[DISCLOSURE] Cosmetics firm Coson (069110) announced on Oct. 12 that it has signed an agreement with Nexteye (137940), a visual inspection equipment manufacturer, to launch a joint corporation called Village 11 Factory to attract more customers both in South Korea and China.

Coson will come up with new distribution channels to target the Chinese market, such as entering duty-free stores in China and e-commerce sector together with Nexteye’s largest shareholder, Aesthetic International Beauty Chain Group of China.

In turn, Nexteye will cooperate with Coson to diversify new distribution channels here, Coson said.

Coson and Nexteye will invest 2.45 billion won (US$2.18 million) and 2.55 billion won, respectively, to establish the JV. The amount is equivalent to 4.84 and 6.59 percent of each company’s equity capital. Coson will own a 49 percent stake, and Nexteye the rest.

By Park Yuna (yunapark@heraldcorp.com)