Metal traces found in cosmetics cause AmorePacific shares to dive

Metal traces found in cosmetics cause AmorePacific shares to dive

AmorePacific has seen shares fall following the discovery of metal traces in its cosmetic products.

The South Korean behemoth’s shares fell 1.6 percent, while shares of its holding company AmorePacific Group fell 2.16 percent following the decision by the South Korea’s Ministry of Food and Drug Safety to ban some products and order recalls of those already sold.

AmorePacific was one of eight cosmetic companies penalised, with the government agency having recalled 13 products provided to them by a local contract manufacturer.

The company has since issued an apology.

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