Cosmo First, a leading global conglomerate into multiple businesses, has entered a strategic 50-50 joint venture with Filmax Corporation, a known South Korean Films & Chemical Company with strong local market equity. The new entity is set to jointly introduce and scale multiple business verticals of Cosmo First into the South Korean market and take Filmax products into the global market through the former’s various global arms.
The JV will leverage Cosmo First’s technology, global supply chain, and proven expertise in innovative specialty & consumer films, chemicals and rigid packaging, and Filmax Corporation’s brand equity, market reach and consumer loyalty in the South Korean market.
Both partners will share an equal equity stake, reflecting their commitment to long-term growth and shared value creation. The JV will deliver enhanced products for manufacturers and brand owners, benefitting from local insights and global best practices.
Chairman and managing director, Cosmo First, Ashok Jaipuria, said, “This collaboration marks an exciting new chapter for Cosmo First. By joining hands with Filmax Corporation, we merge global innovation with South Korean excellence. Together, we are confident of achieving ambitious growth, delivering superior value to customers across the globe, and setting new standards in specialty film solutions.”
Speaking on the joint venture, Byung Ik Woo, chairman, Filmax Corporation, said, “Our partnership with Cosmo First is a major step toward not only reinforcing our leadership position in the region but also taking our expertise to the global stage. By combining Cosmo First’s proficiency in innovative specialty films and chemicals with our robust market presence and reach in South Korea, we aim to set new industry benchmarks. We look forward to driving this impactful and value-driven association.”
