DAMY Chemical CO., LTD. (Chairman: Cho Boo-seon) signed an MOU on December 13th with SupadElixir Co., Ltd., which was founded by the faculty of the Kangwon National University.

“Currently, imported products account for 80 percent in cosmetics materials market while the figure is only 20 percent for domestic ones. We cannot expect the growth of the domestic cosmetics market unless we reverse the trend and replace the imported products with domestic ones. I hope DAMY Chemical will be able to make this happen by working together with SupadElixir,” said the chairman.

Han Jang-hee, CEO of SupadElixir Co., Ltd. served as the director of the Life Science Research Center at Kangwon National University in 2010. He has been leading the application of various functional peptides to cosmetic materials and finished products through a cosmetic project group launched in 2012.