Hyundai Department Store Group Offers Pro Bono Support for Promising Rural Startups

Hyundai GF Holdings, the holding company of Hyundai Department Store Group, announced on April 29 that it will provide pro bono support to companies participating in the 'Rural Startup Contest' organized by the Ministry of Agriculture, Food and Rural Affairs to discover promising startups in rural areas.

Hyundai Department Store Group Headquarters Building. Courtesy of Hyundai Department Store Group

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The Rural Startup Contest is an event hosted by the Ministry of Agriculture, Food and Rural Affairs to select outstanding startups that utilize a wide range of tangible and intangible resources in rural areas. The contest aims to support the growth of these companies and foster an environment that encourages rural entrepreneurship.

Hyundai Department Store Group plans to go beyond merely providing financial support at this contest. The group aims to facilitate a virtuous cycle by supporting the continued growth of rural startups, sharing its expertise in product commercialization and distribution, and ultimately contributing to the revitalization of local economies.

For the 15 teams selected as outstanding startups in this contest, Hyundai Department Store’s merchandising (MD) and marketing experts will offer pro bono mentoring and workshops, as well as support for prototype development. In addition, for outstanding products, the group is considering providing sales channels by utilizing Hyundai Department Store Group’s online and offline distribution networks, such as operating pop-up stores or onboarding to online malls.

A representative from Hyundai GF Holdings stated, "We will continue to expand our win-win partnership model centered on the group’s social value brand ‘We Dream’."

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