The trio, who were laid off from a foreign trade clothing corporation that went bankrupt earlier this year due to the COVID-19 pandemic, now choose to sell clothes through their own livestreaming platforms.
The two companies said on Monday they will create a joint working group to prepare a proposal for their respective boards but did not give a specific schedule.
olume of the sharing economy more than doubled year on year to about 3.5 trillion yuan (6 billion) last year, according to a report released by the State Information Center.
The transaction is subject to regulatory approval and is expected to complete at the end of September.
The two men's step-down represents the latest departure of top executives from Facebook. Earlier this year, WhatsApp co-founder Jan Koum left the world's largest social media network over disagreements about user privacy and data-sharing controversy plaguing Facebook.
The two sides evaluated bilateral communication and consultation on the peninsula issues at each level, agreeing to continue close cooperation down the road, the Seoul ministry added.
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The two parties believe the extension will facilitate bilateral trade and investment to help economic development in the two countries.
The two will help OY Motion to expand in local markets and they are responsible for sales and after-sales service.
The train service is scheduled to run once a week initially, and the frequency is expected to rise in the future.
The two sides should strengthen coordination and cooperation in multilateral mechanisms such as the United Nations, East Asian cooperation and the Lancang-Mekong cooperation, and effectively safeguard the common interests of both countries, he said.