[Provided by Gyeongsan city government]
[Provided by Gyeongsan city government]

The city of Gyeongsan in North Gyeongsang Province signed an investment MOU worth 3.9 billion won ($2.95 million) with Karma Cosmetic at Gyeongsan City Hall, the city announced Tuesday.

Under the agreement, Karma Cosmetic — a specialist in color cosmetics — plans to build a new factory on a 3,503-square-meter site within the Gyeongsan Cosmetics Specialized Complex.

Founded in 1998, Karma Cosmetic produces a wide range of products including eyeliners, mascaras and lipsticks, drawing on decades of manufacturing experience and technical expertise. The company has also expanded into overseas markets including China, Japan and Vietnam, earning recognition for its global competitiveness.

"We are deeply grateful for this new investment from Karma Cosmetic, a company that has built up its technology and competitiveness in our region over many years," Gyeongsan Mayor Jo Hyeon-il said. "We will continue to create an environment where businesses can invest with confidence, and spare no effort in supporting the local cosmetics industry as it leads the global K-beauty market."


kbj7653@heraldcorp.com