By Kim Da-ye
AmorePacific, the parent company of well-known skincare brands including Sulwhasoo and Laneige, unveiled its second research center called Mizium to the press Thursday, created to focus on the company’s aim to become the main luxury cosmetics manufacturer in Asia.
Mizium, a futuristic grey building surrounded by well-sown grass, was designed by Portuguese architect Alvaro Siza and built in Yongin, on the outskirts of Seoul.
AmorePacific spent a total of 50 billion won to construct the five-storey building with 26,000 square meters of space, hoping to increase its research staff from 330 to 500 by 2015. The facility took five years from design to completion.
Upon entering the research lab, the aroma of oriental medicine or “hanyak” assaults the nose. Glass bottles filled with various herbal medicines including dried youngji mushroom and acanthopanax are neatly arranged on white shelves, below which a machine spins a solution on turbo speed to extract the concentrate of the herbs.
Corridors and communal areas are decorated with artwork _ mostly modern pieces. The most noticeable is “Una-lumino” by Choe U-ram _ hundreds of metal magnolia flowers hang from the ceiling whose petals fold in and out in melodic harmony.
Such a bold investment in the space and artistic environment reflects CEO of AmorePacific, Suh Kyung-bae’s emphasis on creativity and advanced research.
“I have always believed that research and development is crucial for a company,” Suh told the reporters. “Humans design buildings, but the buildings influence humans. I wanted our employees to share their thoughts and troubles in an open space, bringing out their creativity.”
The aim of the 65-year-old firm is to expand its mid- and long-term research by nearly 100 percent under the slogan of “Asian Beauty Creator.”
The main ingredients used in AmorePacific research are ginseng, green tea and beans. The firm says that it has studied ginseng for the last 50 years and other oriental medicines for nearly 40 years. The result is its high-end product Sulwhasoo.
The firm then wants to combine the latest “bio technology” with the natural herbal ingredients in order to produce luxurious skincare lines that will appeal to consumers globally. Last August, it launched a “bio-science” research lab to study cells and genes, which it hopes will become the Asia’s leading bio-technology institute by 2020.
“Recent studies show that the average life span of Korean women currently in their 30s will be over 90 years. That means many women are likely to live more than 100 years,” said Kang Hak-hee, the chief of the research center.
“This also means women live 30 years with a strong feminine aspect but the rest 40 to 50 years or so as more androgynous humans. We hope to sustain their health and beauty as long as possible to help improve the feminine aspect of their lives.”
Such attention on research is part of the company’s plan to take a bigger bite of the global luxury cosmetics market. Overseas sales now account for about 12 percent of its total revenue from its beauty products. The firm wants to raise the ratio to 29 percent by 2015.
AmorePacific, which enjoys a 35-percent market share in Korea, has chosen Sulwhasoo and Mamonde as its main “global champion brands” to improve its standing in the Asian market, especially in China. The world’s second largest economy represents 49 percent of the firm’s overseas sales.
The cosmetics manufacturer says that the 40-year-long research on oriental medicines makes the Sulwhasoo products difficult to copy. Aspiring to make it into the top 100 cosmetic brands, the firm already launched the line in Hong Kong and the U.S., and plans to enter the Chinese and Japanese markets soon.
In the meantime, the Mamonde line will target mass market consumers for its low price and decent quality. It is now sold in more than 2,400 outlets in China including department stores.
Though the progress in its global reach has been somewhat slow and arduous, the firm says that its revenues and profits abroad are improving. In the category of anti-aging products, AmorePacific’s products are ranked fourth in Asia and seventh in the world. Its sun care products are also ranked as Asia’s second, according to the 2009 Euro Monitor data.