KT Alpha-Modernworks Sign MOU to Promote Brand-Based E-Commerce Business

KT Alpha and Modern Works announced on the 6th that they have signed an MOU to promote a brand-based e-commerce business. The photo is an image illustrating the mutual cooperation details. (Photo by KT Alpha)

[Asia Economy Reporter Jeon Jinyoung] KT Alpha announced on the 6th that it has signed a comprehensive business agreement (MOU) with Modern Works, the official domestic licensing and import-distribution company of a global fashion brand, to promote a brand-based e-commerce business.

This follows the strategic business partnership pursued last August to issue a Korean non-fungible token (NFT) membership for the American golf wear brand Malbon Golf, aiming to advance a brand-centered e-commerce business.

Under this business agreement, both companies plan to cooperate mutually from a long-term perspective to develop and nurture brands, establishing a close cooperative system not only in brand product planning and composition but also in production and distribution. The goal is to build a distribution platform centered on licensing and imported brands based on this foundation.

In the future, they plan to discover various fashion and lifestyle content intellectual properties (IP) and create value and secure competitive advantages within the e-commerce market based on these.

Jung Kiho, CEO of KT Alpha, said, “We aim to expand into a professional and diverse e-commerce platform by combining KT Alpha’s distribution expertise with the numerous fashion brand licenses held by Modern Works,” adding, “Starting with Malbon Golf, we will also integrate NFT membership services to enhance customer experience.”