Koh Brothers forays into beauty market with South Korea's Koracle

KOH Brothers Group on Monday announced that its subsidiary, K-Skin, has entered into a memorandum of understanding (MOU) with Koracle to form a joint venture for the purpose of setting up beauty clinics and wellness spas in Singapore and Johor, Malaysia.

Koracle is the owner of the "Oracle" trademark, a South Korean brand for dermatology, plastic surgery, hair and aesthetic treatments.

The new clinics and spas to be opened in Singapore and Johor will provide beauty consultation and treatment to meet the specialised needs of customers.

Koh Brothers, a mainboard-listed construction and property company, said that the MOU is not expected to have a material impact on the financials of the company for the financial year ending Dec 31, 2017.