Clariant agreed to acquire a 17% stake in South Korea’s BioSpectrum for an undisclosed sum. The family-owned company, headquartered in Seoul, is a developer and supplier of specialty active cosmetic ingredients derived from plants. BioSpectrum will remain an independently managed company and Clariant will sell and market its portfolio worldwide, excluding Korea.

“Our investment in BioSpectrum will give us further access to highly innovative active ingredients based on renewable raw materials. This corresponds to a growing consumer demand for natural cosmetic ingredients, not only in the emerging markets of Asia but worldwide,” said Hariolf Kottmann, Clariant’s CEO.

In addition, Clariant said the partnership would enhance its previous investment in Brazilian natural ingredients company Beraca. The Swiss specialty chemicals producer took a 30% share in Beraca’s Health and Personal Care division in January 2015.

BioSpectrum’s portfolio of functional ingredients is derived from exotic Asian plants, particularly those found on South Korea’s Jeju Island, which is home to more than 1,800 species. Its CEO, Deok-Hoon Park, said the partnership with Clariant would support its fast and ambitious expansion plans. In separate news, Clariant has started up additional capacity for phosphate esters in Gendorf, Germany.

It said the new capacity would meet global demand in the industrial lubricants, paints & coatings, crop solutions and personal care market segments. Phosphate esters are used as emulsifiers, wetting and dispersing agents, antistatic agents and as extreme pressure/anti-wear additives for metalworking fluids.