AmorePacific to set up cosmetics production branch in Malaysia

By Park Sae-jin Posted : September 5, 2016, 11:31 Updated : September 5, 2016, 14:34

[Courtesy of AmorePacific]


South Korean cosmetics giant AmorePacific said Monday its board has endorsed a 98 million US dollar investment to establish a production base in Malaysia as part of efforts to boost sales abroad.

AmorePacific said in a regulatory filing that some 110 billion won ($98 million) would be spent on establishing a branch for cosmetics production probably in Malaysia's Nusajaya region.  It hopes to build the plant by 2020. 

It will be the company's third plant abroad. AmorePacific has plants in France and China.

AmorePacific's sales have seen a dramatic increase, helped by the K-pop culture wave "Hallyu" that sparked the tremendous popularity of South Korean cosmetics in Asia. Its profit jumped 52 percent on-year to 585 billion won last year.

Aju New Lim Chang-won = cwlim34@ajunews.com
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