Together, the university, located in the country’s capital and cosmetics manufacturer, Cosmax, research inherent plant species in conjunction with Nagoya Protocol.
The College of Pharmacy at Seoul National University, which contains a herb garden, has provided Cosmax with a plant resource. Using these native plant species, the partners will develop new products such as Dama cosmetics and health functional foods.
Global cosmetics, health functional food and drug development (ODM) company, Cosmax, and Seoul National University College of Pharmacy have entered into a joint Memorandum of Understanding (MOU). This agreement will see the two entities highlight the growth of domestic native plants and plant resource research and development.
Lee Kyung-su, President of Cosmax Group and Lee Bong-Jin, PhD declared it was entering into this agreement on 2nd May 2018 at Seoul National University College of Pharmacy.
Since 1995, the Herb Farm at Seoul National University, College of Pharmacy has identified the presence of medicinal plant resource value. To date, it has acquired approximately 1,300 kinds of plant resources.
Plant resource development
The partnership will see Seoul National University give Cosmax access to its natural medicinal plant database and the largest scale of conservation and cultivation of seed in Korea.
Seoul National University's herbaceous garden will contain information on Korean native plants and propagate environment technology. The cooperation between the two will conduct joint research on conservation and cultivation methods and the physiological activity of sample seeds.
The Nagoya Protocol
The industry has been in preparation for the Nagoya Protocol, with yet unclear results. Currently, the pair is seeking to develop Korea-specific B & H (Beauty & Health) products through native plant research, which is urgently required.
The duo hopes to popularise and make resource-savings in the native plant arena in Korea.
"Korea recognises the importance of native plant species from its Nagoya Protocol, but it is still a passive situation. Cosmax is a unique biotech plant, I hope that it will be a cornerstone for the development of Korea,” revealed Lee Bong-jin, a professor at the Seoul National University College of Pharmacy.
“Through collaboration with Seoul National University, we will be able to recognize the importance of native plants and create economic value in cosmetics, pharmaceuticals and food in the future. I will actively promote cooperation with Seoul National University,” explored Lee Kyung-su, the head of Cosmax Group,
In August 2018, the Nagoya Protocol will be officially inaugurated following a one-year grace period.