With this new collaboration, the company aims to expand its presence in the global sun care market, with a focus on the US, where it has observed high growth of Korean beauty brands.
This is also in line with Cosmax’s strategy to pioneer new frontiers in the sunscreen market to drive growth globally.
UV protection is an area of strong importance for Cosmax, accounting for 20% of total sales.
In the past five years, the company has applied for around 580 patents and more than 10% were related to UV protection.
The company believes there is more room for growth as the market is hungry for innovation.
It has been keeping an eye on the trend of “diversifying sun care formulations”, with new formats such as cushions, sticks, patches, and sprays.
In the first quarter of this year, the firm saw sales of sun care cushions surge three-fold compared to the same period last year.
Earlier in 2024, the company set up a dedicated sun care lab within its research and innovation centre in Korea.
Over the years, the company has also established local inventories in China, Japan, Indonesia, Thailand, and the US, that are tailored to local consumers.
A crucial collaboration
Cosmax and POSTECH have collaborated since 2019, with several joint research projects.
This includes the development of Skin Communicator, a delivery system it debuted at International Federation of Societies of Cosmetic Chemistry (IFSCC).
In November, Cosmax announced the development of Janus Nanoparticles, created in collaboration with POSTECH.
According to the firm, Janus Nanoparticles feature unique UV-blocking material which does not require the use of surfactants.
By using nanoparticles with both hydrophilic and lipophilic properties, it is able to significantly improve texture such as stickiness associated with conventional sunscreens.
“We expect to create new results in K-beauty technological innovation through industry-academic cooperation that combines POSTECH’s world-class scientific and technological prowess with Cosmax’s top-level cosmetics research capabilities,” said Kim Sung-keun, president of POSTECH.
The ODM said this was a collaboration between itself, POSTECH, and the local Pohang government.
The overarching aim was to “expand global sun care research technology competitiveness and contribute to regional coexistence by discovering promising local companies.”
“This three-way collaboration was promoted through a joint effort among companies, academia, and the local community to target promising areas of the global cosmetics market,” said Lee Kyung-soo, chairman of the Cosmax Group.
“We will support the training of talent needed for local industries in Pohang and, through this, establish a virtuous cycle of cooperation between industry, government, and academia to advance UV protection research technology.”
