Prime Highlights-
- LG H&H has joined a Seoul-led programme to support K-beauty and wellness startups through funding, research, and global expansion support.
- The initiative focuses on connecting startups with established firms to improve growth, innovation, and market access.
Key Facts-
- LG Household & Health Care is a South Korea-based company operating in beauty, personal care, and wellness sectors.
- Selected startups will receive about 10 million won in funding and international expansion support through LG’s global network.
Background-
LG Household & Health Care has joined hands with the Seoul Business Agency to support startups in the K-beauty and wellness sectors. The step aims to encourage innovation and help young companies grow in global markets.
The agreement was signed through a memorandum of understanding. Under the agreement, LG H&H will take part in the “Seoul Startup Hub Lifestyle Open Innovation” programme, run by the Seoul Metropolitan Government and the Seoul Business Agency.
The programme focuses on helping early-stage companies grow by providing funding, technical support, and access to partnerships with established firms. It also encourages cooperation between startups and large companies to improve business opportunities.
LG H&H will select startups that match its science-based approach to beauty and wellness. The company will work with them on joint research projects and explore ways to bring new products to market.
Selected startups will receive about 10 million won in funding along with support to expand into international markets through LG’s global network. Officials said the programme will help startups grow and manage challenges such as entering overseas markets and meeting regulatory standards.
The initiative also reflects the Seoul government’s effort to build the city as a hub for innovation and entrepreneurship. It connects startups with established companies to create more opportunities for growth and collaboration.
LG H&H said it will continue backing new ideas in beauty and wellness while working to strengthen its long-term growth strategy.
