Friday, May 31st, 2013
SEOUL, KOREA - Kolmar Korea, the nation's largest original equipment manufacturer in cosmetic products, will build a new cosmetic materials plant billed as Asia's largest near the Sejong Special Self-Governing City. The investment amount of 33.8 billion won represents 34 percent of its paid-in capital.
According to the company, the plant, to be completed by May 2014, will churn out cosmetic materials worth 600 billion won a year. Once the plant is up and running, the company will be able to triple its capacity. In addition to the Sejong plant, Kolmar currently has 13 production locations including 12 in Korea and one in Beijing.
A Kolmar Korea official said, "Based on the global network we have in nine countries in the world, we will expand toward markets in the Middle East, new Asian locations, Europe, and the Americas, as well as Korea and China."