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AmorePacific spins off tea brand Osulloc

All Headlines 16:42 August 20, 2019

By Kim Han-joo

SEOUL, Aug. 20 (Yonahp) -- South Korean cosmetics giant AmorePacific Corp. said Tuesday that its premium green tea brand Osulloc will be launched as an independent entity this year to boost its value.

Osulloc will begin independent business activity starting on Oct. 1, the company said in a regulatory filing.

The move is part of efforts to reinforce Osulloc's brand image as a premium organic green tea brand, the company said.

"Osulloc will solidify its brand as a leading premium tea brand through efficient and responsible management," Suh Heok-jae, CEO of Osulloc, said in a press release.

Since AmorePacific's late founder Suh Sung-whan began the green tea business in 1979, the company has focused on developing green tea fields on the southern resort island of Jeju. Osulloc has won numerous international awards and operates the country's largest green tea museum on the island.

The corporate logo of Osulloc in this photo provided by AmorePacific Corp. (PHOTO NOT FOR SALE) (Yonhap)


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