Excellent Bio Infrastructure Integration and Synergy Effects Expected
Close Cooperation System, Discovering New Growth Engines in the Cosmetics Industry
On the 30th, Pohang City, COSMAX, and Pohang University of Science and Technology (POSTECH) held a business agreement ceremony at the university headquarters of POSTECH to discover new growth engines for the cosmetics industry and to promote the development of the bio-industry.
On the 30th, a business agreement ceremony was held at Pohang University of Science and Technology to discover new growth engines for the cosmetics industry and to promote the development of the bio-industry. (From the center left: Kyungsoo Lee, Chairman of Cosmax Group; Sungkeun Kim, President of Pohang University of Science and Technology; Kangdeok Lee, Mayor of Pohang) Photo by Pohang City
The ceremony was attended by more than 20 industry-academia-government officials, including Lee Kang-deok, Mayor of Pohang, Lee Kyung-soo, Chairman of COSMAX Group, and Kim Sung-geun, President of POSTECH.
COSMAX, a global ODM (research, development, and manufacturing) specialized company in cosmetics, has grown into the world’s number one company in sales in this sector through active global market expansion and innovation, possessing world-class research and development capabilities and manufacturing capacity.
Through this agreement, the parties agreed to mutually cooperate on ▲joint research to discover new growth engines for the cosmetics industry and establish an industry-academia-government network ▲discovering and supporting cosmetics industry companies leading regional industrial development.
Additionally, Pohang City, COSMAX, and POSTECH will establish an industry-academia-government cooperation system to strengthen technological competitiveness and work together for regional coexistence by discovering and nurturing promising local companies.
In the future, COSMAX, which possesses ultraviolet (UV) protection technology, and POSTECH, which has world-class scientific research capabilities, will conduct open innovation to develop new UV protection materials and new formulations.
To this end, the ‘UV Innovation Center’ (Pohang UIC), a specialized research center for UV protection agents, will be established within POSTECH to build a more efficient joint research system and produce rapid results.
In particular, Pohang City plans to establish a mid- to long-term roadmap for the advancement of cosmetics technology with COSMAX and promote startup support through technology transfer based on joint research outcomes, discover and nurture promising local companies, and foster core talents.
It is expected to contribute to sustainable mutual development through the cultivation of the cosmetics industry based on differentiated technology, following the process of ‘research and development - technology commercialization - corporate support.’
Lee Kyung-soo, Chairman of COSMAX Group, said, “This tripartite cooperation was promoted by uniting the will of companies, academia, and the local community to target promising sectors in the global cosmetics market. We will support the nurturing of talents needed for the Pohang regional industry and establish a virtuous cycle of industry-academia-government cooperation to advance UV protection research technology.”
Kim Sung-geun, President of POSTECH, stated, “The establishment of Pohang UIC is an industry-academia cooperation combining POSTECH’s world-class scientific technology and COSMAX’s top-level cosmetics research capabilities, and it is expected to create new achievements in K-beauty technology innovation.”
Mayor Lee Kang-deok said, “It is meaningful to establish an industry-academia-government cooperative relationship for the development of the cosmetics industry, which represents the bio-industry. We will actively support the transfer of Pohang UIC’s research outcomes to companies located in the Pohang area through COSMAX to contribute to regional industrial development.”
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