LG

■ On the 9th, LG Chem and COSMAX signed an MOU for the development and marketing of cosmetic containers based on eco-friendly materials.
 □ Collaboration between the leading companies in their respective fields… proposing eco-friendly products to over 1,000 global cosmetic companies.
 □ Plans to expand the application of various eco-friendly materials, starting with the supply of transparent and antibacterial recycled ABS materials
 
■ Kim Sangmin (Senior Vice President / Head of Business Unit, ABS Business Unit)
"Through our collaboration with COSMAX, the world's leading cosmetics ODM company that actively takes the lead in ESG management, we will actively support the development of eco-friendly materials for our customers and contribute to strengthening the resource circulation system in the cosmetics market."
 
 
LG Chem produces cosmetic containers from recycled plastic to deliver real eco-friendly values to customers.
 
On the 9th, LG Chem announced that it has entered into an MOU with COSMAX at LG Twin Towers in Yeouido to collaborate on the joint development of cosmetic containers using eco-friendly materials and conduct joint marketing targeting global cosmetic companies.
 
COSMAX is the world's leading Original Design Manufacturer (ODM) for cosmetics, providing product development and manufacturing services to over 1,000 global customers, including L'Oréal.
 
Both LG Chem and COSMAX, as leading companies in the fields of chemicals and cosmetics, anticipate that this agreement will be an opportunity to promote K-Beauty using eco-friendly materials to global customers.
 
Starting with the supply of recycled plastic *PCR ABS, LG Chem plans to propose various eco-friendly materials to COSMAX and collaborate with them in the entire process from the development of cosmetic containers to its marketing.
* PCR(Post-Consumer Recycled) ABS(Acrylonitrile Butadiene Styrene) : Recycled high-value synthetic resin
 
For PCR ABS, LG Chem plans to supply eco-friendly materials with differentiated technology, such as transparent products considering aesthetics, as well as antibacterial products with a focus on safety and health. It also plans to expand its supply to materials using pyrolysis oil (chemical recycling) and bio-based raw materials.
 
The cosmetics industry has a fast consumption and replacement cycle of products, and a significant amount of plastic is used and discarded. Therefore, switching to containers using eco-friendly recycled plastic materials is essential.
 
Due to the recent strengthening of eco-friendly regulations such as the introduction of carbon border taxes in the EU, many global cosmetic companies have announced their commitment to attaching carbon footprints to their products and expanding the use of recycled plastic by 2030.
* Carbon Footprint: An indicator that represents the total amount of greenhouse gases (carbon dioxide) emitted during the production and consumption process of a product.
 
Kim Sangmin (Senior Vice President / Head of Business Unit, ABS Business Unit) stated, "Through our collaboration with COSMAX, the world's leading cosmetics ODM company that actively takes the lead in ESG management, we will actively support the development of eco-friendly materials for our customers and contribute to strengthening the resource circulation system in the cosmetics market."