GS Shop Signs Strategic MOU with Manyeongongjang... Exclusive Launch of New Product
Agreement on Joint Planning and Development of Planned Products
GS Shop announced on the 11th that it has signed a strategic business agreement (MOU) with cosmetics company Manyeogongjang.
Through this agreement, both companies will exclusively launch Manyeogongjang's new products on GS Shop and conduct joint marketing. They also agreed to jointly plan and develop new products in the second half of the year. The first outcome will be the exclusive launch broadcast of Manyeogongjang's new product 'Galactomy Melacore Essence' on the afternoon of the 16th. Galactomy Melacore Essence is the first premium line of the functional skincare 'Galact Essence,' which has been a bestseller for Manyeogongjang.
![Joo Un-seok, Head of GS Shop MD Headquarters (left), and Yoo Geun-jik, CEO of Manyeogongjang, are taking a commemorative photo after signing the 'GS Shop X Manyeogongjang Business Agreement' on the 8th at GS Gangseo N Tower in Yeongdeungpo-gu. <br>[Photo by GS Retail]](http://www.asiae.co.kr/news/img_view.htm?img=2024031108321789925_1710113536.jpg)
Joo Un-seok, Head of GS Shop MD Headquarters (left), and Yoo Geun-jik, CEO of Manyeogongjang, are taking a commemorative photo after signing the 'GS Shop X Manyeogongjang Business Agreement' on the 8th at GS Gangseo N Tower in Yeongdeungpo-gu.
[Photo by GS Retail]
Both companies are also planning to develop jointly planned products and conduct special promotions in the second half of this year. Additionally, based on customer purchase data and product development know-how accumulated by both companies, they will promote the development of customized products and propose differentiated skincare solutions.
Jeon Cheol-min, Head of GS Shop H&B Business Division, said, "To strengthen our beauty business competitiveness throughout this year, we have selected Manyeogongjang as a strategic partner and will focus on sourcing differentiated products." He added, "Starting from this MOU, both companies plan to explore various collaboration methods and enhance customer satisfaction."
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Meanwhile, the signing ceremony held on the 8th at GS Gangseo N Tower in Yeongdeungpo-gu, Seoul, was attended by key officials including Joo Un-seok, Head of GS Shop MD Headquarters, Jeon Cheol-min, Head of GS Shop H&B Business Division, and Yoo Geun-jik, CEO of Manyeogongjang.
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