Home&Shopping Contributes 400 Million KRW Cooperation Fund to Expand Overseas Market for SMEs

Cooperation Foundation and Win-Win Cooperation Fund for Large, Medium, and Small Enterprises Raised... 650 Million KRW Contributed Since 2019

[Asia Economy Reporter Kim Cheol-hyun] Home&Shopping (CEO Kim Ok-chan) announced on the 8th that it will contribute a total of 400 million KRW in cooperation funds to help small and medium-sized enterprises (SMEs) develop overseas sales channels. Since 2019, Home&Shopping has been working with the Foundation for Cooperation between Large, Small Enterprises and Agriculture and Fisheries to establish a win-win cooperation fund to support domestic SMEs in expanding their overseas sales channels. Now in its third year, this project supports overseas marketing activities and sales channel development for SME partners based on Home&Shopping’s network and infrastructure.

The scale of support has been expanding every year. In 2019 and 2020, it contributed 100 million KRW and 150 million KRW respectively to support entry into overseas home shopping channels. This year, the support amount has been increased to 400 million KRW, with new plans to expand support in various ways, including ▲startup nurturing ▲support for entry into overseas online shopping malls ▲CEO education support projects for SMEs.

The overseas home shopping support project is not a one-time marketing promotion but has received positive responses as all participating products actually lead to exports. In particular, the method of Home&Shopping directly purchasing and selling exported SME products allows supplying SMEs to omit complicated procedures such as inventory, delivery, customs clearance management, and product information registration, resulting in high satisfaction. For products with excellent broadcast performance, it is possible to secure sustainable overseas sales channels. Last year, 15 SME products that were recognized for their product competitiveness in Korea through Home&Shopping, including ▲Labiotte Collagen Mask Pack ▲Mood Matcher Lipstick ▲Barun Angel Hair, were launched on Taiwan’s Momo Home Shopping, recording exports exceeding 1 billion KRW.

A Home&Shopping official said, "We expect this support project to be of some help to SMEs struggling to develop sales channels due to the recent COVID-19 situation," adding, "We will continue to carry out various win-win programs that can grow together with not only our SME partners but also the local community."

This content was produced with the assistance of AI translation services.