POSCO Daewoo to promote Korean cosmetics

Lee Hoon-seung, left, executive vice president of POSCO Daewoo, with Joo Eun-hee, chairman and founder of Caolion Cosmetics, after signing a memorandum of understanding at POSCO Daewoo’s headquarters in Songdo, west of Seoul, Monday. / Courtesy of POSCO Daewoo

By Park Si-soo

POSCO Daewoo has signed a deal to promote exports of a mid-sized Korean cosmetics company, Caolion Cosmetics.

The nation’s biggest trading company signed a memorandum of understanding (MOU) with the cosmetics firm at the former’s headquarters in Songdo, west of Seoul, Monday. Under the deal, POSCO Daewoo will promote exports of Caolion Cosmetics’ products to China, Southeast Asia, Europe, Latin America and Africa using its global marketing network

The cosmetics firm will export products under two brands -- “CAOLION” for sensitive skin and “JJ Young” for young people.

“We will do our best to promote Caolion Cosmetics’ products globally through our marketing network,” said Nam Si-kyung, senior vice president of POSCO Daewoo. “Beside this company, POSCO Daewoo will continue to help competitive small and medium-sized Korean companies seeking overseas expansion.”

Early this year, POSCO Daewoo launched a task force dedicated to exploring new products or services suitable to become the company’s new growth engines.