Tonymoly gives up acquisition of Tai Guk Pharm, largest dermatologic product company

Tonymoly, a cosmetic brand, gave an official notice to acquire Tai Guk Pharm(decided to acquire 5.826 million shares, KRW 14 billion), the Korea’s largest pharmaceutical company specializing in dermatologic products, as a method to diversify its business on 1 August, but decided to give up the acquisition(deal ended on the 30^th of September).

Tonymoly was planning to invest total KRW 26 billio...