Chmn. Suh declares new target at ceremony for 73rd anniversary of the cosmetics giant, calling for boosting to 30 the countries that sell Amore’s products
Chairman Suh Kyung-bae delivers his congratulatory speech at a ceremony for the 73rd anniversary of Amore Pacific on Sept. 5 and also mark the company’s move into its new Yongsan headquarters building in Yongsan District, Seoul, to start the third age of the cosmetics firm in Yongsan, Seoul.
Chairman Suh Kyung-bae said AmorePacific still has a huge market for its products.
“We will unfurl a Big Dream to the market to our east and also Fly High and Further to our west,” he said.
He made the declaration at a ceremony held on Sept. 5 to celebrate the cosmetic giant AmorePacific’s 73rd anniversary, as well as to commemorate the occasion to move into the company’s new headquarters in Yongsan, Seoul.
Some 430 dignitaries, key executives and staff joined the celebration and heard the chairman’s congratulatory speech, declaring that the cosmetics giant will foster “Asian Beauty,” not resting with just “K Beauty.”
The chairman said that many lands still await AmorePacific’s cosmetics.
AmorePacific aims to have its cosmetics in at least 30 countries to be considered a global cosmetics maker.
“We have to take care of the challenges that lay ahead of us one by one slowly but steadily,” Suh said. “We have to fly higher and further than the countries that we already are in through intensive activities and show a Big Dream to the countries that we have yet to enter to show our positive intentions to reach them soon.”
AmorePacific’s cosmetics products are sold in 17 countries, including the U.S., China, Australia, Kuwait and the Arab Emirates. The chairman said AmorePacific has the DNA to win any kind of tough challenge in its path.
The biggest one has been China’s THAAD measures against Korean products being shipped to China to retaliate against the installation of THAAD self-defense radar in Korea, which resulted in the reduction of Chinese imports of AmorePacific products.
A huge crowd is seen at the Etude House opened at the Siam Center in Bangkok, Thailand, displaying a full range of Amore Pacific cosmetics products. (Photos:Amore Pacific)
To win any challenges ahead, AmorePacific’s experiences taught it to have five values, including openness, honesty, reform, kindness and a challenging spirit, which should be the base for a organization however small it may be to achieve the targets overcoming any difficulties, the chairman stressed.
The company introduced its new cosmetics products, “the Iope” and “Hera,” to add to its five bestselling brands; Sulwhasoo, Laneige, Mamond, Innisfree and Etude.
The five “champion brands” have led the company’s cosmetics sales amid the Hallyu wave sweeping the world.
He said the company needs to make use of AI, Big Data, Cloud and others that come with the age of the 4th Industrial Revolution to be a leader in the new age of digitalization. The company should be able to develop new revolutionary cosmetics with reformed customer experiences to capture the customers minds.
Chairman Suh said the company should be a place for fun as well as a workplace of all of its employees. Since its founding on Sept. 5, 1945, AmorePacific has grown to be a leading cosmetics firm representing Asia in the 73 years since its foundation.
The company opened the first lab for cosmetics, exporting its products overseas for the first time including the cosmetics products mixed with Chinese medicine for the first time by AmorePacific in the world.
The company worked on its overseas strategies to explore its market overseas in the 1990s and by the 2000s the company was on the way to expand its global market for further growth.
In 1956, the cosmetic company solidified its foundation before building a 10-story building. The company moved into the new building in Yongsan, Seoul, for a third time at the end of last year.
The chairman said the new building is located at a place connected with all the roads without walls, calling the place, the Lofty Place for AmorePacific, the historic site that begun the initial stages and the highest level of the history as the center for communication with the entire world in the age of Eurasia which is just opening.