President Choi Young-jin of AmorePacific Makeup Research Institute poses with the $300 million export tower prize he received at the 54th Trade Day anniversary event in the COEX in Seoul on Dec. 5. (Photos: AmorePacific)

AmorePacific was presented with the $300 million export tower award at an awards ceremony as part of the 54th Trade Day anniversary event in the COEX in Samseong-dong, Seoul, on Dec. 5.

AmorePacific is carrying out corporate activities to spread values of Asian beauty all around the world. AmorePacific, which was launched under the name of Pacific Chemical Co. in 1945, is making all-out efforts to “discover” Asia’s genuine beauty and values and communicate them around the world.

The cosmetics company reaped significant fruits to aggressively tap global markets despite such economic hardships as the slowing growth of the Korean and global economy. AmorePacific chalked up 6,697.6 billion won in sales in 2016, up 18.3 percent over the previous year, and 1,082.8 billion won in operating profit, an 18.5 percent jump over 2016.

Despite the declining global economy and low growth, AmorePacific logged a double digit growth rate. The secret lies with the fact that the company’s charming business performance is owed to its brisk exports. AmorePacific posted $385 million in exports in 2016, a 35.2 percent surge over the previous year. AmorePacific aims to realize the vision of becoming a “Great Global Brand Company” by spreading Asia’s beauty and values to the world and “making the world beautiful” by 2020. The company endeavors to strengthen its presence on the global market based on substantial growth. 

AmorePacific has established growth strategies through R&D activities. AmorePacific became the first Korean cosmetics company to inaugurate a research lab in 1954 with Chairman Suh’s conviction of realizing a vision of rising to a global leader by securing an upper hand through science and technology.