Last month, I went to India. My first visit to India was about 10 years ago and since then, I have been there five times in the following five years. Plus, I went on another two visits in the last four years. India is currently going through many changes. The most notable change is a unified nationwide GST (Goods and Services Tax), which recently came into effect. It brings a set of different tax rates (16–27%) levied in India's 29 states into one single tax system. Through this new tax system, markets are growing all across the country along with improvement in the business environment.

 Another change is currency reform. The main point of reform is that the demonetization of two largest denominations – INR 500 and INR 1,000 – and their replacement by new 500- and 2,000-rupee notes. This has increased bank and financial transactions and as a result, enabled business to be handled on more sound and precise principles. Moreover, India is also working on its electricity and drinking water problems at the national level.

 One noteworthy change that we all may find more relevant to us is that the number of smartphone users in India has now exceeded 500 million. It is this wide use of smartphone that is driving the growth of the e-commerce market. The urban population in India totals nearly 400 million with the estimated total population amounted to 1.3 billion. There are nine mega cities with a population of 4–5 million people, and 49 other small and medium cities. Their continuous growth represents the strong future potential of India. India, the land of opportunity is, in general, divided into five regions: North, South, East, West and Central India. North India has Delhi, the capital of India. West India has another famous city, Mumbai. Bangalore, the IT hub of India is located in South India and Chennai, the large harbor city is situated on the south eastern coast of India. East Indian people are ethnically similar to Asians. East India borders on Myanmar and Kolkata, known best for its tea production, can be found here. Lastly, Central India is comprised of Varanasi and many other inland cities.

 Hyecho wrote a book named Wang Ocheonchukguk Jeon after he travelled through India about 1,500 years ago. Cheochukguk - the book title- is the ancestral name that refers to India in Chinese. The full title means the account of travel to the five Indian kingdoms. The five Indian kingdoms are different from the five regions of India today. What remains the same though is that there was a pioneer in times long past who took up the challenge to explore the wide world beyond his hermetic shores.

 We, at Amorepacific, are operating business in 13 countries around the world. However, other companies in similar size have presence in at least 30 countries and some even up to 80. To begin with, let us take on the challenge to advance into 30 countries. Our presence in 13 countries puts us among the world's top 10 companies but we must not stop here. It is imperative that we keep up the challenge to become a truly global company operating worldwide.

 We need to dream big and have a vision for what we can do in the 'East' markets. I am not just simply saying this though. We really must continue with our active push into the U.S. market, and tap into Canada and Mexico. This year, we will take our first steps into Australia. If possible, we will go southeast and head to Brazil and Columbia. Then, fly high beyond the Greater China Region and ASEAN markets to the west. India, Middle East and Russia – there are many countries that our vision of beauty still has not reached. innisfree is putting up a good show, opening nearly 10 stores in India over the past few years. Other brands should do the same; break into the Indian market and yield the fruitful results of this hard work. By actively working our way into Kuwait, Turkey, Dubai, Iran and other fast growing Middle Eastern markets, we can continue to build our presence there. I am also looking forward to reaching customers in Russia, another Eurasian giant. All of these things though can be achieved only with our growth and innovation in Korea. We must first sharpen our competitiveness in Korea and develop more appealing, innovative products in order to take this success to the global market. This of course requires the full talent and potential that only you possess.

 Last year was a very difficult year. Some of the difficulties we faced came from the outside, but not all of them. Let us look back upon ourselves and ask whether we have been indulging in the depth of the bubble created between 2014 and 2016 by Chinese tourists and our success in cushion. Is it possible that we have lost our customer-centric attitude already? Have we forgotten our vocation of making a more beautiful world with Asian Beauty? Have we strayed into making cookie-cutter products instead of creating something great with all of our hearts? We should have been thinking more about our customers and what they really want. Now, we should study more deeply about our largest customer base, the millennial generation, and how we can satisfy their wants and needs. Change is also needed in the way we interact with our customers as well. Customer expectations are changing quickly in this digital age and it's time to examine closely how we create and maintain the relationship with our customers. Prompt responses to customers when they ask questions, and ensuring that products are delivered on time – these are the basic principles. To become truly customer-centric, we should take practical action, step by step. Because in the end, it will create innovation and pave the way to the global market.

 Together with you, I'd like to make our company greater as we start a new chapter of our story in the new Yongsan HQ. This will take your full commitment to our mission of beautifying customers, bringing a positive influence to them through our work and thus making a more beautiful world. Everything we do has meaning and by doing meaningful work, we improve ourselves. If we count on sales figures and numbers only, we can never achieve sound growth. Instead, we should keep asking customers why, then find solutions and build a solid foundation for growth. Hopefully, Amorepacific will become a company where we all can grow through meaningful work and take pride in what we do here.

 Most importantly though is to have fun at work. I do not want you to be intimidated or struggling, but instead, find ways to enjoy your work and have fun. Also, we need to build trust among ourselves and with customers. This will lead to good numbers and good profit. Remember to share words of encouragement and keep challenging ourselves. Focus your effort on becoming a great leader and a great team player with passion. I'd love to see more of our leaders being understanding and caring of others. Trust in each other. That is the greatest asset available to us.

 Our newly built headquarters in Yongsan is more of a collective, shared space. The building is not sky high, but instead, it is spacious, designed to encourage interaction between all members. Stairs between floors help to bring the hierarchical barrier down, so everyone can communicate up and down. There are special places dedicated to the community on the 5th floor and in Cloud on the 21st floor. The main hall is designed to allow everyone to see each other face-to-face. In such a building that strengthens communication and collaboration, you should be able to interact better with each other and develop the qualities required of a great leader.

 February has already begun. Keep the vision of making a Great Company to beautify the world with our original Asian Beauty and participate in many good, meaningful things throughout the rest of the year. I wish you happiness and good health. Thank you.