InvestHK's Mark Michelson (2nd right); the Vice President of AmorePacific Corporation, Lee Sang-Woo (2nd left); the Executive Director of Dickson Concept Group, Edwin Ing (extreme right); and the Managing Director of Sulwhasoo (Hong Kong), Fion Ipp at the opening ceremony

The premium Korean skincare brand, Sulwhasoo, announced recently the company's decision to use Hong Kong as the strategic base to strengthen its global presence. Korean conglomerate AmorePacific Corporation celebrated the first retail outlet for Sulwhasoo products outside of Korea at Seibu department store.

After offering the products exclusively for the Korean market for more than 31 years, AmorePacific has chosen Hong Kong as the first overseas market to launch the brand.

The Vice President of AmorePacific Corporation, Lee Sang-Woo, explained why the company chose Hong Kong as the first overseas market over the US, Japan and France. He pointed out that Hong Kong consumers are highly receptive to new products and the regulatory environment is open and supportive to new market entries.

"We realise the increasing importance of the Hong Kong market to our overall business development in Asia. Hong Kong is clearly the best 'showcase' in Asia for international brands like ours. The success of Laneige in Hong Kong has had a 'halo effect' on other Asian markets like China, Singapore and Taiwan." After its introduction in Hong Kong, the brand will be launched in Japan next year.

Mr Lee said that the company is committed to long-term development in Hong Kong and has plans to open eight to ten more retail outlets for the two brands - Sulwhasoo and Laneige - in the next three years.

The Sulwhasoo brand is operated under Laneige (Hong Kong) Co Ltd, a joint venture established by AmorePacific following the successful launching of the Laneige brand in Hong Kong. Mr Lee pointed out that the partnership and the launch of its premium flagship brand Sulwhasoo were also important indications of the company's determination and confidence on the long-term development in Hong Kong.

Associate Director-General of Investment Promotion at Invest Hong Kong, Mark Michelson, said: "We are very pleased that AmorePacific has chosen Hong Kong as the showcase for its premier brand to the rest of the world. We welcome international brands to Hong Kong -not only because they enrich Hong Kong's competitiveness as the retail capital in Asia - but also for the economic benefits they bring related to employment, tourism and other areas."

As Korea's first Oriental herbal cosmetic line, Sulwhasoo won the Korea Marketing Best Awards in 2001 and was selected in 2002 as a World-Class Next-Generation Product by the Ministry of Commerce, Industry and Energy in Korea. Total sales of the brand in Korea reached US$65 million in 2003.

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