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Aekyung Group Considers Selling Aekyung Industrial Amid Financial Concerns
Aekyung Group is preparing to sell Aekyung Industrial, a subsidiary focused on daily necessities and cosmetics. The post Aekyung Group Considers Selling Aekyung Industrial Amid Financial Concerns appeared first on Global Cosmetics News.
THE WHAT? Aekyung Group is preparing to sell Aekyung Industrial, a subsidiary focused on daily necessities and cosmetics. The group’s finances have come under strain due to the pandemic and a Jeju Air incident at Muan International Airport, leading Aekyung to consider divesting its “cash cow” to improve financial stability.
THE DETAILS Aekyung Industrial’s market position has weakened. Once among the top three K-beauty players, it dropped to fifth place last year, largely because of its reliance on the Chinese market—70% of its overseas sales come from China. Competitors such as Goodai Global and APR have outpaced Aekyung Industrial through successful expansion in North America.
THE WHY? Aekyung Industrial reported sales of 679.1 billion won and an operating profit of 46.8 billion won last year, making it an attractive acquisition target. Aekyung Group confirms that it is reviewing various options but has not made a definitive decision regarding the sale.
The post Aekyung Group Considers Selling Aekyung Industrial Amid Financial Concerns appeared first on Global Cosmetics News.
