iTech "Samsung Medicos and JLINC Sign Strategic Business Agreement... Expanding Distribution Channels"

[Asia Economy Reporter Hyunseok Yoo] Samsung Medicos, a pharmaceutical-based cosmetic specialist company, announced on the 17th that it has signed a strategic business agreement with distribution specialist company JLI&C to strengthen marketing and expand distribution channels.

Samsung Medicos, a subsidiary of KOSDAQ-listed company ITEC, is the 4th largest OEM·ODM specialist in Korea with a production capacity of over 4.2 million beauty products per month. It provides opportunities for global business by producing fusion cosmetics based on bio-pharmaceutical technology and complying with the U.S. Food and Drug Administration (FDA) current Good Manufacturing Practice (cGMP) standards.

JLI&C is a brand distribution specialist company that brings together product development, distribution, logistics, and marketing for a new leap in domestic and international distribution markets. It has the capability to handle all tasks in-house from product development to distribution and marketing, operates 23 online distribution channels including its own brand B:fore, and achieved annual sales of 13 billion KRW in 2020.

The signing ceremony held at Samsung Medicos headquarters in Hwaseong-si, Gyeonggi-do was attended by key officials from both companies, including CEO Seokyung of Samsung Medicos and CEO Junseok Chae of JLI Group.

According to the agreement, JLI&C will be responsible for sales and domestic distribution of various products related to Medicos’ K-quarantine based on its accumulated distribution channels over many years.

Samsung Medicos will ensure stable product manufacturing and joint marketing for B:fore, JLI Group’s infant skincare brand launched last October. Additionally, both companies plan to actively cooperate to discover and promote new joint business ventures by leveraging their accumulated know-how in production and distribution.

CEO Seokyung stated, "The two companies will also work on discovering and revitalizing joint OEM and ODM specialist brands," adding, "We plan to actively collaborate in various fields to maximize synergy effects between the two companies."

This content was produced with the assistance of AI translation services.