[Alpha Biz= Reporter Kim Jisun] GS Caltex is expanding its eco-friendly cosmetic ingredient business by partnering with Summit Cosmetics, a global distributor of cosmetic ingredients, in Japan.
On the 13th, GS Caltex announced that it had signed a Memorandum of Understanding (MOU) with Summit Cosmetics in Tokyo on the 12th to pioneer the Green Diol cosmetic ingredient market and lead global white biotechnology business.
Green Diol is a natural substance developed by GS Caltex as the world's first technology for mass production. It is branded under the name '2,3-Butanediol' and is known for its moisturizing and anti-inflammatory effects.
Summit Cosmetics is working towards obtaining approval from Japan's Pharmaceuticals and Medical Devices Agency (PMDA) for Green Diol.
Once it receives approval from PMDA, equivalent to Korea's Ministry of Food and Drug Safety (MFDS), Green Diol can be used not only as a general cosmetic ingredient but also in various functional cosmetics such as anti-wrinkle and whitening products, expanding its potential market significantly.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
