Musinsa Signs Business Agreement with SBA to Discover and Support Small and Medium Beauty Brands

(From left) Seungje Lee, Head of Brand Business Team at Seoul Business Agency, Yongsang Kim, Business Director, Hongcheol Kwak, Head of Strategy Office at Musinsa, and Seongchan Yang, Beauty Category Owner, are posing for a commemorative photo after signing a business agreement.

[Asia Economy Reporter Eunmo Koo] Musinsa announced on the 2nd that it has signed a Memorandum of Understanding (MOU) with the Seoul Business Agency (SBA) to discover and support small and medium-sized beauty brands. Starting with this agreement, both parties plan to focus on discovering and nurturing small and medium-sized beauty brands through the ‘Seoul Beauty Enterprise Discovery and Support Project.’

The Seoul Beauty Enterprise Discovery and Support Project, jointly conducted by Musinsa and the Seoul Business Agency, focuses on selecting about 100 small and medium-sized beauty brands based in Seoul and supporting their branding and marketing activities. Applications for participating brands will be accepted from the 3rd to the 30th, and selected brands will be given opportunities to be featured in the Musinsa Store and participate in special exhibitions. Additionally, various marketing activities such as content creation to promote the brands and advertising exposure will also be supported.

Sangchan Yang, the owner of the Musinsa Beauty category, stated, “Musinsa has grown together with brands by sharing the philosophy of ‘co-growth with brands’ and delivering the value of brands to more customers.” He added, “We hope that this MOU will create a foundation for small and medium-sized beauty brands based in Seoul to grow more healthily.”

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