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Winner of the Grand Prize (Shared Growth Committee Chairman’s Award)

Cosmax, a cosmetics original design manufacturer (ODM), supplies innovative products to roughly 5,000 clients at home and abroad and has become a leading force in driving collaborative growth across the beauty industry. Cosmax’s Korea arm provides export products worth about 660 billion KRW (approximately 495 million USD) to some 2,200 domestic and international clients.

When Cosmax was founded in 1992, Korea’s cosmetics market still required brands to handle their own research, development and manufacturing to compete. Spotting the potential of the ODM model, Cosmax steadily invested in R&D and expanded its facilities—and helped power the K-beauty renaissance.

Cosmax didn’t stop there. Leveraging one of the industry’s broadest global networks, the company has actively taken K-beauty to markets around the world.

After entering China in 2004—the first Korean cosmetics ODM to do so—the company now operates 19 factories across five countries, including the U.S., Indonesia, Thailand, Japan and Italy, with capacity to produce more than 3.3 billion cosmetic items a year.

Beyond scale, the Cosmax R&I Center has been the engine that helped turn the company into the “TSMC” of the beauty world. The group’s global R&D team tops 1,100 people, with regional teams in Korea, China, the U.S., Indonesia, Thailand and Japan developing products tailored to each market.

Drawing on its R&D strength, Cosmax has created category-defining products—cushion foundations, CC creams, gel eyeliners, lip tints and quadruple-functional cosmetics. Its cushion foundation, in particular, has won wide approval across ethnicities and passed 800 million units in cumulative global production.

Cosmax also holds top-tier expertise in the skin microbiome field. The company consistently reinvests more than 5% of its revenue into R&D to keep pushing world-class technology, strengthening global K-beauty while meeting its corporate social responsibilities.