Hyundai Department Store Group Partners with Hanyang University and Seongdong-gu to Support Startups

[Asia Economy Reporter Lim Chun-han] Hyundai Department Store Group announced on the 6th that it will operate the ‘Business Portfolio Scale-up’ program in collaboration with Hanyang University and Seongdong-gu, Seoul.

This program targets startups that have entered the growth phase between 3 and 7 years after founding, supporting the full commercialization and scale-up (high growth) of their business models.

Seven affiliates including Hyundai Department Store, Hyundai Home Shopping, Hyundai Green Food, Handsome, Hyundai Livart, Hyundai Bioland, and Hyundai Dream Tour will participate, providing expert mentoring and advice on technology and business feasibility to startups with high business relevance to the group’s affiliates until the 31st. Hyundai Department Store Group plans to discuss specific cooperation measures such as joint product development and solution integration with each startup, and will consider direct business linkage and strategic investment (SI) in the future.

Jeon Sang-kyung, head of the Hanyang University Startup Support Group, said, “The Business Portfolio Scale-up program offers growth-phase companies opportunities to collaborate with large corporations and provides network support through expert consulting in various fields, which will be of practical help to these companies. We will actively support growth-phase companies to scale up through cooperative relationships with large corporations.”

A Hyundai Department Store Group official said, “We hope this program will help competitive startups scale up while revitalizing the startup ecosystem. We will continue to discover startups that can create synergy with our group affiliates and grow together.”

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