[DISCLOSURE]
Coreana Cosmetics (027050) announced on June 21 that it has signed an exclusive supply contract for Orthia line in China, in response to Korea Exchange’s inquiry regarding media reports saying that it inked a 285 billion won (US$247 million) deal.
It is a three-party basic transaction agreement among its OEM/ODM Songjeong and local distributor in China, the cosmetics company explained. Based on this, the two parties not including Coreana signed an agreement for a five-year deal worth 287.5 billion won, it added.
