[Edaily Reporter SHIN MIN JOON ] AMOREPACIFIC CORPORATION(090430)is expanding its business scope into the medical beauty market centered on clinics and hospitals. Given its strong performance so far this year, AMOREPACIFIC CORPORATION’s strategy is to accelerate its earnings growth through its medical beauty business, a new growth engine. AMOREPACIFIC CORPORATION is accelerating efforts to build next-generation beauty solutions that combine cosmetics and medical technology by collaborating with medical device companies specializing in skin care.

According to the cosmetics industry on the 17th, AMOREPACIFIC CORPORATION posted second-quarter revenue of 1.1759 trillion won and operating profit of 117.3 billion won. Revenue and operating profit increased by 17% and 59%, respectively, compared to the same period last year. This is attributed to strong performance in both domestic and international markets.

In the domestic market, strengthening leadership in online and multi-brand shop (MBS) channels, along with the expansion of cross-border business, contributed to the improved performance. Overseas, high growth in key regions such as the Americas, Africa (EMEA), and Japan, along with diversification of the brand portfolio, drove growth.

Revenue and operating profit for the domestic business increased by 10% and 48%, respectively, compared to the same period last year. Overseas business also grew by 28% and 99%, respectively.

AMOREPACIFIC CORPORATION plans to continue this upward trend in performance. To this end, the company is expanding its business scope beyond cosmetics into medical beauty. “Medical beauty” is a concept that combines medical expertise and hospital practices with skin aesthetics (cosmetology), broadly referring to areas related to △post-procedure care following skin treatments and plastic surgery △medical beauty devices △consultations and customer service provided in hospitals.

The challenging business environment surrounding Amorepacific is cited as one of the reasons for its entry into the medical beauty business. Competition has become extremely fierce as not only established cosmetics companies but also pharmaceutical firms, fashion companies, and major department stores—among other retailers—have entered the cosmetics market. This is because South Korea is home to Original Design Manufacturers (ODMs) such as KOLMAR KOREA(161890) andCOSMAX, INC.(192820) —the world’s largest cosmetics manufacturing, production, and development companies—creating an optimal environment where one can launch a cosmetics brand without the need for large-scale facility investments, such as building one’s own factory.

AMOREPACIFIC CORPORATION’s focus in the medical beauty business goes beyond simply selling medical devices. The company aims to build an integrated beauty solution that connects professional treatments, cosmetics, and home care into a single, seamless experience. To this end, it is expanding its collaboration with medical device companies and broadening its business reach into the hospital and clinic markets.

AMOREPACIFIC CORPORATION recently partnered with Higher Corporation, a company specializing in dermatological medical devices. Founded in 2021, Higher Corporation’s flagship product is HILO WAVE, a collagen booster based on Dual HA (a combination of high- and low-molecular-weight hyaluronic acid). Higher Corporation currently operates in South Korea, as well as in Japan, Indonesia, and Vietnam.

In particular, the two companies will focus on developing products and services that bridge the gap between specialized dermatological procedures and daily skincare routines. They will combine Higher Corporation’s network of medical professionals and experience in the medical aesthetics business with AMOREPACIFIC CORPORATION’s skin research capabilities and brand portfolio. The two companies will also collaborate on distribution to hospitals and clinics, as well as joint research and development of raw materials and ingredients, and marketing.

Previously, AMOREPACIFIC CORPORATION has been collaborating with Viol Medical, a developer of microneedle radiofrequency (RF)-based medical devices, since March of this year. Viol possesses the technological expertise to develop the world’s first radiofrequency medical device for skin aesthetics using microneedles with a diameter of just 300 micrometers (μm, one-millionth of a meter).

AMOREPACIFIC CORPORATION and Viol Medical are working to develop integrated beauty solutions that span both professional treatment settings and everyday home care. AMOREPACIFIC CORPORATION has also made a strategic investment to ensure ongoing collaboration with Higher Corporation and Viol Medical. This move goes beyond a simple business agreement with Higher Corporation and Viol Medical, as AMOREPACIFIC CORPORATION has strengthened its relationship through equity investment. Amorepacific plans to continue expanding its collaboration with medical device companies specializing in skin care.

An AMOREPACIFIC CORPORATION spokesperson stated, “We will develop next-generation beauty solutions that combine dermatological science with medical device technology and provide new customer experiences in the global medical beauty market.”