Globon Terminates Supply Contract Worth 19.5 Billion KRW

[Asia Economy Reporter Eunmo Koo] Glovon announced on the 23rd that it has terminated a supply contract worth 19,491,580,000 KRW for cosmetics and other goods with Meider (Shanghai) Trading Co., Ltd. (O-ROSA INTERNATIONAL) in China. The company explained, "The contract was terminated prematurely due to the counterparty's failure to fulfill ordering obligations under the contract and the notice of contract termination."