Suh Kyung-bae, chairman and CEO of AMOREPACIFIC Group, was selected Forbes Asia's 2015 Businessman of the Year. The news appears in the December issue of Forbes Asia.

Despite the slowdown in the growth of the global cosmetics and household products industry, AMOREPACIFC posted revenues of approximately 4.5 billion US dollars thanks to its high revenue growth. Among many contributing factors, the company’s success is largely thanks to its efforts to improve product competitiveness, including its long-continued investment in R&D.

The company's commitment led to the creation of many innovative products, including Cushion Makeup. AMOREPACIFIC is determined to continue its pursuit of creating new beauty, realizing the human dream of living a beautiful and healthy life.

"AMOREPACIFIC always seeks Asian beauty, which I think represents a new paradigm of beauty," Suh said. "We will continue to pursue Asian beauty in a way that reflects modern values."

Meanwhile, last August, AMOREPACIFIC was ranked 28th on the Forbes list of the World's 100 Most Innovative Companies.