Amorepacific Corp. (090435.KS,090430.KS),a South Korean beauty and cosmetics company, Tuesday said that it had recently signed a Memorandum of Understanding or MoU with Viol Medical, a medical devices manufacturer, to work together in the beauty and medical sectors.
The company said that the partnership will focus on combining Amorepacific's skincare expertise with Viol Medical's device technology to develop new products and services, including home beauty devices. The two companies will also work together on product development and marketing, it added.
As part of strengthening this collaboration, Amorepacific said that it has made a strategic investment in Viol Medical.
Commenting on the developments, Sean Kim, CEO of Amorepacific, said, "Since its founding, Amorepacific has led Korea's beauty industry through long-standing research and expertise in skin science. Through our partnership with Viol Medical, we aim to connect professional treatment settings with everyday home care and offer new beauty solutions to customers worldwide."
On the Korean Stock Exchange, 090435.KS ended Monday's trading at 46,300.00 South Korean Won, down 1.2 percent.
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