Suh Kyung-bae is a business tycoon from South Korea. Kyung was born in the year 1963 in South Korea. He heads AmorePacific Corporation as the chairman of the company. The company is based in Seoul, South Korea and it deals with cosmetic products. The company was founded by Kyung’s father Suh Sung-hwang in 1945.
Personal Biography:
Kyung did his schooling from his hometown. He then pursued his graduation from Yonsei University from where he earned his graduation degree. Later he earned his Master in Business Management (MBA) degree from Samuel Curtis Johnson Graduate School of Management. In the year 1997, he inherited the wealth from his father Suh Sung-hwang, including AmorePacific Corporation. He is married and is blessed with two children and he happily lives in Seoul.
Family of Suh Kyung-bae
Suh Kyung-bae was born to father Suh Sung-hwang and mother Byeon Geum-Joo. The couple had four daughters and two sons including Kyung. Kyung has four sisters and one brother. Their names are listed below;
Suh Hye-Sook
Suh Eun-Sook
Suh Song-Sook
Suh Mi-Sook and brother
Suh Young Bai
Kyung is married to Shin Yoon-Kyung and the couple has two daughters. They are;
Sung Ho-Jung
Suh Min-Jung
Suh Min-Jung: Daughter of Suh Kyung
Suh Min-Jung is the eldest daughter of Kyung. She has studied Economics from Cornell University from where she passed out in the year 2015. She later joined Bain & Company from where she has completed her internship from Seoul’s office. She was born in the year 1993. His maternal grandfather is Shin Choon-ho, who is the chairman of Nongshim Group. Min-jung holds the second largest share of Etude and Innisfree, key affiliates of AmorePacific Group. Her worth is USD 319 Million.
Suh Sung Whan: Father of Kyun-bae
Suh Sung-whan took the company into his hands in the year 1943 to expand it. He named the company to Pacific Chemical Industry where he established a research lab for cosmetic products in the year 1945.
AmorePacific: Kyung’s Company
AmorePacific was founded by his father in the year 1945. The company manufactures cosmetic products of various kinds. The company has 7600 overseas employees and nearly 6000 in South Korea. The company holds 40% shares of the market. Kyung aims to make it a global cosmetic brand by the year 2020.
The chairman of AmorePacific believes that till now most of the Asia centric cosmetic companies have followed the western trends but he believes that time has come to establish an Asia brand rather than following west. The skin natures of Asian women are different from west therefore special care should be taken while developing such products.
Kyung-bae joined the company in the year 1980 after finishing his MBA from the University of Cornell. Before assuming the office of executive, Kyung-bae worked in various departments of the company. In 1997 he became the chairman of the company. Later after the demise of his father, he took the company to international level, selling its products to Hong Kong, China, Singapore, Vietnam, Philippines, and the United States.
Worth of Kyung-bae:
Suh Kyung-bae is the second richest person in South Korea as of 2016. Since he assumed office, the company is blooming day by day. His aim is to make AmorePacific as global brand by 2020. According to Forbes, he is the 148th richest man in the world. He worth’s USD 7.3 Billion as per January 2017. The start of AmorePacific is very interesting. It started with Kyung’s grandmother selling hair oil eight decades back to a billion dollars worth company. Kyung regards his company as his grandmother as the company is the hard work of his father, grandfather and grandmother.