CTK Partners with IBK Industrial Bank to Support Innovative Startups
Cosmetics platform company CTK announced on the 29th that it has signed a business agreement with IBK Industrial Bank of Korea to support startups selected as IBK Changgong innovative startups through "business cooperation based on innovative technology."
IBK Changgong is a startup incubation program planned by IBK Industrial Bank of Korea to nurture startups with innovative technologies in various fields such as information and communication, knowledge services, and eco-friendly sectors. Startups selected as IBK Changgong innovative startups receive customized programs for each company after expert preliminary diagnostic evaluations.
CTK and IBK Industrial Bank of Korea signed the business agreement to provide business partnership opportunities as well as investment review opportunities to IBK Changgong innovative startups. To offer business partnership opportunities, CTK and IBK Industrial Bank collected business partnership ideas that could create synergy with CTK’s business until last month. More than 30 IBK Changgong innovative startups submitted proposals, and 10 companies were initially selected.
On the 28th, representatives from the 10 companies met with business experts at CTK headquarters and introduced various business partnership plans ranging from 3D modeling and customized package production using AI to customized cosmetics planning through consumer big data analysis, and robot system proposals for fast and accurate logistics services.
Based on the business partnership plans, CTK will select the final business cooperation target companies and proceed with actual business cooperation. Selected companies will receive various benefits such as commercialization support funds, promotional support, investment review opportunities, and infrastructure provision for collaboration from IBK Industrial Bank and CTK.
Jin-Yong Jeong, CEO of CTK, said, "We were able to receive innovative business partnership proposals utilizing innovative technologies from startups," adding, "It seems to be an opportunity to meet future partner companies with innovative technologies that can further advance the digital B2B beauty platform CTK Clip." He continued, "In line with CTK’s management philosophy of co-growth with partners and the industry, we will continue to generously support startups with innovative technologies and ideas so that we can grow together."
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CTK introduced CTK Clip, a B2B beauty platform that provides all services related to beauty, from branding to product development, production, and logistics, with an interest in digital transformation. The platform continues to evolve by quickly and diversely posting new product information and adding linked services such as branding services (OBM) in cooperation with subsidiaries and external partners, global logistics services, and AI-based global regulatory review systems.
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