Korea Federation of SMEs Supports Outstanding SMEs’ Entry into Department Stores and Marts

Applications Open for 'Integrated Online and Offline Evaluation Fair' in the Second Half of the Year

The Korea Federation of SMEs announced on the 12th that it is accepting applications for participation in the evaluation fair to select companies for online and offline retail channel entry.

This evaluation fair will see participation from 13 major retail channels, including the five leading department stores—Galleria, Lotte, Shinsegae, Hyundai, and AK—as well as Lotte Mart, E-Mart, Lotte Shopping e-Commerce, Woowa Brothers, Korea Post Shopping, Gmarket, Coupang, and Home&Shopping. Eligible participants are small and medium-sized consumer goods manufacturers located in Korea, and all product categories are eligible except large household appliances and furniture.

Korea Federation of Small and Medium Business

SMEs that pass the document screening will have an opportunity to participate in win-win cooperation programs, such as retail channel entry, through in-person evaluations with specialized MDs (merchandise directors) by category at the evaluation fair. SMEs that gain entry into retail channels through the fair will be provided benefits negotiated with retailers, such as preferential commission rates and exclusive SME sales spaces. Applications can be submitted from the 13th through September 9, and the main evaluation fair will be held on October 27 at the KBIZ Hall of the Korea Federation of SMEs.

Since beginning with a Lotte Department Store entry consultation session in 2013, the Korea Federation of SMEs has expanded its evaluation fairs to now support SME market entry by collaborating with both online and offline major retailers. Hwang Youngman, policy chief for small business at the Korea Federation of SMEs, commented, "This evaluation fair will allow specialized MDs from leading retailers to directly discover outstanding products from SMEs and small business owners and connect them to tangible entry opportunities," adding, "We will continue to pursue various win-win initiatives with large retailers so that competitive SMEs and small businesses can gain broader market recognition."

This content was produced with the assistance of AI translation services.