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March 19, 2024

LG Household outpaces Amorepacific in market value

PUBLISHED : June 24, 2018 - 12:53

UPDATED : June 24, 2018 - 12:59

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[THE INVESTOR] LG Household & Health Care has cemented its status as the No. 1 cosmetics company in terms of market capitalization in South Korea as brisk overseas sales further pushed up its stock prices, market data showed on June 24.

The company’s market cap totaled 23.1 trillion won (US$20.8 billion) as of June 22, marking the 10th most valuable company in the South Korean market, according to the data by the Korea Exchange.





Its stock prices closed at 1.48 million won per share on the day, jumping 10.2 percent from 1.34 million won on June 1. LG Household outpaced rival Amore Pacific Corp. in terms of market value on May 9 for the first time at least in a decade and has continued to widen the gap.

Amore Pacific, the country's biggest cosmetics firm by sales, saw its stock prices drop 7.43 percent this month to close at 311,500 won per share Friday. Its market cap came to 18.3 trillion won to rank 19th as of Friday.

Amore Pacific had been the most favored cosmetics pick among investors in the past few years as its flagship luxury skin care brand Sulwhasoo won popularity in China.

Its market cap touched 26 trillion won in July 2015, far ahead of LG Household’s 12 trillion won.

Their difference began to narrow last year when their share prices tumbled as the country‘s cosmetics industry was hit by a Seoul-Beijing diplomatic feud over the deployment of the U.S. missile defense system named THAAD in South Korea.

A few months later, LG Household made a rebound thanks to stellar sales of its premium The History of Whoo line, with its cosmetics sales surging 89 percent on-year in the first quarter.

Meanwhile, Amore Pacific’s flagship high-end brand, Sulwhasoo, posted a 20 percent rise in its sales in the same period.

By Lee Ji-yoon and newswires (jylee@heraldcorp.com)

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