LG Chem announced on Tuesday that it had signed an MOU with Amorepacific at the latter’s headquarters in Yongsan the day before, aiming to enhance cooperation in the development and supply of eco-friendly packaging. (Image courtesy of LG Chem)
SEOUL, Oct. 18 (Korea Bizwire) – South Korea’s major chemical companies are collaborating with cosmetics companies to accelerate the development and supply of eco-friendly cosmetics packaging.
This transition is crucial for the cosmetics industry due to its short product replacement cycle, extensive use of plastics, and considerable waste production.
LG Chem announced on Tuesday that it had signed an MOU with Amorepacific at the latter’s headquarters in Yongsan the day before, aiming to enhance cooperation in the development and supply of eco-friendly packaging.
As per the MOU’s provisions, LG Chem will supply recycled materials, pyrolysis oil, and bio-based raw materials, while Amorepacific will incorporate eco-friendly materials into the packaging of cosmetic products and daily necessities.
LG Chem intends to broaden the supply of eco-friendly materials, such as bio-based ingredients and pyrolysis oil-based plastics.
This will be achieved by utilizing post-consumer recycled (PCR) polyethylene for Amorepacific’s Mise-en-Scene product packaging and PCR polypropylene for the caps.
Both parties will run an eco-friendly material development program, utilizing customer feedback and jointly establishing a circular model that connects supply, collection, and recycling.
LG Chem had previously signed a business agreement with Cosmax, the world’s largest cosmetics ODM company, boasting over 1,000 global clients, including L’Oreal.
SK Chemicals has also signed a Letter of Intent (LOI) with Estee Lauder to provide circular recycling solutions.
Estee Lauder, a global cosmetics firm with a diverse product portfolio, including color cosmetics, skincare, fragrances, and hair products, will benefit from this agreement.
Under the terms of the agreement, SK Chemicals will supply Ecotria CR and SKYPET CR, both utilizing materials from circular recycling, as well as ECOZEN CLARO, a recyclable material. Estee Lauder, in turn, will design cosmetics containers using materials supplied by SK Chemicals.
Ashley Song (ashley@koreabizwire.com)
