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AmorePacific revamps governance ahead of FTC s regulation
koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.
Amorepacific becomes the first Korean beauty company to join RE100
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K-Beauty s Golden Age Is Ending What Comes Next? | BoF Professional, The Business of Beauty, News & Analysis
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Kakao founder s charitable donation casts new light on culture of giving
Posted : 2021-02-09 16:44
By Kim Hyun-bin
Kakao Chairman Kim Beom-su has set an example by pledging to donate half of his wealth to charity to help solve problems in society. His act of kindness has turned him into a role model and also casts light on large contributions made by other prominent people in the past.
Kim is worth over 10 trillion won, including 12.5 million shares he owns in Kakao valued at 5.7 trillion won. Kim said he was working on the specifics of where to donate his money, but added that he wants to help needy people in areas where Kakao has not already offered support. This marks the first time that the head of a business conglomerate donated trillions of won out of his own pocket.
Powered by sales in China, LG H&H beats AmorePacific in cosmetics sector
Posted : 2021-02-04 16:23
Updated : 2021-02-04 16:47
From left, AmorePacific Group Chairman Suh Kyung-bae and LG Household & Health Care CEO Cha Suk-yong / Korea times file
By Kim Jae-heun
For a long time, AmorePacific Group has kept its No.1 position in the local cosmetics industry. However, it ceded the top spot to LG Household and Health Care (LG H&H) after failing to diversify its business portfolio and respond to the new trend of retail digitization.
According to AmorePacific Group s regulatory filing on Wednesday, its sales last year stood at 7.93 trillion won, down 21.5 percent year-on-year. Its operating profit nosedived by 69.8 percent to 143 billion won.