South Korea’s Cosmax beauty products get halal certification for Indonesia

Cosmax Inc, South Korea's original development manufacturing (ODM) cosmetics company, said its subsidiary PT Cosmax Indonesia has been granted halal certification from Majelis Ulama Indonesia (MUI), allowing the company to make a headway into the growing halal cosmetics market. 

MUI's halal certification is accepted across 40 countries and will allow Cosmax's products to meet consumer demands in the world, including Southeast Asia and the Middle East, said head of PT Cosmax Indonesia Lee Kun-li in a statement. 

Salaam Gateway estimates that the global halal cosmetics market was worth $20 billion in 2014 and will grow to reach $45 billion by 2020. The Southeast Asian sector is currently estimated at $1 billion. 

Cosmax is not the first from South Korea to enter the fast-growing halal cosmetics market. Talent Cosmetics has around 550 products, of which 147 have received halal certification from Malaysian certifier JAKIM. 

Cosmax Inc recently announced record-high sales of 533.3 billion won in 2015, pushing up operating profit 25.5 percent year-on-year to reach 35.9 billion won. This was primarily driven by sales in the Chinese market, which recorded 202.5 billion won in revenue. 

($1 = 1,164 won)