Mid-sized Korean cosmetics firm Caolion Cosmetics has signed a memorandum of understanding with POSCO Daewoo, mandating the latter to promote its cosmetics range via its global marketing network, according to a report published by The Korea Times.

Caolion Cosmetics will export two branded skin care ranges Caolion and JJ Young. POSCO Daewoo will promote exports to China, Southeast Asia, Europe, Latin America and Africa.

“We will do our best to promote Caolion Cosmetics’ products globally through our marketing network,” Nam Si-kyung, Senior Vice President at POSCO Daewoo told The Korea Times. “Beside this company, POSCO Daewoo will continue to help competitive small and medium-sized Korean companies seeking overseas expansion.”