South Korea's second largest beauty and cosmetics business (after LG Household & Health Care), operating more than 30 beauty, personal care, and health brands.
|Amorepacific Group Inc||KOR||website|
|Amorepacific Group Inc|
This company received an S&P Global ESG Score of 34/100 in the Personal Products category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 21 Oct 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022)
In 2020 this company was fined about 100 million won (US$80,000) over unfair support to its affiliate. According to the Fair Trade Commission (FTC), Korea's top antitrust regulator, the group's holding company provided 75 billion won worth of fixed bank deposits without a fee to Cosvision to help the affiliate receive a large low-interest loan from the Korea Development Bank (KDB) between 2016 and 2017. Thanks to the loan, Cosvision was able to enhance its cost competitiveness and production capacity and maintain its third-place ranking in the domestic cosmetics original equipment and manufacturing (OEM) market, the regulator said. The FTC found this constitutes an unfair business loan procedure between a conglomerate and its affiliate, and it decided to fine the holding company and Cosvision 48 million won each.
Source: news article (2020)
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