Chief Executive Kim Seung-hwan of Amorepacific said on the 26th, "We will focus our capabilities on accelerating this year's business growth momentum and further expanding our influence in global markets."
At the 20th annual general meeting of shareholders held at the Yongsan headquarters in Seoul that day, Kim, in his greeting, presented "expansion into global markets" as the top priority among this year's core strategies. He said, "We will speed up business expansion in key strategic regions such as North America and Europe, India and the Middle East, China, and Japan, and strengthen digital marketing using global distribution networks and social platforms."
He also laid out plans to advance growth engines. Kim said, "We will step up the development of innovative products that combine customer demand and technological capabilities," adding, "We will boost responsiveness in high-growth categories such as derma (skin science), makeup, and hair, and continue to push into the wellness field."
The company also plans to speed up the transition to AI-based management. He emphasized, "We will advance a data-driven decision-making system and introduce artificial intelligence transformation (AX) across the entire marketing process to increase the speed and accuracy of customer response."
Amorepacific posted 4.2528 trillion won in sales and 335.8 billion won in operating profit on a consolidation basis last year. Those figures were up 9.5% and 52.3%, respectively, from a year earlier. Kim assessed it as "a meaningful time when the strategies pursued so far have begun to yield visible results."
At the shareholders' meeting that day, all major agenda items, including approval of the 20th financial statements, partial amendments to the articles of incorporation, and the appointment of directors, passed as originally proposed. Kim was reappointed as an inside director, and Im Un-seop, head of the derma beauty unit, was appointed as a new inside director.
Meanwhile, Amorepacific Holdings also held its 67th annual general meeting of shareholders the same day and approved agenda items including the financial statements and amendments to the articles of incorporation. Chief Executive Lee Sang-mok of Amorepacific Holdings said, "Following the announcement of the mid- to long-term dividend policy, we are fulfilling our shareholder return commitments, including the cancellation of treasury shares worth about 160 billion won and maintaining a 75% dividend payout ratio," adding, "We will continue to strengthen shareholder-friendly policies and establish a transparent and efficient governance structure."