AmorePacific, South Korea’s biggest cosmetics company by sales, is riding high on booming Chinese demand amid the huge popularity of Korean pop culture in the region.
The cosmetics maker has become investors’ favourite company, thanks to its rapid earnings growth and bright outlook, with its share price surging nearly 160 per cent to about Won2.3m over the past year.
The company’s overseas sales surged 38 per cent to Won382.7bn ($349m) in the first half of this year as it generates one-fifth of its revenue outside South Korea. Its full-year overseas sales are expected to reach Won700bn as growing interest in South Korean drama and music helps boost sales of its skin care products in China and other parts of Asia.
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