Seoul Business Agency (SBA), a Seoul city agency supporting small and medium-sized enterprises, said on the 6th that it signed a memorandum of understanding (MOU) with CJ OnStyle, operated by the CJ ENM(035760) commerce institutional sector, to support overseas expansion by small and medium-sized lifestyle and consumer-culture companies based in Seoul.
The agreement was pursued to combine SBA's corporate support infrastructure and network with CJ OnStyle's capabilities in content production, commerce operations and marketing, to discover and nurture corporations with strong growth potential and help them open overseas sales channels.
Building on the agreement, the two sides plan to jointly identify corporations with global competitiveness and link SBA's distribution and marketing support programs with CJ OnStyle's commerce platform. They will also cooperate to support market entry by leveraging overseas exhibitions and trade shows and both sides' global networks.
They will also promote online and offline marketing and live commerce in connection with the global influencer event "SEOULCon." The plan is to combine content with small and medium-sized enterprise products to raise awareness and then create a structure that connects it to sales performance through CJ OnStyle's distribution platform.
Kim Hyeon-u, CEO of SBA, said, "Through cooperation with CJ OnStyle, which has strong competitiveness in content commerce, opportunities will expand for promising small and medium-sized companies in Seoul to take the leap onto the global stage," adding, "We will support domestic corporations so they can grow into brands loved in the global market."
A CJ OnStyle official also noted, "We will focus the capabilities of CJ OnStyle's platform to ensure this agreement can become a successful model of shared growth for small and medium-sized enterprises."