Kolmar Korea Named One of the TIME’s World’s Best Companies for Sustainable Growth
Kolmar Korea (KRX: 024720) has been recognized by TIME Magazine as one of the World’s Best Companies for Sustainable Growth 2025.
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Kolmar Korea on TIME's World's Best Companies in Sustainable Growth 2025 (Image: Kolmar Korea)
On November 27, TIME, in collaboration with a global market research firm Statista, unveiled a list of the top 500 companies worldwide, demonstrating exceptional sustainable growth. Kolmar Korea took place 125th around the globe and 6th among Korean companies. Notably, it was the only Korean cosmetics company on the list, which featured a total of 23 Korean companies.
The rankings were based on an evaluation of revenue growth, financial stability, and environmental impact, each contributing equally to a final score out of 100 points. TIME and Statista analyzed 3,000 major companies from 150 countries, focusing exclusively on those with transparent environmental disclosures.
Kolmar Korea achieved an overall score of 81.44, ranking among the top 125 companies around the world. Specifically, it was the top 25% for revenue growth, with a three-year compound annual growth rate (CAGR) of 17%, and in the top 40% for financial stability. The company performed well in the category of environmental impact, ranking among the world’s top 10% in carbon emissions, eco-friendly energy use, and waste management. It scored the third-highest among Korean companies.
Kolmar Korea’s impressive ranking is a testament to its unwavering commitment to ESG (Environmental, Social and Governance) management. Along with its efforts to reduce carbon emissions, the company is actively pioneering eco-friendly technologies. These are underscored by its paper tube and paper stick, eco-friendly cosmetic containers that Kolmar Korea has first developed among industry leaders.
Developed in 2021, paper tube reduces plastic contents by over 80% compared to conventional containers. This eco-friendly container has garnered global recognition, winning top prizes at three prestigious design awards: IDEA (International Design Excellence Awards), iF Design Award, Red Dot Design Award. Paper stick, used in stick-type cosmetics, minimizes plastic usage by incorporating mineral paper, further evidencing Kolmar Korea’s competitiveness in green technologies.
Kolmar Korea has also worked together with market stakeholders to promote sustainable growth and foster industry-wide synergy. It has pursued shared growth with SMEs (small and medium enterprises including small indie brands) to expand its influence of K-beauty in the world. Thanks to such efforts, its K-beauty export hit a record high of USD 9.3 billion as of November 2024 while annual exports are projected to surpass USD 10 billion.
Kolmar Korea has also established an ESG committee under its board of directors to enhance its compliance program (CP) system and strengthen its transparent governance. These efforts have been recognized by prominent domestic ESG evaluation agencies such as the KCGS (Korea Institute of Corporate Governance and Sustainability) and Sustinvest. In their recent assessments, Kolmar Korea was awarded grade A.
Yoon Sang Hyun, Vice-chairman of Kolmar Group said, “It is pleased for Kolmar Korea to be named one of the world’s best companies.” He added, “We will continue to enhance sustainable management through eco-friendly technological innovation and remain committed to advancing our responsibilities as a leading Korean company in the world.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20241226863828/en/
Contacts
Kolmar Holdings
Jang-Woo Lee
jay.lee@kolmar.co.kr
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