ODM Kolmar Korea’s new CEO Yoon Sang-hyun has pledged that the company will become the leader in global cosmetics original design manufacturing (ODM) and also pharmaceutical contract manufacturing organization (CMO) in the next five years.

Speaking after his inauguration into the role of CEO, Sang-hyun, son of the company’s founder and Chairman Yoon Dong-han, said, “Kolmar Korea will aim to become the leader in the global cosmetics ODM market by 2018,”

Sang-hyun outlined some measures the company will take to make good on his plans, including building a new laboratory for cosmetic, pharmaceuticals and health product R&D researchers. The laboratory is currently under construction and will be finished by 2018.

He explained that the company would target one client and supply a specially tailored cosmetics line. This is in order to try and prevent major clients overlooking the company in favour of more budget-friendly products, as is often the case in ODM.