LG Chem, COSMAX Partner for Green Cosmetic Packaging
In an exciting collaboration, LG Chem, a leading chemical company, and COSMAX, a renowned cosmetic manufacturer, have embarked on a groundbreaking journey towards developing eco-friendly cosmetic containers.
The collaborative efforts aim to provide customers with authentic, eco-friendly solutions, revolutionising the beauty industry.
LG Chem, known for its expertise in chemical production, and COSMAX, renowned as the world's top Original Design Manufacturer (ODM) for cosmetics, jointly announced the memorandum of understanding (MOU) at LG Twin Towers in Yeouido. This collaboration entails the development of eco-friendly cosmetic containers and targeted marketing campaigns aimed at global cosmetic companies.
With over 1,000 global customers, including prestigious brands like L'Oréal, COSMAX brings extensive experience and influence to the table. As leading companies in their respective fields, LG Chem and COSMAX envision this partnership as an opportunity to promote eco-friendly K-Beauty to a wider global audience.
Commencing with the supply of post-consumer recycled (PCR) ABS (Acrylonitrile Butadiene Styrene), LG Chem plans to propose a diverse range of eco-friendly materials to COSMAX. The collaboration will encompass the entire process, from the development of cosmetic containers to their marketing strategies.
LG Chem aims to provide PCR ABS materials with distinctive technologies, including transparent products that prioritise aesthetics as well as antibacterial variants focusing on safety and health. Furthermore, the company plans to expand its supply of materials utilising pyrolysis oil (chemical recycling) and bio-based raw materials.
Considering the rapid product consumption and replacement cycle in the cosmetics industry, the shift towards containers made from eco-friendly recycled plastics becomes crucial. This move aligns with the recent surge in eco-friendly regulations, such as the introduction of carbon border taxes in the EU. Numerous global cosmetic companies have pledged to disclose their carbon footprints and increase the use of recycled plastic by 2030.
Kim Sangmin, Senior Vice President and Head of the ABS Business Unit, expressed enthusiasm about the collaboration with COSMAX, emphasising the company's commitment to ESG management. He stated, "Through our partnership, we will actively support our customers by developing eco-friendly materials and contribute to strengthening the resource circulation system in the cosmetics market."
Together, LG Chem and COSMAX embark on a shared mission to promote sustainability in the cosmetics industry and provide customers with environmentally conscious options without compromising quality or aesthetics.
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Source: LG Chem