[THE INVESTOR] Korean cosmetics firm TonyMoly announced on Oct. 17 that it will build a new manufacturing facility worth 23 billion won (US$20.16 million) in Zhèjiāng Shěng, China, through its Chinese affiliate Megacos.

The manufacturing facility will be located on a 59,400 square-meter site and is expected to be completed in June 2017.

It is also set to make complementary investments in the future for “one-stop” system to operate all processes at a time, including product development and production line from containers manufacturing to packaging. 



By the year 2018, it aims to produce a total of 8 million units of skincare and makeup products and within three years, the factory will be expanded to have a production capacity of up to 25 million products. The Korean cosmetic firm’s affiliate also signed contracts with eight local businesses owners to provide 161 items.

“Once this production facility is completed, it will speed up manufacturing process while cutting costs,” said a company official. “Color cosmetics are the main items to enter original design manufacturing and original equipment production businesses. TonyMoly will showcase the outstanding production technology of Korea,” the official added.

By Yun Jeong-hyeon (clareyun@heraldcorp.com)