The holding company of Amorepacific Corporation, AMOREPACIFIC Group, will change its name to "Amorepacific Holdings."
AMOREPACIFIC Group announced on the 6th that it has decided to approve a change of its corporate name to "Amorepacific Holdings" at the regular shareholders' meeting scheduled for the 25th of next month.
AMOREPACIFIC Group noted that the reason for the name change is to clarify its role as a holding company.
AMOREPACIFIC Group held a board meeting on the same day and revealed plans for the name change as well as the repurchase of its own shares. This is part of last year's announced plan to enhance corporate value and aims to maximize shareholder value.
The repurchase targets 3 million common shares, which corresponds to 3.13% of the issued shares. The planned repurchase date is the 13th, with a scale of 68.85 billion won based on the previous day's closing price.