On the 18th, the Seoul Business Agency (SBA) announced that it signed a memorandum of understanding with China's largest e-commerce platform, Taobao, to support the global expansion of Seoul's fashion and beauty brands.
The memorandum signing ceremony held at the Dongdaemun Design Plaza (DDP) showroom on the 18th was attended by Kim Hyun-woo, SBA representative, and Mandy Wang, the global head of Taobao under Alibaba, along with key officials from both organizations.
Through this collaboration, the SBA and Taobao plan to facilitate the global expansion of excellent fashion products from Seoul, including products from Dongdaemun fashion wholesale brands, via Taobao live commerce on the second floor of the DDP showroom. The SBA is a policy execution agency that supports the growth of small and medium enterprises and startups in Seoul and also operates the DDP showroom.
The B2B space of the DDP showroom features a sample store displaying new products from wholesale brands linked to the Dongdaemun fashion district. In the sample store, visitors can see high-quality clothing samples from Dongdaemun. Various concept studios are available for content creation, attracting numerous fashion sellers and creators.
The SBA will conduct live commerce through the Taobao platform, used by approximately 900 million Chinese consumers, in the DDP showroom in the future. More than 30 famous Chinese influencers, known as 'wanghong,' will also participate in the live commerce. Taobao is expected to provide advertising support worth up to 60 billion won annually.
Kim Hyun-woo, SBA representative, said, "As the DDP showroom showcases the excellence of K-fashion, I expect this collaboration with Taobao, which leads the global live commerce market, will yield visible results for Seoul's fashion and beauty products in overseas markets."