Martial Arts, Business Agreement for Startup Support with Malaysia Lion Group

Seeking Collaboration with Domestic Startups Possessing Solutions in Distribution and Logistics Sectors

The Korea International Trade Association and Lion Group signed a "Business Agreement for the Implementation of a Distribution Technology Testbed" on the 18th at the Trade Tower in Samseong-dong. (From the right: Jang Seok-min, Head of Digital Innovation Division at the Trade Association, Oh Hyo-dong, Head of New Business Development at Lion Group)

[Asia Economy Reporter Park Sun-mi] The Korea International Trade Association signed a business agreement with Malaysia's Lion Group on the 18th at the Trade Tower in Samseong-dong to implement a 'distribution technology testbed.'

Lion Group is a comprehensive Malaysian conglomerate with competitiveness in various fields such as steel, distribution, agriculture, and computers, operating in more than 10 countries including China, the United States, and Indonesia. Its owned Paxson Department Store has expanded to 82 stores across six Asian countries.

Based on this business agreement, Lion Group plans to collaborate with domestic startups that possess department store logistics innovation solutions and inventory management solutions. Starting as early as September, they will recruit related startups, conduct local proof of concept (PoC) tests in October and November, and review commercialization linkage based on the PoC results in December.

Jang Seok-min, head of the Digital Innovation Division at the Trade Association, said, "We hope our companies can establish a foothold for overseas expansion through cooperation with Lion Group, which has global business capabilities."

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