Gyeonggi-do Economic Science Promotion Agency Forms Strategic Partnership with Hyundai Department Store to Expand Startup Sales Channels
The Gyeonggi-do Economic Science Promotion Agency has partnered with Hyundai Department Store to help local startups expand their sales channels.
On October 29, the agency signed a mutual growth cooperation memorandum of understanding (MOU) in writing with the Outlet and Connect Business Division of Hyundai Department Store Co., Ltd. The agreement aims to support promising startups in Gyeonggi Province by helping them develop new sales channels and validate their technologies.
This partnership was established to provide online-focused startups with stable opportunities to enter the offline market through collaboration with a large corporation possessing a distribution infrastructure, and to strengthen the competitiveness of local startups in Gyeonggi Province.
The Gyeonggi-do Economic Science Promotion Agency will identify promising startups and provide business development support, while Hyundai Department Store will use its offline stores and marketing capabilities to validate the marketability of products and expand consumer touchpoints.
The core goal is to establish a practical support system that enables startups to grow step by step.
Going forward, the two organizations will: jointly operate programs to discover and nurture outstanding startups; cooperate on online and offline promotion and marketing of startup products; jointly plan and operate mutual growth events, pop-up stores, and promotions; and identify additional collaborative projects to strengthen startup competitiveness.
Before signing the agreement, the two organizations confirmed the potential for collaboration through the pilot project "Gyeonggi Startup Mutual Growth Bridge with Hyundai Outlet."
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Kim Hyungon, President of the Gyeonggi-do Economic Science Promotion Agency, said, "This agreement is significant because it offers startups a real opportunity to meet consumers directly and validate their marketability. We will continue to expand our cooperation network with large and mid-sized companies to further increase growth opportunities for startups in Gyeonggi Province."
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