April 25, 2024

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[THE INVESTOR] Aekyung Group, one of Korea’s top five household and personal care products makers, announced on Jan. 15 that it will invest 460 billion won (US$432.85 million) in 2018 for future growth.

“We made some visible achievements in aviation, chemistry and beauty industries. On top of this success Aekyung Group has to take a leap forward this year,” Vice Chairman Chae Hyung-seok said during the company’s workshop in Suwon. 

 

Aekyung Group Vice Chairman Chae Hyung-seok

The company will invest mainly on research and development, and is also considering mergers and acquisitions. It aims to expand its operating profit by 20 percent this year. Its operating profit has increased around 19 percent annually since 2008 and its operating profit during the first nine months last year reached 260 billion won.

Chae also announced that the company will move into its new headquarters in August. Six of the group’s affiliates, including the holding firm, will move to the new building in Hongdae. Aekyung’s current headquarters -- which has been used since 1976 -- is located in Guro district.

Moreover, Aekyung is also trying to expand its presence globally. The firm in November established an affiliate in Shanghai, China.

Aekyung was established in 1954 as a soap producer. The group last year grew dramatically mainly due to its affiliate budget carrier Jeju Air, which posted 83.9 billion won in operating profit in the first nine months last year.

By Song Seung-hyun (ssh@heraldcorp.com)