Korea Federation of SMEs Holds 'Second Half Online and Offline Integrated Product Evaluation Fair'

Consultation Support with Merchandisers from 5 Major Department Stores, Lotte Mart, Homeplus, LotteON, and Other Retailers

The Korea Federation of Small and Medium Business (Kbiz) announced that it held the '2024 Second Half Online and Offline Integrated Product Evaluation Fair' on the 30th in Yeouido together with eight major distribution companies.

The online and offline integrated product evaluation fair is a win-win project that supports small and medium enterprises (SMEs) in entering distribution channels in connection with large corporations. In the second half of the year, eight major distribution companies, including the five major department stores (Galleria, Lotte, Shinsegae, Hyundai, AK), Lotte Mart, Homeplus, and LotteON, participated to help expand the market competitiveness of SMEs.

On the day of the evaluation fair, about 60 SMEs manufacturing products in categories such as food, daily necessities, health & beauty, and fashion accessories, which passed the document screening, participated and held consultations with merchandisers (MDs) from each distribution company.

Companies that enter distribution channels after additional consultations following the evaluation fair can receive benefits such as preferential commission rates, participation in pop-up events, display support, and entry into sales spaces dedicated to SMEs.

Son Seong-won, Director of the Small Business Policy Office at Kbiz, said, “This evaluation fair is meaningful in that eight distribution companies gathered under the common goal of supporting SME market entry,” and “We will continue to discover win-win cooperation projects between large corporations and SMEs to help reduce difficulties for small business owners in pioneering new markets.”