GS Global taps university students for new business ideas, offers top performers internships

By Park Hye-won, The Herald Business

GS Global announced Wednesday that it had run a new business idea program with students from major domestic universities, focusing on the food and beverage and beauty sectors.

The program was held May 28 with 32 students from consulting clubs at four universities — Sogang University, Kyung Hee University, Hankuk University of Foreign Studies and Duksung Women's University.

GS Global presented two business model frameworks: one leveraging the global trading capabilities of a general trading company in the F&B sector, and another combining aesthetic and cosmetic services in the beauty space. Students responded with a range of proposals, including exporting domestically processed matcha products to North America, importing food ingredients from Vietnam, and launching a home beauty device subscription service targeting Japan's direct-to-consumer market.

Four standout participants were selected to continue in a follow-up internship program. Over the summer break, they are gaining hands-on experience by conducting market sizing analyses, researching import and export data, and performing value chain assessments as part of new business reviews. The company said it aims to build a virtuous cycle — strengthening its capacity to develop new businesses while identifying promising talent early.

GS Global said the program was an extension of the open innovation initiatives it has pursued at the group level, with the goal of connecting outside ideas to actual business opportunities.

"Industry-academia collaboration, where companies and universities work together to identify future growth engines, is important," said Kim Sung-won, CEO of GS Global. "The combination of corporate business experience and networks with students' analytical skills and fresh perspectives created a meaningful platform for exchange."