Amorepacific to Sell Six Office and Logistics Assets—Lead Manager Selected

(Seoul=Yonhap Infomax) Su In Jeong = Amorepacific Corp. (090430), South Korea's leading cosmetics company, has initiated the sale of six assets, including offices and logistics centers in the Seoul metropolitan area and regional cities.

According to industry sources on the 20th, Amorepacific has completed the selection of a lead manager for the sale of six assets, which include regional offices and logistics warehouses.

The assets up for sale comprise office buildings in Choryang, Busan; Dong-gu, Daegu; Seo-gu, Daejeon; and Dong-gu, Gwangju, as well as logistics warehouses in Seo-gu, Incheon and Gimhae, South Gyeongsang Province.

An Amorepacific official stated, "It is correct that we are selling six assets, and the lead manager has been selected."

Regarding the reason for the sale, the official added, "This is to secure cash liquidity," noting that "the specific use of the proceeds has not yet been determined."

sijung@yna.co.kr

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