Cosmax Signs MOU with Hyundai Home Shopping for Customized Beauty Product Development
By: www.tokenpost.kr|2026/08/24 00:31:10
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Cosmax and Hyundai Home Shopping have signed a memorandum of understanding (MOU) to jointly develop customized beauty products. The signing ceremony took place on the 20th at Hyundai Home Shopping's headquarters in Gangdong-gu, Seoul, attended by Lee Byung-joo, CEO of Cosmax Biotech, and Han Kwang-young, CEO of Hyundai Home Shopping, among other officials. This agreement aims to enhance the competitiveness of Hyundai Home Shopping's offline beauty edit shop, Coasis, and expand the ultra-personalized cosmetics market. Cosmax will be responsible for the manufacturing and production of exclusive products based on customized solutions, while Hyundai Home Shopping will handle product planning, design, distribution, and marketing. NPB refers to jointly developed products planned by distributors and manufacturers for sale through specific channels. Cosmax recorded the highest global cosmetics ODM sales in the second quarter of this year, with consolidated sales of 794.9 billion KRW and operating profit of 73.7 billion KRW, representing increases of 27.5% and 21.2%, respectively, compared to the same period last year. The specific launch schedule or sales targets for the agreement have not yet been disclosed.
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