Incheon Free Economic Zone Authority Achieves Success in Supporting Startup Global Expansion with Incheon TP and POSCO International

Our Children Plus, awarded at the 'Cosmetic 360 Paris Cosmetics Industry Fair.' The third from the left is CEO Kim Hoisuk. [Provided by Incheon Free Economic Zone Authority]

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone Authority announced on the 22nd that a program supporting startups' entry into the global market, in collaboration with Incheon Technopark (Incheon TP) and POSCO International, is showing positive results.

These organizations signed a memorandum of understanding (MOU) for discovering and nurturing startups last April and selected six companies aspiring to enter the global market, providing support such as project funding, overseas market development activities, and export consultations.

Beauty tech startup Woori Aideul Plus, which participated in this program, took part in the 'Cosmetic 360' cosmetics industry fair held last month in Paris, France, and won an award in the packaging category.

Woori Aideul Plus was recognized for the innovation of its proprietary water-soluble packaging technology that disappears within 5 seconds without leaving any contamination residue, becoming the first Asian company among 220 companies from 16 countries worldwide to receive this award.

Since launching its eco-friendly cosmetic brand in May, the company has entered 80 offline stores including Japan's LOFT and PLZA, rapidly growing in global markets such as the United States and Europe.

T&GLab, a manufacturer of plant growth systems applying the Internet of Things (IoT), was selected as an exhibitor for the 'Dubai International Building Materials Exhibition (BIG 5 SHOW)' and also secured an agreement to install its products at POSCO International's Dubai branch.

Additionally, pet-related startup Ujura Company plans to establish a local corporation in the United States and pursue investment attraction worth approximately 10 billion KRW.

An official from the Incheon Free Economic Zone Authority stated, "POSCO International's global sales network and support through local corporations are greatly helping startups' global expansion," adding, "We will continue to actively support startups' entry into the global market."

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