[THE INVESTOR] Shares of AmorePacific, the nation’s largest beauty company, were undeterred by a recall of its toothpaste products containing toxic chemicals on Sept. 27.
The stock price tumbled once in the earlier trading on the day but it recovered in the afternoon to close at 400,000 won (US$364), up 1,000 won or 0.25 percent, from the previous session.
Earlier in the day, the Korea Food and Drug Administration said it has found toxic chemicals -- chloro-methylisothiazolinone and methylisothiazolinone -- in a preservative, called sodium lauryl sulfate, used in the AmorePacific products.
Except one, all the products are sold in the market under popular brand name such as Median and Songyeom. The company has withdrawn the products from retailers, offering refunds to customers.
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AmorePacific recalls 11 toothpaste products containing toxic chemicals
The agency, however, said the tiny amount of containment doesn’t need to cause health concerns among consumers, adding that the recall order was made because sodium lawryl sulfate is a prohibited preservative in Korea.
Actually, preservatives containing CMIT and MIT are allowed to be used in toothpastes in the US and Europe but local regulators ban the use. Only three preservatives -- sodium benzoate, paraoxivengosanmetil and paraoxybenzopropyl -- are allowed to be used here.
The agency said the AmorePacific toothpastes contained about 0.0022 to 0.0044 parts per million of the material, which compares to the allowable level of containment at 15 parts per million abroad.
By Lee Ji-yoon (jylee@heraldcorp.com)
The stock price tumbled once in the earlier trading on the day but it recovered in the afternoon to close at 400,000 won (US$364), up 1,000 won or 0.25 percent, from the previous session.
Earlier in the day, the Korea Food and Drug Administration said it has found toxic chemicals -- chloro-methylisothiazolinone and methylisothiazolinone -- in a preservative, called sodium lauryl sulfate, used in the AmorePacific products.
Except one, all the products are sold in the market under popular brand name such as Median and Songyeom. The company has withdrawn the products from retailers, offering refunds to customers.
Related article :
AmorePacific recalls 11 toothpaste products containing toxic chemicals
The agency, however, said the tiny amount of containment doesn’t need to cause health concerns among consumers, adding that the recall order was made because sodium lawryl sulfate is a prohibited preservative in Korea.
Actually, preservatives containing CMIT and MIT are allowed to be used in toothpastes in the US and Europe but local regulators ban the use. Only three preservatives -- sodium benzoate, paraoxivengosanmetil and paraoxybenzopropyl -- are allowed to be used here.
The agency said the AmorePacific toothpastes contained about 0.0022 to 0.0044 parts per million of the material, which compares to the allowable level of containment at 15 parts per million abroad.
By Lee Ji-yoon (jylee@heraldcorp.com)
