Cosmax Inc., South Korea’s cosmetic material developer and original development manufacturer, said on Friday that it has obtained a Fairtrade certification from Fairtrade International (FLO), becoming the country’s first industry player to receive the international ethical mark.

FLO ­- established in Germany in 1997 - has offices in 34 countries across the world and produces Fairtrade certified products with producers in 75 countries. FLO promotes global consumption movement that provides additional payment for the development of regional society and fair price higher than international prices to workers and farmers in developing countries that are trapped in poverty due to an unfair trade system.

Cosmax has been engaged in corporate social responsibility activity by encouraging employees to use Fairtrade certified products in the cafeteria and staff lounge at work. Products that comply with Fairtrade standards are retailed with a Fairtrade label.

An unnamed official from Cosmax said that the company thinks highly of promoting shared growth with local partners when making inroads into overseas markets such as China, the United States, and Association of South East Asian Nations, and that it will take the lead in introducing CSR activities with global partners that meet international standards.

The FLO certification at a workplace can be obtained by meeting various qualification requirements and hiring a general manager overseeing Fairtrade product consumption. About 10 entities in Korea have been certified as Fairtrade workplace including Louis Vuitton and Wikitree.

Shares of Cosmax remained unchanged from the previous session at 139,500 won ($124) on Friday.

By Kang Da-young and Lee Eun-joo

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