South Korean cosmetics firm eyes aspiring middle class

AmorePacific Group expects sales in China to jump 30 percent this year as the South Korean cosmetics producer opens more outlets to capture a wealthier Chinese middle class keen to look more like their Korean idols.

"China is geographically close and it has a very big population," Suh Kyung-bae, the billionaire chairman of the Seoul-based holding company of AmorePacific Corp, said in an interview. The company recognized the importance of Asia's rising middle class 15 years ago, and this is still one of its main drivers, Suh said at the cosmetics maker's factory in Osan, South Korea.

AmorePacific Corp, South Korea's largest cosmetics maker, joins companies such as Hotel Shilla Co and casino operator Paradise Co in benefiting from the rising popularity of Korean entertainment and culture, especially in China. The maker of facial creams and ginseng serums plans to increase the number of Laneige and Sulwhasoo sales outlets in China and work with more online retailers to sell its products, Suh said.