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

Gyeonggi Province held a business briefing session on the 13th at the Gyeonggi Institute of Science and Technology Promotion Coworking Space for 20 companies selected for the 'Public-Private Partnership (Lotte Department Store) Market Expansion Support Project.'

This project, being implemented as part of the 'Large-Medium-Small Business Collaboration Program Support Project,' was designed to link the specialized expertise and distribution infrastructure owned by large corporations with small and medium enterprises in the province to improve products and brands and provide real opportunities for market expansion. Gyeonggi Province and the Institute 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 Institute of Science and Technology Promotion and Lotte Department Store explained the project implementation procedures, subsidy applications, and settlement procedures along with detailed support details and future implementation schedules, answering questions from participating companies.

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

Subsequently, support will be provided to confirm actual consumer response and market viability by connecting popup stores at Lotte Department Store locations in Gyeonggi Province and store placement on Lotte Department Store's online mall and planned exhibitions. Outstanding participating companies will additionally be provided with opportunities for 'L-LAB' linked consulting from Lotte Department Store and store placement at 'Dream Plaza,' a specialized distribution support store for small and medium enterprises.

Seo Bong-ja, Director of Fair Economy 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 expertise and distribution networks of large corporations." He added, "Going forward, we will continue to expand market expansion support and large-medium-small business collaboration models that companies can feel tangible benefits from."