Korea SMEs and Startups Agency and CJ CheilJedang Join Forces to Expand Market Access for SMEs in Yeongdong, Gangwon

Local SMEs to Enter CJ The Market

The Korea SMEs and Startups Agency has joined forces with CJ CheilJedang to support online market expansion for small and medium-sized enterprises (SMEs) in the Yeongdong region of Gangwon Province.

(From left) Ilho Kim, Director of Corporate Finance at the Small and Medium Business Corporation, and Seungyun Lee, Head of Fast Sourcing Purchasing Team at CJ CheilJedang, are taking a commemorative photo after signing a business agreement at the Gangneung Science and Industry Promotion Agency in Gangneung, Gangwon Province. Small and Medium Business Corporation

On August 13, the Korea SMEs and Startups Agency announced that it had signed a "business agreement to support market access for outstanding SMEs in the Yeongdong region of Gangwon Province" with CJ CheilJedang at the Gangneung Science Industry Promotion Agency in Gangneung, Gangwon Province.

This agreement was established to expand market channels and promote product sales for regional SMEs by connecting the Korea SMEs and Startups Agency’s capabilities for discovering and supporting outstanding local companies with CJ CheilJedang’s distribution and marketing channels.

Under the agreement, the two organizations will cooperate on: ▲ discovering promising local companies and providing customized market channel connections for each company, such as entry into CJ The Market and participation in special exhibitions; ▲ activating sales of regionally specialized products through live commerce and joint marketing for seasonal and themed events; ▲ analyzing sales performance and linking policy support for outstanding companies.

The Korea SMEs and Startups Agency identified and recommended promising SMEs in the Yeongdong region of Gangwon Province from among its existing supported companies to CJ CheilJedang. As a result, Jeongnammi Group Agricultural Corporation, Donggwang Food, Sanghwa F&B, and Chamjoeun Food—four companies in total—participated in the CJ The Market Gangwon Special Exhibition. On this day, these companies also signed contracts with CJ CheilJedang to enter CJ The Market.

Since the end of last month, the Korea SMEs and Startups Agency and CJ CheilJedang have been conducting joint marketing activities utilizing CJ The Market. Starting August 4, a Gangwon Province special exhibition has been taking place on CJ The Market.

Going forward, the Korea SMEs and Startups Agency will continue to discover and recommend additional outstanding local SMEs for the special exhibition, while CJ CheilJedang plans to introduce and sell regional products to consumers through its official online mall, CJ The Market.

Seungyun Lee, Head of the Fast Sourcing Purchasing Team at CJ CheilJedang, stated, "We expect that excellent products from the Yeongdong region of Gangwon Province will gain even greater market competitiveness by leveraging CJ CheilJedang's platform capabilities," adding, "Through CJ The Market’s regional themed special exhibitions, we aim to build a mutually beneficial ecosystem where outstanding local products are continuously connected with consumers."

Ilho Kim, Executive Director of Corporate Finance at the Korea SMEs and Startups Agency, said, "We will support regional SMEs with excellent products but limited distribution networks so they can enter new markets by leveraging the distribution and marketing infrastructure of large corporations. In addition to market access support, we will connect a variety of policy tools, including policy funds, to help participating companies achieve sustainable growth."

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