The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Family of five found dead in Incheon

  • 3

    Malaysia looks east to Korea for future economic growth

  • 5

    Post-Colonialism and BTS

  • 7

    Grandson of Chun Doo-hwan hospitalized after using drugs on livestream

  • 9

    Koreans wish to work less than 40 hours per week: survey

  • 11

    Apple Pay's imminent launch in Korea draws mixed responses

  • 13

    Political divide intensifies in Korea over Yoon-Kishida summit

  • 15

    ICC issues arrest warrant for Putin over Ukraine war crimes

  • 17

    ANALYSISYoon-Kishida summit may 'raise ceiling' for trilateral cooperation with US: expert

  • 19

    US House Foreign Affairs Committee members to visit Seoul next month

  • 2

    INTERVIEW'The Glory' actress Lim Ji-yeon says she wanted everyone to hate her character

  • 4

    BTS member Jimin's single tops iTunes charts in 110 countries

  • 6

    Yoon faces strong political backlash after Tokyo summit

  • 8

    Mask mandate on public transportation to end Monday

  • 10

    Centre Pompidou's Korean branch to open in 63 Building

  • 12

    Woman killed in stopped car struck by bus on highway

  • 14

    Amorepacific President Lee Dong-soon vows to bolster presence in ASEAN, Japan, US

  • 16

    Turkish president supports Finland's NATO bid

  • 18

    Stocks fall to cap chaotic week driven by fears about banks

  • 20

    New EU trade policies unnerve Korean firms

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
Mon, March 20, 2023 | 22:15
Companies
Amorepacific President Lee Dong-soon vows to bolster presence in ASEAN, Japan, US
Posted : 2023-03-18 08:18
Updated : 2023-03-19 15:34
Kim Jae-heun
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Amorepacific Group President Lee Dong-soon speaks during the company's regular general meeting of shareholders at the company's headquarters in Seoul, Friday. Courtesy of Amorepacific Group
Amorepacific Group President Lee Dong-soon speaks during the company's regular general meeting of shareholders at the company's headquarters in Seoul, Friday. Courtesy of Amorepacific Group

By Kim Jae-heun

Amorepacific Group President Lee Dong-soon pledged to pioneer new markets in ASEAN countries, the United States and Europe while reducing its heavy reliance on China during a shareholders' meeting at company headquarters in Seoul, Friday.

"We will achieve a turnaround by finding new businesses and markets based on the company's vision and strategy that reflect the changing of the times," Lee said. "Last year, we faced continued business difficulties affected by high interest rates and rising living costs as well as the prolonged COVID-19 pandemic that resulted in an insufficient financial performance.

Amorepacific Group's 2022 sales and operating profit showed 4.49 trillion won ($3.44 billion) and 271.9 billion won, respectively, down 15.6 percent and 23.7 percent, year-on-year.

Its flagship subsidiary Amorepacific also saw its revenue fall 15 percent last year from the previous year to show 4.13 trillion won, and its operating profit plunged 37.6 percent to mark 214.2 billion won in the same period.

"Since the establishment of the company in 1945, Amorepacific Group achieved record-high sales of about 6 trillion won once, but due to external factors the company had to go through hardships. We also lacked in some parts because we heavily depended on our business in China and we plan to reduce it as well as that in the duty free sector," the president said.

However, Lee emphasized that, apart from China, the company's sales in Asia are still growing and promised to pioneer new markets in the region.

"Even now, the company's sales in the United States and Europe are on the rise and its sales in Asia, except China, are growing by 20 percent," Lee said. "We will continue to pioneer new markets in Asia."


Emailjhkim@koreatimes.co.kr Article ListMore articles by this reporter
 
LG Group
Top 10 Stories
1Yoon faces strong political backlash after Tokyo summit Yoon faces strong political backlash after Tokyo summit
2Koreans wish to work less than 40 hours per week: survey Koreans wish to work less than 40 hours per week: survey
3Apple Pay's imminent launch in Korea draws mixed responses Apple Pay's imminent launch in Korea draws mixed responses
4Woman killed in stopped car struck by bus on highway Woman killed in stopped car struck by bus on highway
5[ANALYSIS] Yoon-Kishida summit may 'raise ceiling' for trilateral cooperation with US: expertANALYSISYoon-Kishida summit may 'raise ceiling' for trilateral cooperation with US: expert
6New EU trade policies unnerve Korean firms New EU trade policies unnerve Korean firms
7Land minister fortifies city building cooperation with Indonesia Land minister fortifies city building cooperation with Indonesia
8North Korea fires ballistic missile as US bombers join drills North Korea fires ballistic missile as US bombers join drills
9Could Doosan Robotics be valued at 1 trillion won in IPO? Could Doosan Robotics be valued at 1 trillion won in IPO?
10Bitcoin extends super-rally amid SVB fiasco Bitcoin extends super-rally amid SVB fiasco
Top 5 Entertainment News
1[INTERVIEW] 'The Glory' actress Lim Ji-yeon says she wanted everyone to hate her character INTERVIEW'The Glory' actress Lim Ji-yeon says she wanted everyone to hate her character
2Competition among rookie boy groups to gain momentum Competition among rookie boy groups to gain momentum
3'Dansaekhwa' master's art museum to be prominent addition to Jeju Island's cultural fabric'Dansaekhwa' master's art museum to be prominent addition to Jeju Island's cultural fabric
4Film highlights discrimination against Chosun schools in Japan Film highlights discrimination against Chosun schools in Japan
5Kim Hee-ae, Moon So-ri team up for Netflix political drama 'Queenmaker' Kim Hee-ae, Moon So-ri team up for Netflix political drama 'Queenmaker'
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group