GS Caltex is the first company in the world to develop mass production technology for GreenDiol, the brand name for 2,3-Butanediol, which offers excellent moisturizing, anti-inflammatory, and solvent properties.
Under the agreement signed Wednesday, GS Caltex will supply GreenDiol to Summit Cosmetics, leveraging the latter's global distribution network spanning North America, Europe, South America, and Japan to significantly boost overseas sales.
"Through this partnership, we expect GreenDiol's global market expansion to accelerate," said Kwon Young-woon, head of GS Caltex's Technical Research Institute.
Summit Cosmetics also plans to obtain approval from Japan's regulatory agency to market GreenDiol for functional cosmetic applications such as anti-wrinkle and whitening products, in addition to general cosmetic uses.
