Coson announced on Oct. 12, 2016 that it has signed an agreement with Nexteye to launch a joint corporation called Village 11 Factory to attract more customers both in South Korea and China. Coson will come up with new distribution channels to target the Chinese market, such as entering duty-free stores in China and e-commerce sector together with Nexteye's Aesthetic International Beauty Chain Group of China.

In turn, Nexteye will cooperate with Coson to diversify new distribution channels here. Coson and Nexteye will invest KRW 2.45 billion and KRW 2.55 billion, respectively, to establish the JV. The amount is equivalent to 4.84% and 6.59% of each company's equity capital.

Coson will own a 49% stake, and Nexteye the rest.