Hyundai Department Store Supports Young 'Food Tech' Startups... Operating 'Yeongnong Market' Until the 12th

Sanitation, Marketing Consulting, and Sales Channel Support with the Korea Agricultural Technology Commercialization Foundation

[Asia Economy Reporter Jo In-kyung] Hyundai Department Store is taking active steps to nurture competitive young 'Food Tech (Food + Technology)' startups.

On the 1st, Hyundai Department Store announced that it will officially launch the 'The Growth Market Project' to support young food tech startups in collaboration with the Foundation of Agricultural Technology Commercialization and Transfer. Established in 2009 by the Rural Development Administration, the Foundation of Agricultural Technology Commercialization and Transfer applies agricultural research and development results to the field and discovers and supports startups related to agriculture and food.

The Growth Market Project is a program that provides consulting on hygiene and marketing to young food tech startups with competitive products and supports expanding sales channels through sales events and exclusive product development.

Earlier in early September, the Foundation of Agricultural Technology Commercialization and Transfer selected 15 startups out of about 360 being nurtured. Representative examples include 'Join & Join,' which makes vegan macarons using plant-based ingredients such as oats and soy milk; 'Marine Innovation,' which produces yeast jelly and eco-friendly tableware using seaweed; 'Gimhae Yukpo,' which makes pork jerky using domestic pork; and 'Reharvest,' which makes energy bars using barley leftover from malt extraction for beer brewing.

Hyundai Department Store provided these startups with professional hygiene consulting for their product manufacturing factories over about three months and supported advice on commercialization and package design. Starting from December 3rd, Hyundai Department Store will hold the 'Young Farmers Market' event sequentially at Apgujeong Main Store (December 3?9), Cheonho Store (3?9), and Mokdong Store (17?22) to support the expansion of sales channels for young food tech startups.

Hyundai Department Store plans to continuously support the expansion of sales channels for young food tech startups by facilitating entry into the department store food halls and the food specialty online mall 'Hyundai Food Hall ToHome,' as well as expanding collaboration through the production of holiday-special gift sets and joint development of exclusive products.

Shin Hyun-gu, head of Hyundai Department Store's Food Business Division, said, "Through the Growth Market Project, we are providing practical growth support programs to young food tech startups while offering distinctive products to existing food hall customers. We will continue to make various efforts to create win-win opportunities with competitive startups."

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