Aekyung Industrial reported a consolidated sales figure of 169.1 billion won for the first quarter, marking a 7.7% increase compared to the previous year. Operating profit also saw a 6.8% rise, reaching 16.5 billion won.
The cosmetics division achieved sales of 63.1 billion won, marking a 7.6% increase compared to the previous year. Operating profit also saw a significant uptick, rising by 13.7% to reach 9.9 billion won. This growth momentum was primarily driven by robust performance in China during the first quarter, coupled with strategic expansions in Japan and Vietnam, both of which have recently become key growth markets for K-beauty. Overseas markets played a pivotal role in driving up sales and operating profit.
While the household goods division has experienced growth in its market presence, its profitability has slightly declined. Sales increased 7.7% year-on-year to 106 billion won in the first quarter, yet operating profit decreased by 2.1% to 6.6 billion won. The expansion in sales resulted in a slight decrease in profitability, attributed to investments aimed at diversifying sales structures. These investments include expanding domestic channels and broadening global brand categories.
Aekung disclosed that the growth in its cosmetics division was driven by its expansion into Japan and Vietnam, emerging as key markets for K-beauty, alongside robust sales in China. The company recently entered the US market through the global K-beauty distribution platform, Silicon 2.
