(Maekyung DB)
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“Finally taking off the mask” Cosmetics surge due to news of the removal of outdoor masks

(Maekyung DB)

The government will lift the obligation to wear an outdoor mask from May 2. However, masks must be worn at large-scale events such as gatherings, events, performances, and sports events where more than 50 people gather. As a result, it has been about a year and six months since the mandatory wearing of indoor and outdoor masks (a fine of 100,000 won) came into force on October 13, 2020.

Prime Minister Kim Bu-gyeom said, “There were some concerns, but we decided that we cannot continue to ignore the frustration and inconvenience of the people who cannot take off their masks even for a walk alone or a family outing.” He also said, “If you are a person with symptoms of Corona 19 or a high-risk group, it is strongly recommended to wear an outdoor mask if it is difficult to maintain a distance of more than 1m in a crowded situation or if there is a lot of droplet generation.”

On this news, cosmetics-related stocks are showing strength side by side. As of 10:30 am on April 29, Jayjun Cosmetics traded at 1,345 won, up 25.7% from the previous day. On this day, Jayjun Cosmetics also broke the highest price by rising to 1,390 won. Korean cosmetics also recorded the upper limit. Korean cosmetics, which traded at the highest price of 13,000 won at the beginning of the market, declined to 11,550 won at the same time, partially returning the increase. This is a 15.5% increase from the previous day. In addition, Organic Tea Cosmetics (16.5%), Leader Cosmetics (16.2%), Tony Moly (9%), and Skin & Skin (7.2%) are all rising sharply.

Amorepacific also traded at 179,000 won, up 0.56% from the previous day. According to financial information company AppnGuide, the fair value of Amorepacific, estimated by securities companies, is 199,167 won, up 11% from the current one. Hyemi Kim, an analyst at Cape Investment & Securities, maintained a Buy rating on Amorepacific and raised its target price to KRW 200,000. In fact, the demand for cosmetics is steadily increasing due to the endemic effect. Cosmetics sales of online shopping mall Lotte On increased by more than 20% in April compared to the same period last year.

[고혜영 인턴기자]

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Reference-www.mk.co.kr

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