S. Korean health-care projects launched in Yantai

Yantai High-Tech Industrial Development Zone signed a memorandum of understanding with two South Korean cosmetics enterprises, Adama Group and Kolmar BNH, in Kongjuon, South Korea on March 26.

The two enterprises will jointly cooperate on a health-care project in the Yantai High-Tech Industrial Development Zone. The total investment of the first phase will reach 120 million yuan ($19.35 million).

The project plans to develop and produce health-care products in its initial stage and later focus on capsule products. The settlement will add new vitality to the development of the medical and health industry in the high-tech industrial development zone.

Founded in 1990, Kolmar BNH, which covers the three major business sectors of cosmetics, pharmaceuticals and health-care food, is a leading cosmetics manufacturer and has developed into the world largest cosmetics designer. It provides cosmetic raw materials for many famous brand like Innisfree, Johnson & Johnson and the Face Shop.

Yantai High-Tech Industrial Development Zone signs a memorandum of understanding with two South Korean cosmetics enterprises, Adama Group and Kolmar BNH at Kongjuon, South Korea on March 26. [Photo provided to chinadaily.com.cn]