AmorePacific Spreads Asian Beauty to All over World

AmorePacific (Chairman, Suh Kyung-bae) is devoting itself to becoming an “Asian Beauty Creator", its vocation to spread the essence of Asian beauty throughout the world.

AmorePacific announced that it will establish a new overseas production base in the Nusajaya industrial area in Johor, Malaysia, in order to actively respond to growing demand in the ASEAN region.

The company is currently buying sites for the production base with the aim of completing the base in 2020. The Nusajaya industrial area, where the production base will be located, has good accessibility to Singapore and is close to major Asian countries. So the area is considered a key point where eastern and western trade routes cross.

AmorePacific's overseas production base is the third after France (Sartre) and China (Shanghai). The Korean cosmetics giant is planning to take off as a global beauty care company by accelerating growth in the ASEAN market which is increasing in importance through the expansion of new production bases on favorable locations.

The site will be about 31,000 Pyeong (1 Pyeong = 3.954 sq. yds 3.954 sq. yds3.594 sq. yds) while its total floor area will begin from 10,000 Pyeong and expand step by step. The total cost is about 200 billion won (including cost for land purchase, construction and incidental expenses among others). The project is expected to create about 500 jobs. The base will be completed in 2020 after design (12 months), construction work (18 months) and facility construction (6 months).

In 1964, AmorePacific began exporting its products to overseas markets under the brand of 'Oscar'. Since the early 1990s, the company has pursued a global brand strategy, established factories in China and France in an effort to secure overseas local production bases. They are making efforts to develop new markets such as the Middle East and western Europe while expanding sales in China, the ASEAN, and North America –- its three major overseas markets.

Such global business led to the growth of AmorePacific overseas sales. Its sales soared from 327.2 billion won in 2011 to 1,257.3 billion won in 2015, and reached 1,233.2 billion won in the third quarter of last year, up 39% from the same period of the previous year.