Jindo Corp., South Korea’s biggest fur coat...
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Jindo Corp., South Korea’s biggest fur coat producer, is going into partnership with a Soviet company to open a string of stores in the communist country.
It would be the first business tie between the Soviet Union and Western-leaning South Korea. The two nations have no diplomatic relations.
Jindo officials said their company, which produces 400,000 fur garments a year, signed a contract last week in Moscow with Interlink of the Soviet Union to establish an equally owned joint venture firm with initial capital investment of $800,000.
Their first goal is to open a store in Moscow. Jindo said it wants to open 10 more joint venture stores in the Soviet Union in the next two years.
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