COSMAX: Pioneering Global Growth for K-Beauty

■ Table of Contents

① Beyond China to the World: K-Beauty Takes Flight Again
② [Interview] Junsoo Shin, Director General of Biopharmaceuticals & Herbal Medicine, MFDS
③ AMOREPACIFIC
④ COSMAX
⑤ HanKook Kolmar

COSMAX became the first company in Korea’s cosmetics ODM industry to enter the Chinese market in 2004. Since then, it has steadily expanded into global markets—establishing operations in Indonesia (2011), the United States (2013), Thailand (2017), and Japan (2022). In addition, the company has set up sales offices in neighboring countries such as those in South America, Vietnam, and Malaysia. Today, COSMAX has built a global network spanning around 10 countries and exports its products to more than 40 nations.

COSMAX has played a pivotal role in the global spread of K-beauty through its differentiated export strategies, including: ▲ proactive entry into global markets and network building, ▲ a thorough localization strategy, ▲ the establishment of an “all-around” support system for co-growth with indie brands, and ▲ innovative research and development capabilities. In recognition of these efforts, COSMAX became the first company in Korea’s ODM industry to receive the $200 Million Export Tower Award.

Notably, more than half of COSMAX’s approximately 4,500 client companies are based overseas. As K-beauty continues to gain attention for its innovative ingredients, cutting-edge technologies, trend-savvy designs, and reasonable pricing, demand is surging not only from domestic but also from global indie brands.

Last year, COSMAX’s cushion foundation featuring a wide color spectrum ranked No. 1 in the beauty category on the largest e-commerce platform in the United States. This achievement is considered a prime example of synergy between COSMAX’s strategic product planning—tailored to the diverse, multi-ethnic U.S. market—and its “Smart AI Color Matching System” and agile production capabilities.

COSMAX plans to accelerate its global market expansion through its “Global One COSMAX” system, which strengthens collaboration among its six domestic and international subsidiaries—including those in the United States, China, Indonesia, Thailand, and Japan.

Until now, COSMAX has centralized its operations through its Korean headquarters, enabling real-time communication with overseas subsidiaries in research, development, and production. This has allowed the company to build a systematic response system for global clients. Additionally, COSMAX has established tailored co-growth strategies for individual indie brands, offering structured support from product planning to export. The company also plans to continue discovering and supporting emerging indie brands by collaborating not only with domestic platforms like SSG.COM but also with major global e-commerce platforms to facilitate their entry into international markets.

This year, COSMAX is launching the “LOCO Project” to secure clients in emerging markets such as India and Latin America. The project aims to deliver high cost-effectiveness by maintaining core product functions while diversifying the pool of ingredients and packaging materials to meet the specific needs of local consumers.

A COSMAX representative stated, “We expect the LOCO Project to serve as a driving force in leading local markets,” adding, “This year, we will continue to introduce innovative K-beauty products and further elevate the global presence of K-beauty.”