Please tell us about yourself.

My name is Jinpyo Lee, and I lead the Amorepacific Group Strategy Division. I joined Amorepacific in 2014 through the global operations office (AGO) in Hong Kong. Since then, I have set up business strategies for our international operation, targeting new markets in particular. Currently, I am in charge of developing our short, mid, and long-term business strategies for the group.

Why did Amorepacific establish a new vision this year?

Our vision is a guiding compass and plays a significant role in shaping the growth of Amorepacific. Until recently, our previous vision of becoming a ‘Great Company’ has guided us through the journey towards our mission, creating A More Beautiful World. But everything has changed, and a new era is dawning, especially since the outbreak of COVID-19. We are currently at an inflection point where the 21st century truly begins, and the spirit of the age and industries is being turned upside down. We needed a new vision for the newly pursued valued of the 21st century, like creativity, dynamics, and flexibility. So with our new 2025 vision, we hoped to set up a guide for a bold, drastic shift that embraces contemporary values and yet stays true to the nature of our job.

Tell us more about the new 2025 vision.

What does the slogan ‘Live Your New Beauty’ mean?

Our new 2025 vision slogan is 'Live Your New Beauty.' As the word 'new' implies, it represents our commitment to creating novelty and innovation. As we developed our slogan, we wanted to connect with our emerging consumer generations, the MZ (Millennials and Gen Z), and what beauty means to them. Based on the changing times and new social trends, being themselves is the definition of their beauty. They value the extraordinary beauty of the individual rather than a universal standard of beauty or one that is predefined by society. Aligning with these changing times and looking to the future, we wanted to invite our customers to this 'New Beauty' that Amorepacific will create. We week to join in their journey to discover, live and enjoy a healthy, fulfilling life through this, and that's what our slogan ‘Live Your New Beauty’ entails.

How will Amorepacific incorporate the 2025 vision into its business strategy?

As we have expressed through our slogan ‘Live Your New Beauty,’ we will strategically expand our business into new areas. Our goal is to broaden our scope, approach, and role in the beauty business as we focus on three core components: Life Beauty, Digital, and Empathy. 

First, we will expand the scope of our business into ‘Life Beauty.’ This means that we will offer beauty in a broader perspective to encompass lifestyle, health, and happiness throughout the life of the individual customers, pioneering beyond the boundaries of traditional beauty services, e.g., makeup and skincare. We will focus on 1) high-functional, bio-based products, derma, and other next-generation beauty products with enhanced efficacy, and 2) the wellness category for harmony between inner and outer beauty, for example, Nutrition Beauty. In the end, this will allow us to direct our aims at gaining not only market share, but in the everyday life share or timeshare of our customers. 

Second, we will expand the way we approach our business by further harnessing ‘Digital’ technology to get closer to customers at every touchpoint and better optimize hyper-personalized solutions. With digital technology, we will 1) develop optimized, personalized products and services through in-depth analysis of customer data, 2) create engaging, interactive content, and 3) provide a seamless customer experience along all touchpoints at online and offline sales channels and communication media, strengthening the connection and relationship between the brands and their customers.

What does ‘Empathy,’ the last core component of the 2025 vision mean?

As a responsible corporate citizen, we believe that we must expand the role of the beauty company in response to the demand of our times, particularly for ESG (Environmental, Social, and Governance). The last keyword, ‘Empathy,’ is an important business strategy of today and the point where our New Beauty truly begins. The key is in-depth communication with all stakeholders of our business ecosystem - employees, customers, society, and nature. The five sustainability management goals declared earlier this year, which we call ‘2030 A MORE Beautiful Promise,’ embody our empathy commitment. With two guiding pillars, coexisting responsibly with nature and moving forward with customers and society, the five promises that we pledged will play a significant role in creating the future beauty we envision – New Beauty.