▲ This image provided by Aekyung Industrial shows products of its now-subsidiary beauty brand, One Thing. (PHOTO NOT FOR SALE) (Yonhap)

 

SEOUL, June 16 (Yonhap) -- Aekyung Industrial said Tuesday it has completed the merger of its subsidiary One Thing as part of efforts to strengthen its cosmetics brand competitiveness and expand its global business.

 

The merger was carried out under a simplified procedure and was completed through board approval without a separate shareholders' meeting.

 

After receiving objections from creditors through June 11, the company designated June 12 as the merger date and finalized the absorption process.

 

Aekyung Industrial said the merger will help improve the efficiency of its skincare business operations and enhance brand competitiveness, laying the foundation for future growth.

 

"We will combine One Thing's brand assets with Aekyung Industrial's business capabilities to foster the brand into a globally competitive skincare label," an official at Aekyung Industrial said.

 

jwc@yna.co.kr

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