Lotte Home Shopping Signs Business Agreement with Beyond Boundary... "Content Business Expansion into China"

On the 24th, at the Lotte Homeshopping headquarters in Yeongdeungpo-gu, Seoul, Lee Bohyun, Head of Media Business Division at Lotte Homeshopping (left), and Park Jaehee, CEO of Beyond Boundary, are taking a commemorative photo.

[Asia Economy Reporter Lim Chun-han] Lotte Homeshopping announced on the 25th that it has signed a business agreement with Beyond Boundary, a China-specialized content startup, to enter the Chinese market with content businesses such as character intellectual property (IP).

The main points include ▲ planning and consulting for Lotte Homeshopping content and character business ▲ establishing localization strategies for entering the Chinese market ▲ jointly conducting local marketing using Chinese social networking service (SNS) platforms, and they agreed to mutually cooperate for successful overseas expansion in the future.

Lotte Homeshopping established a media business division this year and is accelerating new business promotion through in-house content development and commercialization. This agreement is part of a strategy to strengthen the global competitiveness of in-house content such as character IP and videos. They plan to design in-house content tailored to the Chinese market situation and showcase it through local SNS channels and live commerce platforms such as Douyin and Xiaohongshu. Going forward, they plan to continuously develop content using character IP and expand their content business into China through unique projects such as influencer lifestyle content and art and culture non-fungible token (NFT) product development.

Beyond Boundary is a China-specialized content startup that helps famous domestic creators enter China and discovers competitive content to help generate revenue through local platforms. It has about 20 million local subscribers and more than 30 Chinese content experts are active.

Lee Bo-hyun, head of Lotte Homeshopping’s media business division, said, “As part of new business promotion for media commerce advancement, we are planning competitive content such as in-house characters and art and culture, and we aim to expand beyond Korea into China. Through cooperation with Beyond Boundary, which provides global content distribution services in the Chinese market, we plan to continuously develop cultural content including characters, videos, and artworks and showcase them locally in China.”