Skin&Skin Launches Mask Manufacturing Business in Full Scale..."Registered with US FDA"

[Asia Economy Reporter Yoo Hyun-seok] Skin&Skin, a cosmetics manufacturing specialist company, announced on the 9th that it has equipped its Paju factory in Gyeonggi-do with dental-type mask manufacturing facilities and is starting full-scale mask manufacturing business. In addition, with the completion of the US FDA registration for its self-produced dental mask ‘Skin&Mask,’ overseas exports are also expected to be in full swing.

Skin&Skin stated in a ‘Letter to Shareholders’ posted on its official website that it installed a total of six machines, including two ultra-high-speed giant machines capable of producing about 1,000 dental-type masks per minute at its second factory in Paju, the first domestic company to do so. Furthermore, it plans to install about 20 more machines to produce up to 200 million masks per month.

Skin&Skin’s mask production equipment is evaluated as the most stable and fastest among dental-type mask products so far. Separately, it also plans to install KF94 health mask production machines targeting the fall and winter seasons, when supply shortages are expected.

Skin&Skin’s dental-type masks have completed testing and inspection reports from FITI Testing & Research Institute, an internationally accredited testing organization. Following US FDA registration, the company is also in the process of applying for European CE certification, and good results are expected soon.

Lee Hae-il, CEO of Skin&Skin, said, “The dental-type masks produced at the Paju factory are products focused more on export than domestic sales,” adding, “We started direct production because mask distribution alone could not meet the demand caused by the spread of COVID-19.”

Regarding the advance payment of 15 billion KRW to mask distributors, Skin&Skin explained, “At the time of the contract, due to the mask shortage, advance payments for part of the mask price under long-term contracts are a common practice in the distribution industry to ensure smooth supply. The advance payment decreases as the delivered amount increases.” It added, “In case of any disruption in mask distribution, a mortgage registration of 18 billion KRW was made on real estate located in Yongin, provided as collateral by the distributor for the advance payment.”

Meanwhile, Skin&Skin, aiming to turn a profit this year, recorded an operating profit of 400 million KRW in the first quarter, achieving profitability.