NEW DELHI , Nov. 14, 2025 /PRNewswire/ — Cosmo First Limited, a leading global conglomerate with multiple businesses (including Specialty/Consumer Films & Chemicals, Rigid Packaging and Petcare) has entered into a strategic 50-50 joint venture with Filmax Corporation, a renowned South Korean film and chemical company with strong local market value. The new entity plans to jointly introduce and scale multiple business verticals of Cosmo First in the South Korean market and bring Filmax products to the global market through the former’s various global arms.
Partnership highlights
The JV will act as leverage:
Cosmo First’s advanced technology, global supply chain and proven expertise in innovative specialty and consumer films, chemicals and rigid packaging, and
Filmax Corporation’s robust brand equity, market reach and consumer loyalty in the South Korean market
Both partners will share an equal equity stake, reflecting their commitment to long-term growth and shared value creation.
The JV will deliver enhanced products to manufacturers and brand owners, benefiting from local insights and global best practices.
Mr. Ashok Jaipuria, Chairman and Managing Director of Cosmo First, said on the occasion, “This collaboration marks an exciting new chapter for Cosmo First. By joining hands with Filmax Corporation, we can combine global innovation with South Korean excellence. Together, we are confident we can achieve ambitious growth, deliver superior value to customers around the world and set new standards in specialty film solutions.”
Speaking about the joint venture, Mr. Byung Ik Woo, Chairman of Filmax Corporation, said: “Our partnership with Cosmo First is an important step towards not only strengthening our leadership position in the region, but also bringing our expertise to the global stage. By combining Cosmo First’s prowess in innovative specialty films and chemicals with our robust market presence and reach in South Korea, we aim to set new benchmarks for the industry. We look forward to this impactful and value-driven partnership encourage.”
About Cosmo First Limited
Founded in 1981 by Mr. Ashok Jaipuria, Cosmo First today has five businesses, including two in the consumer vertical (digital first omnichannel Zigly Petcare and Cosmo Consumer in window films, paint protection films and automotive ceramic coatings) and three in the industrial sector, including Cosmo Films (in specialty BOPP, CPP and polyester films), Cosmo Plastech (thin-wall containers and plates) and Cosmo Specialty Chemicals (coatings, adhesives and masterbatches). Cosmo Films is the pioneer of BOPP special films in India and is currently the largest company for Cosmo First, with customers in over 100 countries. The remaining four companies are relatively newer companies (all started post-Covid) and are currently being scaled up.
About Filmax Corporation
Filmax Corporation is a flexible packaging manufacturer based in South Korea. In 1971, Filmax first produced cellophane in Korea and soon expanded into packaging materials such as BOPP (in 1974), CPP, SPP (biaxial stretching, non-stretch, shrinkable) films. With CY24 sales hovering around US$70 million, Filmax has enjoyed strong brand equity in the South Korean market over the past five decades.
Contact details: Ipshita Nayyar ipshita.nayyar@cosmofirst.com
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Published on November 15, 2025
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