosmetics maker with sales of 12 trillion won by 2020.
The company's global sales come largely from five main brands: Sulwhasoo, Laneige, Innisfree, Etude and Mamonde. Its luxury lines, including Sulwhasoo, are particularly popular among tourists visiting South Korea from abroad. This has contributed to higher sales at duty-free shops.
AmorePacific produces its midtier brands, including Mamonde, at its new factory in China, though it continues to export its high-end products from South Korea. In addition to its existing sales channels, such as department stores and hypermarkets, the company is also focusing on online sales. The company improved its distribution system in China in time for the startup of the new factory, reducing delivery times for shipments to any part of the country.
AmorePacific was founded in 1945. Chairman Suh Kyung-bae, a member of the company's founding family, earned an MBA from Cornell University in the U.S. His understanding of overseas strategy can be seen in how he rebuilt the group's French subsidiary. Robust growth in purchases by foreign tourists has boosted AmorePacific's market capitalization dramatically. As a result, Suh, the company's largest shareholder, is known as one of the richest men in South Korea.
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- Local currency
- US Dollar
|Income before tax||1,086.66B|
|Dividends per share||460|
|Operating cash flow||878,070.42M|
Currency in KRW
|Income before tax||936.62M|
|Dividends per share||0.39|
|Operating cash flow||756.83M|
Currency in USD
- Chairman & Co-Chief Executive Officer: Kyung-Bae Suh
- President, Co-Chief Executive Officer & Director: Dong-Hyun Bae
- Director & Executive Director-Group Strategy: Seung-Hwan Kim
- Auditor: Young-Cheol Son
- Managing Director-Audit Office: Sang-Ho Lee
- SUH KYUNG-BAE(53.8%)
- AmorePacific Group, Inc.(6.7%)
- National Pension Service of Korea(5.8%)
- SUH MIN-JUNG(2.9%)
- Sungwhan Welfare Fund(2.7%)
- Amorepacific Welfare Foundation(1.7%)
- Aberdeen Asset Managers Ltd.(1.1%)
- Fidelity Management & Research Co.(0.9%)
- The Vanguard Group, Inc.(0.7%)
- First State Investment Management (UK) Ltd.(0.7%)
- Website: http://www.amorepacific.com
- Address: 100 Cheonggyecheon-ro, Jung-gu, Seoul, 04542, South Korea
- Phone: +82.2.709.5114
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