The 'Korean Cosmetics Manufacturing' Trend Continues UnstoppableBody: COSMAX Thailand Aims to Become ASEAN's Leading ODM Targeting Sales of Over 200 Billion KRW Within 3 Years

The trend of wanting to manufacture cosmetics "Korean style" is surging in the Thai market, resulting in a continuous increase in demand for full-service product manufacturing. Meanwhile, COSMAX Thailand is reinforcing its position as the leader in Korean-style cosmetics manufacturing, targeting 200 billion KRW in sales within 3 years, and laying out a roadmap to become the ODM hub of Southeast Asia.

Mr. Kang Ming-gu, Executive Director of COSMAX (Thailand), revealed that "The Thai beauty market is growing rapidly, with its value reaching 10 trillion KRW, and is considered one of the most high-potential markets in the region."

The rapidly expanding business landscape is being driven by global brands such as L'Oréal and Estée Lauder. Simultaneously, local brands like Mistine and Srichand are also showing outstanding growth. Coupled with the rising popularity of Thai multi-brand stores such as EVEANDBOY and Beautrium, the distribution structure in the Thai market is shifting towards a model that offers new players easier opportunities for growth than before.

Amidst this transformation, the role of ODM manufacturers is becoming even more critical. COSMAX Thailand has emerged as one of the fastest-growing companies, with sales increasing fourfold since its establishment just six years ago, and is expected to achieve sales of over 800 million KRW this year.

"Thailand is the most important strategic base for expanding into the Southeast Asian market," said Mr. Ming-gu. He added, "Thailand has everything: a large domestic market, manufacturing infrastructure, and easy access to neighboring countries. This makes it the perfect location to elevate the ODM system to the same standard as Korea, in terms of quality, design, and development process."

A key strength of COSMAX is adapting the Korean ODM system to align with local market needs by offering integrated services, starting from product type planning and packaging selection to providing marketing consultation.

Regarding R&I (Research & Innovation), the company has elevated product quality control standards to be consistent with the Korean headquarters by connecting and sharing quality data in real-time, including stability of the formula, viscosity, and color, to ensure the most consistent production efficiency and product quality.

"From consumers previously thinking that manufacturing location didn't matter, today it has become 'I want Korean quality' more and more—including the formula, packaging, and design. Everything must have that Korean feel," he stated. He also revealed that a new factory is currently under construction, which will boost production capacity and is expected to push sales to reach 2 billion KRW within 3 years.

One notable success story that clearly reflects the DNA of K-Beauty is the dramatically fast growth of "pouch type" products in Thailand. Whether it's cream, skincare, sunscreens, or even foundation, all have been developed into easy-to-carry pouch formats. This format specifically addresses the behavior of Thai consumers and is available in both convenience stores and online channels.

COSMAX views Thailand as no longer merely a “final destination market for K-Beauty,” but rather as a growing “crucial production base for ASEAN” that transmits Korean-style beauty to Vietnam, Indonesia, and Malaysia.

Source Information

• News : Money Today (머니투데이)

• Publication Date: November 10, 2025

• Column/Edition: Economic Section, Page 18 (경제 18면)