Amorepacific and Naver Sign MOU for Beauty Platform Development and More

[Asia Economy Reporter Yujin Cho] Amorepacific announced on the 22nd that it signed a Memorandum of Understanding (MOU) to promote mutual friendly relations with Naver at Amorepacific headquarters in Yongsan-gu.

Through this MOU, both companies agreed to closely cooperate in strengthening synergy by linking online and offline distribution, developing new brands and products based on data, and jointly entering overseas markets. They also plan to integrate their B2B platform, a work collaboration tool, to improve work efficiency for employees of both companies, and to strengthen cooperation for customer experience innovation by jointly developing a global beauty platform for global customers.

On this occasion, the two companies will establish a continuous cooperative relationship and carry out various joint projects. Amorepacific expects to enhance its digital business capabilities in new technology areas by utilizing Naver’s big data and artificial intelligence (AI).

Sehong Ahn, CEO of Amorepacific, said, "We hope to create synergy based on the pragmatic business philosophies that both companies hold," and added, "Going forward, Amorepacific will work together with Naver to jointly develop new brands, research hyper-personalized customized cosmetics, and pursue global joint expansion."

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