K-Beauty Showcase: Shinsegae Department Store Supports Korean SMEs Entering Vietnam

Shinsegae Department Store has begun supporting the export of domestic K-beauty small and medium-sized enterprises (SMEs) to Vietnam.

According to Shinsegae Department Store on April 24, the company held the Shinsegae Hyperground showcase, introducing K-beauty brands at the Korea-Vietnam Business Partnership event held in Hanoi the previous day. Shinsegae Hyperground is a platform operated by Shinsegae Department Store to support the overseas expansion of competitive K-fashion and K-beauty partner brands.

Juhyung Park, CEO of Shinsegae Department Store (right), is listening to a product explanation from a brand manager at the Shinsegae Hyperground Vietnam showcase. Provided by Shinsegae Department Store

원본보기 아이콘

The Korea-Vietnam Business Partnership event was co-hosted locally in Hanoi by the Ministry of Trade, Industry and Energy and KOTRA. As a leading domestic retail company, Shinsegae Department Store held a separate showcase for K-beauty partner companies hoping to enter the Vietnamese market.

A total of eight K-beauty brands, all selected for their local competitiveness such as functionalities suited to the local climate and appeal to local customers, were featured at the Hanoi Shinsegae Hyperground showcase.

At the event, Shinsegae Hyperground also held discussions with local businesspeople in attendance, as well as K-brand representatives, about future expansion into Vietnam and potential joint product planning. W Concept, Shinsegae Group's online fashion platform, also held a joint showcase at the venue on the same day.

Minister of Trade, Industry and Energy Kim Jungkwan and KOTRA President Kang Kyungsung visited the event, toured the venue with Juhyung Park, CEO of Shinsegae Department Store, and encouraged the efforts of K-brands to enter the Vietnamese market.

CEO Park stated, "Shinsegae Hyperground, which has supported the overseas expansion of domestic brands with global competitiveness, held its first showcase in Vietnam to promote the growth of K-brands. This year, Shinsegae will spare no effort, together with government support, to help competitive, SME-centered K-brands expand into global markets such as the United States, Taiwan, and Japan."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.