Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
Cosmax Group has set its sights on Thailand for the expansion of its K-beauty cosmetic formulations. The company is the largest cosmetics manufacturer in South Korea, specializing in original design manufacturing (ODM).
On Monday, Nov. 27, Cosmax said it is stepping up its business expansion in Southeast Asia and targeting Thailand. This is because there is an increased preference for Korean makeup and cosmetics despite the country's humid climate. In particular, K-style lip balms and cushion foundations are becoming really popular in the region.
Producing New Formulations for Thai Consumers
According to The Korea Economic Daily, as Cosmax becomes aware of the increase in the use of Korean cosmetics in Thailand, it will create new formulations to suit the hot weather there. This means it will cater to the needs of Thai customers so they can get the most out of the Korean cosmetics they buy.
For this plan, Cosmax will form new categories in the Southeast Asian beauty market by augmenting its makeup formulation lineup. The company will ensure that this new category will still reflect the K-beauty trend even if customized products are made especially for the locals.
"Based on Cosmax's unique technology and localization research, we are continuously introducing new types of K-beauty products that did not exist in the Thai market," Chosun Business quoted Lee Byung Man, chief executive officer of Cosmax Bio Technology Innovation (BTI) as saying in a statement. "We will contribute to expanding the K-beauty base by expanding collaboration with local indie brands in Thailand."
Collaboration with Local Companies in Thailand
Cosmax is able to rapidly develop new products for Thai customers through collaboration with local production firms. The company partnered with them to speed up product development and distribution in the country.
At this point, the focus of the production is K-beauty formulations for lip balms and cushions. Cosmax said that items produced in Thailand can also be exported to nearby countries where the popularity of Korean cosmetics is growing as well, such as India, Cambodia, Vietnam, and Myanmar.
Photo by: Cosmax Website
