Gyeonggi Province Supports Small and Medium Enterprises in Market Development with Lotte Department Store

Gyeonggi Province held a business briefing session on the 13th at the Gyeonggi Province Economic Science and Technology Promotion Agency's coworking space for 20 selected companies participating in the 'Public-Private Partnership (Lotte Department Store) Market Development Support Project.'

This project, implemented as part of the 'Large-Medium-Small Enterprise Mutual Growth Cooperation Program Support Project,' was designed to connect the specialized expertise and distribution infrastructure of large corporations with small and medium enterprises in the province to improve products and brands and provide practical market development opportunities. The province and the promotion agency recruited participating companies last month and selected 20 promising small and medium enterprises in the beauty, food, fashion accessories, and lifestyle sectors.

At the briefing session, the Gyeonggi Province Economic Science and Technology Promotion Agency and Lotte Department Store provided guidance on business implementation procedures, support fund applications, and settlement procedures, as well as detailed support details and future implementation schedules, and answered questions from participating companies.

Selected companies will receive support to improve packaging and design based on consulting from current merchandise planners (MDs) at Lotte Department Store. Additionally, on September 22nd, at the Gyeonggi Province Win-Win Growth Fair, participating companies will have the opportunity to meet directly with merchandise planners (MDs) from multiple large distribution companies including Lotte Department Store to showcase their products and consult on store placement possibilities.

Subsequently, support will be provided to connect with popup stores at Lotte Department Store locations in Gyeonggi Province, as well as online mall and planned sales events, enabling companies to verify actual consumer response and market viability. Outstanding participating companies will also be provided with additional opportunities for 'L-LAB' linked consulting from Lotte Department Store and store placement at 'Dream Plaza,' a specialized retail outlet for small and medium enterprise market support.

Seo Bong-ja, Director of the Fair Economy Division at Gyeonggi Province, stated, "The core of this project is to help small and medium enterprises in the province that possess excellent products but face difficulties entering large distribution channels to actually enter the market by utilizing the specialized personnel and distribution networks of large corporations. We will continue to expand market development support that companies can feel and mutual growth cooperation models among large, medium, and small enterprises."