Cosmax discusses measures to protect K-beauty technology with the Ministry of Intellectual Property

[Financial News] Global cosmetics ODM company Cosmax discussed measures to protect intellectual property in the industry with the Ministry of Intellectual Property.
According to industry sources on the 2nd, Ministry of Intellectual Property officials, including Vice Minister Jeong Yeon-woo, visited Cosmax’s Research & Innovation (R&I) Center in Pangyo, Seongnam, Gyeonggi Province, on the 29th.
The two sides shared challenges in protecting intellectual property arising during research and development in the cosmetics ODM industry and discussed institutional improvements to strengthen the industry’s competitiveness. The Ministry of Intellectual Property gave a presentation on “Trends in Intellectual Property Protection Policies for the Innovative Growth of Our Cosmetics Industry.”
Drawing on its experience in research and development and manufacturing, Cosmax proposed institutional improvements, including revising the list of products subject to partial examination for designs, such as cosmetic containers; standardizing the notation of compounds in chemical inventions; and clarifying the requirements for ODM companies to report counterfeit products and request investigations.
As of the end of the most recent third quarter, Cosmax had filed a cumulative total of around 2,000 patent applications and registered around 900 patents, among other efforts to protect its technology.
Cosmax CEO Choi Kyung said, “For ODM companies, technology is both a source of trust with clients and a competitive advantage. I hope the voices from the field will lead to institutional improvements and help safeguard K-beauty’s technological competitiveness.”
[email protected] Kang Myeong-yeon Reporter