Dear Respected Stakeholders,

Since its establishment in 1992, COSMAX Group has led the development of the global beauty industry, focusing on cosmetics, health functional foods, and pharmaceuticals ODM businesses not only in Korea but also in the USA, China, and ASEAN.

Under our corporate philosophy and slogan of <BARUM (Integrity)>—‘Make Business Integral,’ <DARUM (Invention)>—‘Make Technology Novel,’ and <ARUM (Beauty)>—‘Make the World Beautiful,’ all our employees have been committed to continuous change and innovation, practicing customer satisfaction management and pursuing mutual growth with our customers.

Due to these efforts, COSMAX has risen to become the world’s No.1 cosmetics ODM company since 2015. Furthermore, aiming to grow into the world’s No.1 beauty and health ODM company, we have adopted ‘Environmental Management’ and ‘Sharing Management’ as our innovative values and have reflected them throughout our corporate activities.

Moreover, COSMAX has taken a step further by establishing the ESG Committee in the first half of 2023 and has been actively engaged in implementing ESG management activities.

Dear Stakeholders,
Recently, the global cosmetics market has seen a noticeable surge in indie brands, driven by the influence of social media channels and influencers, and a growing market for customized cosmetics that cater to individuals’ specific needs.

Moreover, the keyword ‘eco-friendly’ is transforming the cosmetics industry’s ecosystem. In response to these trends, prioritizing environmental management is essential to contribute positively to society and our customers.

A future is approaching where products without environmental consideration will lose their value. This consideration should encompass not just raw materials or final products, but also auxiliary materials, production processes, and recycling after use.

As part of these practices, COSMAX has developed the world’s first ‘natural emulsification system’ that can replace chemical surfactants with microbes. This innovation has allowed COSMAX to create ‘pure natural cosmetics,’ a long-standing challenge in the industry, and in 2023, we won the Technology Innovation Award at the ‘IR52 Jang Young-sil Award Ceremony.’ Additionally, we achieved an ‘A-’ leadership rating in the climate change response category of the Carbon Disclosure Project (CDP) in 2023, recognizing our progress and efforts.

We also improved our rating in water management from a ‘B-’ in 2022 to a ‘B’ in 2023. Furthermore, we published a ‘Biodiversity Conservation Activity Report’ centered around Balancheon Stream near our Hwaseong plant, reflecting our ongoing ESG activities within the local community.

COSMAX aims to be a company that walks alongside local communities worldwide by practicing inclusive management tailored to various global regions, including Korea, China, the USA, and ASEAN countries. In Korea, in collaboration with the Korea Heritage Service, we have been promoting traditional Korean cosmetics developed with COSMAX’s technology in international markets.

In China, we have participated in the ‘Million Tree Project,’ a tree planting project, since 2015, contributing to local reforestation efforts. In Indonesia, we have been involved in infectious disease prevention and medical support activities, and in Thailand, we have supported local orphanages and other programs.

Dear Respected Stakeholders,
COSMAX is now poised to advance further and transform. As a first step, we have established a dedicated ESG organization to lay the foundation for systematic and continuous ESG management enhancement at the group level.

We have declared ‘eco-friendly management’ both internally and externally by recognizing the importance of sustainable management and developing mid- to longterm strategies.

Adopting business visions such as ‘Pursue shared growth with indie brands,’ ‘Offer the best and first to our customers and consumers,’ and ‘Lead the change in the customized cosmetics market’ in 2024, COSMAX aims to re-evaluate the market with fresh perspectives.

Based on this, COSMAX will continue to pursue sustained growth and development even amid rapid environmental changes, and we will provide new customer experiences and value based on digital innovation.

We are committed to pursuing sustainable growth through genuine communication with all stakeholders, including customers, executives and employees, suppliers, and local communities, and to diligently fulfilling our social responsibilities in environment, safety, human rights, compliance, and others.

As such, COSMAX will continue to do its utmost to progress as a ‘company that grows with its stakeholders’ through ongoing ESG activities. As always, we thank you for your steadfast support and ask for your continued interest and encouragement. Thank you.