Recently, Korean cosmetics company COSMAX announced its collaboration with GS Caltex to develop eco-friendly cosmetic packaging materials.
According to reports, this partnership began with forward-looking customized development of cosmetic containers during the material research phase. GS Caltex will exclusively customize and supply functional material called “Cosmax PP (Polypropylene)” for cushion foundation containers to COSMAX. The two companies have also decided to gradually expand their cooperation in the field of environmentally friendly materials and energy in the future.
It is worth mentioning that in the first quarter of 2024, COSMAX witnessed a year-on-year sales growth of approximately 28% for air cushion. During the same period, the sales of their SPF air cushion products increased by about 234%.
Furthermore, COSMAX stated that with the increasing demand, they are actively developing new products such as high-end skincare cushion using their exclusive emulsification technology. They plan to develop various innovative cushion cosmetics using new materials applicable to customer companies within this year.
Public information reveals that GS Caltex was established in 1967 as a joint venture between the pre-restructured LG Group and U.S. company Caltex. It was also the first privately-owned oil company in South Korea. After the LG Group’s restructuring in 2005, LG Caltex was renamed GS Caltex.
