Investment of 1.7 Billion KRW in Jeojang Color Ray Technology Development and Deoching Color Ray Import and Export

[Asia Economy Reporter Seongpil Cho] Coloray, a KOSDAQ-listed company, announced on the 27th that its subsidiary, Zhejiang Coloray Technology Development, will invest approximately 1.7 billion KRW in its trading subsidiary, Deqing Coloray Import & Export, which deals in cosmetics and other products.

After the investment, Zhejiang Coloray Technology Development will hold 100% of the shares in Deqing Coloray Import & Export.

Coloray stated that the purpose of this measure is to "strengthen competitiveness through entry into new business areas."