Amorepacific Corporation (Korean: 주식회사 아모레퍼시픽) is a South Korean beauty and cosmetics chaebol, operating more than 30 beauty, personal care, and health brands including Sulwhasoo, Laneige, Etude, Aestra, Cosrx, AP Beauty, and Innisfree.[2] The firm was founded in 1945 by Sungwhan Suh and currently managed by Kyungbae Suh, the son of the founder. It is the largest cosmetics company in South Korea and one of the 10 largest cosmetics companies in the world.[3][4]
History
The company originated back in the 1930s, when Madame Dokjeong Yun began selling camellia oil in the village of Kaesong. Her second son, Sungwhan Suh, took over the business in 1945 and transformed the firm into a cosmetics chaebol, naming it "Taepyeongyang (meaning Pacific Ocean in Korean)".[3]
Sungwhan Suh handed the company over to his second son Kyungbae Suh in 1997.[3] Suh rebranded the firm into multi brands company to target the global market and turned the company into a chaebol giant that manages dozens of cosmetics brands.
In 2000, the company established the Korea Breast Cancer Foundation. In 2002, the company was renamed AmorePacific. Four years later, the holding company AmorePacific Group was founded. In 2010, the company built a second R&D center. Forbes named Amorepacific one of the most innovative companies in the world.[5]
