Invest KOREA

Amorepacific Corp., South Korea's biggest cosmetics company, said Friday that it will join hands with a Singaporean state-run research institute to develop next-generation anti-aging products.

   Amorepacific signed on Thursday a deal with the Institute for Medical Biology under the Agency for Science, Technology and Research to jointly develop anti-aging products, the company said in a statement.

   Amorepacific will spend more than US$100,000 over the next two years to develop high-end anti-aging products, it said.

   "We hope to provide customers with high-quality, anti-aging products in the near future by strengthening R&D and finding out new materials through cooperation with globally renowned biomedical research institutions," said Kang Hak-hee, chief technical officer of Amorepacific R&D Center in the statement.

   Following the tie-up with the Singaporean laboratory, the company will continue to build up networks with global biomedical researchers, Kang said.

Source: Yonhap News (April 22, 2011)