MFM Korea Officially Enters Lifestyle Platform Business Through GF&L

[Asia Economy Reporter Hyunseok Yoo] MFM Korea announced on the 22nd that it will actively enter the platform business through GF&L, a joint venture established with SBS Media Holdings.

GF&L, established last year, is currently owned 70% by SBS Neopartners, an investment company under SBS Media Holdings, and 30% by MFM Korea. It launched Korea's first fashion self-production platform and marketplace, 'Seoul So chic,' and collaborates with over 40 influencers and brands, including Linkshops, the largest purchasing platform in Dongdaemun.

Recently, GF&L conducted a fashion pictorial under the concept 'Classic, My Way' in collaboration with the fashion magazine Cosmopolitan. Featured in the November issue of Cosmopolitan, the pictorial included five influencers collaborating with GF&L?BP, Naneunkkot, Vivamoon, Song Studio, and Assemblage?introducing classic style items from the 2020 FW trend produced through the 'Seoul So chic' platform.

GF&L plans to expand its platform business, which combines Korean Wave entertainment and lifestyle, across the Americas and Asia.

Song Jaeyeol, CEO of GF&L, stated, "Many talented domestic influencer-brands want to advance into the global market by utilizing SBS's multimedia and marketing capabilities and MFM Korea's global network and fashion solution infrastructure through the 'Seoul So chic' platform," adding, "'Seoul So chic' will be a platform connecting K-LIFESTYLE with the global market."

Meanwhile, MFM Korea is preparing for a SPAC merger with Shinhan No.5 SPAC. Additionally, part of the funds secured after listing will be used to invest in GF&L's business to secure growth momentum such as sales diversification.