, Columnist
Korea's Cosmetics Juggernaut
One ugly set of results can't derail a Korean revolution that should have Western beauty giants worried.
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Shares in South Korea's leading cosmetics company AmorePacific Corp. took a hammering Thursday, falling as much as 6.3 percent after fourth-quarter operating income came in at the weakest in two years. Relative to blended forward 12-month earnings estimates, the stock is close to its cheapest since early 2014.
Investors who hear the sound of a bubble bursting should take care, however: Korea's beauty juggernaut is just getting up to speed.