Lotte Construction Partners with Seoul Business Agency to Discover Outstanding Startup Companies

On the 14th, Lotte Construction announced on the 15th that it signed a 'Memorandum of Understanding (MOU) for Discovering and Nurturing Excellent Startup Companies' with the Seoul Business Agency at its headquarters in Jamwon-dong, Seocho-gu, Seoul.

The signing ceremony was held with key officials including Ju Young-su, Head of Strategic Planning Division at Lotte Construction, and Kim Jong-woo, Head of the Startup Division at the Seoul Business Agency.

The Seoul Business Agency is a pivotal institution contributing to the creation of good jobs and the growth of small and medium-sized enterprises, promoting startup support programs and industrial revitalization programs.

Juyeongsoo Joo, Head of Strategic Planning Division at Lotte Construction (fifth from the left), and Jongwoo Kim, Head of Startup Division at Seoul Business Agency (fourth from the left), along with key stakeholders, are posing for a commemorative photo after signing a business agreement.

Through this agreement, the two parties plan to establish a cooperative system to jointly operate an accelerating (nurturing) program and support startup growth. In the first half of this year, they will recruit startups related to ESG and smart technologies, such as ideas for reducing carbon emissions at construction sites and in-house eco-friendly practice items, and select promising startups to review technological cooperation.

A Lotte Construction official stated, "We plan to discover startups that can create synergy by collaborating with the Seoul Business Agency, which has long created social value through supporting startups," adding, "We will continue to support the growth of startups with high growth potential and practice win-win management."

Meanwhile, in September last year, Lotte Construction recruited excellent startups through the 'B.Startup Open Innovation Challenge' with the Busan Creative Economy Innovation Center, selecting a total of eight companies. They had direct sessions with relevant department officials to propose business and services and engage in Q&A. Notably, among the startups selected through this program, 'Teamwork' is piloting the smart drawing solution program 'Team View' at construction sites to improve the efficiency and digitalization of drawing management.

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