Woongjin Group to Launch 'Kids Store'... Raises 20 Billion Won

Discovery of Play New Business

[Asia Economy Reporter Kim Daeseop] Woongjin Group announced on the 10th that Noriui Balgyeon, a spin-off from its affiliate Woongjin ThinkBig, will launch new businesses such as the 'Kids Store.'

The new business is planned to include the Kids Store and live classes. It will be launched by Noriui Balgyeon, which spun off from Woongjin ThinkBig in May. At the Kids Store, children's play items and hobby supplies can be conveniently purchased through an application. The live class is a 'play lesson live broadcast' designed for playing with children at home.

Woongjin Group plans to create synergy by linking the Kids Store and live classes. They also plan to consider mergers and acquisitions (M&A) of startups related to the kids market. An 'Online Baby and Kids Fair,' featuring participation from about 300 brands and offering 2,000 products at the lowest prices, is also being prepared.

Noriui Balgyeon operates a platform service that connects various play, experiential learning, and creative activity programs nationwide, as well as exhibitions, kids cafes, and theme parks. It has 500,000 members and a cumulative transaction amount of 11 billion KRW. It also attracted an investment of 20 billion KRW from Woori-Q Corporate Financial Stability Private Equity Partnership. According to the company, it was recognized with a corporate value of 60 billion KRW after investment attraction just 1 year and 5 months after launching the business.

Yoon Saebom, CEO of Noriui Balgyeon, said, "Through this investment attraction, we plan to promote various new businesses and startup mergers and acquisitions that can create synergy, and we will make the company a representative enterprise in the kids market."