LTP Global, a local packaging manufacturer, is seeking to expand its overseas business after it recently launched operations at its second factory in Hwaseong, Gyeonggi Province, company officials said Thursday.

The medium-sized company specializing in printing and cosmetics packaging built the factory to meet the rising demand both at home and abroad.

“We are optimistic about sales in China. And we are also going to be more aggressive in the American market this year,” a top executive said.

Founded in 2005, the company has gained its reputation in the local market through business deals with leading Korean cosmetics companies like AmorePacific, L&P, SNP, TonyMoly, and New Life.

LTP Global is the first Korean packaging manufacturer that has established a branch in China and a sales corporation in San Francisco for the U.S. market.

The company earned 2.7 billion won ($2.3 million) in profit and is seeking to go public this year, according to the officials. 

(hong1@heraldcorp.com)