[Asia Economy Reporter Lim Chunhan] Hyundai Department Store Duty Free announced on the 13th that it will open H Harmony, a K-Beauty startup specialty section, on its online duty-free store. H Harmony signifies the harmony and mutual growth between Hyundai Department Store Duty Free and domestic small and medium-sized enterprises.
H Harmony will feature a total of 20 brands, including Azera Biotech, a cosmeceutical (functional cosmetics with medicinal ingredients) brand, Miqrit, an eco-friendly color cosmetics brand, and Akkoje, a Jeju cosmetics brand.
This opening is part of the 'MOU for Establishing a K-Beauty Startup Discovery and Nurturing Platform' signed last August with 10 institutions including the Incheon Creative Economy Innovation Center, Catholic Kwandong University, investors, and marketing specialists. Hyundai Department Store Duty Free plans to discover more than 10 additional K-Beauty startup brands by the second half of this year and support overseas promotion through live commerce on Chinese platforms for the brands in the store. In the future, it will also consider selecting outstanding brands for offline store entry.
To commemorate the opening of H Harmony, Hyundai Department Store Duty Free will hold a promotion from the 20th to the 30th, offering up to 40% discounts on K-Beauty startup brand products compared to regular prices.
A Hyundai Department Store Duty Free official stated, “We plan to expand support for sales channels not only for K-Beauty startups but also for emerging K-Fashion brands.”
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