Beauty empire AmorePacific chief becomes Korea's 2nd richest person
April 03 2015 via KpopHerald
(Same picture post...)
Cosmetics firm AmorePacific owns cosmetics brand Mamonde, which actress Park Shin-hye has modeled for since early 2014. (Mamonde)
Suh Kyung-bae, chairman of South Korea's top cosmetic maker AmorePacific Group, has overtaken Samsung Group's heir-apparent to become South Korea's second-richest man in stock value, climbing the stock-rich ladder by one notch, market data showed Thursday.
At the end of March, Suh's stocks were valued at $8 billion, or 8.8 trillion won. The second richest man in South Korea relegated Lee Jay-yong, vice chairman of South Korean tech firm Samsung Electronics Co., to a third spot, according to the Bloomberg Billionaire Index.
Lee, the heir apparent of Samsung Group, South Korea's top conglomerate, held stocks worth $7.5 billion, and his father Lee Kun-hee topped the list of stock-rich persons in the country with $12.8 billion.
AmorePacific also owns popular Korean cosmetics brand Innisfree, which actor Lee Min-ho and K-pop singer Yoona, from girl group Girls' Generation, models for in this 2014 winter campaign. (Innisfree)
AmorePacific also owns cosmetics brand Laneige, for which actress Song Hye-kyo has modeled for the past seven years. (Laneige)
Screen siren Jun Ji-hyun -- or Gianna Jun -- currently models for premium cosmetics brand Hera, also owned by AmorePacific. (Hera)
Shares of AmorePacific have surged some 50 percent this year closing at 3,337,000 won on the Seoul bourse on Wednesday.
The shares of the cosmetic giant have been rising as its business thrives on demand from China and other Asian markets. It decided earlier this month to split its stock to boost circulation by making its shares more affordable to retail investors.
Such has already bypassed Chun Mong Koo, the owner of Hundai Motor Group, the world's fifth biggest motor gonglomerate. (Yonhap)