CTK Collaborates with AI Platform Company 'Good Face Project'

[Asia Economy Reporter Park So-yeon] Cosmetics platform company CTK announced on the 22nd that it has signed a strategic collaboration agreement with the U.S. startup platform company 'The Good Face Project.' The Good Face Project is a U.S.-based startup gaining industry attention by introducing the solution 'Good Face Formulator,' which verifies safety and compliance based on the latest regulatory information from countries around the world and retail.

By inputting the ingredient list of a cosmetic product, it immediately shows whether the product complies with relevant regulations for the intended launch region and retail stores. Currently, it supports regulatory reviews for cosmetics related to countries and regions including the U.S., China, the European Union (EU), the United Kingdom, Japan, and Korea, as well as global retail chains such as Sephora, Credo Beauty, Detox Market, QVC, Target, and Ulta. Each regulatory item is updated whenever changes occur.

CTK’s strategy with this strategic collaboration with The Good Face Project is to apply the Good Face Formulator in new product development to digitalize the research and development (R&D) and quality assurance (QA) processes.

Additionally, various partner companies’ formula products registered on its B2B beauty platform 'CTKCLIP,' which supports cosmetics development, will also undergo compliance and safety reviews using this solution to enable rapid registration.

Previously, to develop new products that meet the regulations of the target market and retail shops, regulatory review personnel had to manually compare ingredient lists and related regulations for dozens or hundreds of new products one by one.

For example, if a customer wanted to plan a product to be distributed through Sephora in the U.S., they had to download the latest regulations from the U.S. federal and state governments and Sephora, then search by raw material or ingredient to check compliance with regulations.

However, by collaborating with The Good Face Project and using this solution, the regulatory review time, which used to take several days, is innovatively reduced to within 5 minutes. Furthermore, since it automatically updates and reviews rapidly changing regulatory items, accuracy is also improved.

Choi Chi-ho, Vice President of CTK, said, "Digitalization will not only significantly reduce the working hours and manpower input of the departments in charge within CTK, thereby dramatically improving work efficiency, but it will also help domestic small and medium-sized partner companies lacking R&D capabilities produce products that comply with global regulations."

Meanwhile, CTKCLIP is a B2B beauty platform that allows checking thousands of raw materials, formulas, and packaging information to plan cosmetics that match each brand’s identity. Recently, it has added global fulfillment and branding services, evolving into a one-stop beauty platform that provides additional services related to the beauty business all at once.

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