Procter & Gamble and STC Corp. announced...

Procter & Gamble and STC Corp. announced that they will form a joint venture for doing business in South Korea. The new company will be named Procter & Gamble-STC Inc., and the joint venture is subject to approval by the South Korean government. Specific terms of the agreement are not being disclosed. STC, a leading packaging material manufacturer in South Korea, has headquarters in Seoul. The joint venture will involve Cincinnati-based Procter & Gamble’s general category of personal care, laundry and cleaning, paper and health-care products.