Live Commerce 'Grip' Signs Business Agreement with Shinhan Card... "Expanding Marketing and Partnerships"

Kim Jung-bae, Head of Partnership Division at Shinhan Card (left), and Kim Hanna, CEO of Grip Company, are holding the agreement and posing for a commemorative photo.
[Photo by Grip Company]

[Asia Economy Reporter Kim Bo-kyung] Grip Company, which operates a live commerce platform, and Shinhan Card signed a strategic business agreement on the 27th to promote joint marketing. The signing ceremony took place at Shinhan Card headquarters with the attendance of Kim Hanna, CEO of Grip Company, Kim Jung-bae, Head of Partnerships at Shinhan Card, and other officials.

Through this agreement, both companies agreed to ▲promote marketing through data utilization ▲cooperate and partner in affiliated business projects ▲conduct joint marketing to increase transaction volume for both parties.

Additionally, in the mid to long term, they plan to diversify collaboration models through the convergence of the live commerce market and the digital finance market, expanding to borderless hyper-connected partnerships.

Grip Company, which has been conducting marketing with Shinhan Card since July, has shown visible collaboration results such as a significant increase in transaction volume and subscribers after joint marketing efforts. CEO Kim stated, "We plan to continuously provide benefits that satisfy customers through collaboration utilizing the strengths of both companies."

Founded in February 2019, Grip Company operates the mobile shopping application 'Grip,' where users and sellers can communicate in real time to sell and purchase. Various brands such as Shinsegae Department Store, AK Plaza, and LG Household & Health Care have joined and are conducting live commerce. As of April, the number of sellers reached a total of 12,000, and the transaction volume last year amounted to 25.3 billion KRW.