Hyungji Innovation and Creative has moved to expand its foothold in China by building a cooperative framework with organizations in Shanghai.
The company signed an MOU on June 18 with Shanghai Xihongqiao Enterprise Service Co., a business support organization in the Xihongqiao district of Shanghai, it announced Monday.
Under the agreement, Hyungji Innovation and Creative plans to open a pop-up store this year inside Panlong Tiandi, a mixed-use cultural and commercial complex in Shanghai. The store is expected to showcase products from the company's key brands, including Yezac, Bon and Carries Note.
The company views Shanghai as a strategic base for expanding its business in China and is working to build a cooperative network with local institutions and companies. Through the MOU, it plans to secure local distribution channels and business infrastructure while broadening inter-company exchanges.
The Xihongqiao area is a major transportation hub home to a high-speed rail terminal and Hongqiao International Airport, connecting the district to key cities across the Yangtze River Delta region.
Building on its partnership with Shanghai Xihongqiao Enterprise Service Co., Hyungji Innovation and Creative said it will explore ways to link up with local businesses. The company also said it is in discussions about participating in the China International Import Expo, scheduled for later this year.
"We plan to use Shanghai as a base to expand our touchpoints with the local market and seek business cooperation opportunities," a company official said. "Through the pop-up store we are pursuing this year, we will gauge consumer response and review the direction of future projects."
Meanwhile, on the same day, Hyungji Innovation and Creative also signed an MOU with the Korea-China Business Entry Support Association, an organization that helps South Korean companies expand overseas, further broadening its cooperative framework for the Chinese market.
kim3956@heraldcorp.com
