Amorepacific Corp. recently received the Presidential Award for Contributions to the Development of the Renewable Energy Industry at the '2026 Renewable Energy Day' ceremony held on the 23rd of October at COEX in Seoul. This event, organized by the Ministry of Climate, Energy and Environment, marks the first official celebration by the government since the designation of Renewable Energy Day as a public commemorative day.
During the ceremony, a total of 12 government awards and 51 ministerial commendations were presented to individuals and organizations for their contributions to the development and dissemination of renewable energy. Amorepacific stood out as the sole organization to be awarded a Presidential commendation.
Since joining the global RE100 initiative—the first beauty company in Korea—in 2021, Amorepacific has consistently increased its share of renewable energy from 5% in 2020, aiming to achieve a 100% conversion to renewable energy across all operations by 2025. In June of this year, the company was officially recognized for achieving global RE100 by The Climate Group, the operational body of RE100, marking a significant milestone as the first private company in Korea.
Amorepacific has transitioned all its electricity usage to renewable energy through various means, including solar power generation, direct Power Purchase Agreements (PPA), Virtual Power Purchase Agreements (VPPA), green premiums, and the purchase of renewable energy certificates. Their solar power generation facilities, utilizing idle space at their sites, currently supply approximately 10% of the company's total electricity consumption.
Notably, in 2022, when conditions for renewable energy procurement were not fully established in Korea, Amorepacific became the first to sign direct PPAs and VPPAs, proactively adopting new methods for renewable energy procurement. The company has effectively shared its expertise in settlement and power trading accrued during the contracting process with various stakeholders, including government entities and public institutions, contributing to the establishment and revitalization of the country’s renewable energy procurement system.
Additionally, by entering long-term VPPAs, Amorepacific has managed to share market price volatility risks with energy suppliers while fostering cooperative relationships with local communities. The company is dedicated to advancing various measures that go beyond merely achieving its RE100 goals and enhancing the supply of renewable energy in Korea.
Son-Chul Kwon, Executive Director of the Safety and Environment Division at Amorepacific, stated that this award is significant not just for the achievement of RE100 but also for the acknowledgment of their efforts to introduce new procurement methods during the growth of the domestic renewable energy market. He emphasized the commitment to continuously expand procurement methods that can meaningfully contribute to the enhancement of renewable energy supply and to work together with partners to reduce carbon emissions across the entire supply chain.
