Ministry of SMEs and Startups launches 'K-Brand Challenge' to boost beauty, fashion and lifestyle exports

The Ministry of SMEs and Startups said Sunday it is accepting applications for the "K-Brand Challenge."

The K-Brand Challenge is a program designed to identify high-potential small and medium-sized enterprises in the consumer goods sector and develop them into globally competitive exporters.

The program launched in 2024 as the "K-Beauty Creator Challenge." This year, reflecting growing international interest in Korean consumer goods, the ministry expanded eligibility beyond beauty to include fashion (apparel) and lifestyle goods, and renamed the program the K-Brand Challenge.

Applications are open to SMEs in the beauty, fashion and lifestyle sectors that operate their own brand. Eligible applicants include domestic-only companies and export beginners with less than $5 million in exports last year.

Nine companies — three from each sector — will be selected through preliminary, semifinal and final rounds. Winners will receive opportunities to participate in pop-up stores at home and abroad, export and investment consultations with overseas buyers and investors, and online marketing support. They will also receive priority consideration for export vouchers and overseas standards certification programs, and startup companies among the winners will receive preferential treatment under the early-stage startup package.

The ministry has been closely watching the global hallyu consumption trend — which spread initially through K-beauty — rapidly expand into fashion and household goods. Its strategy is to move beyond simple export support by combining overseas buyer development, local promotion and online marketing into a brand-building approach. The ministry plans to strengthen step-by-step support in particular so that SMEs with limited export experience can establish a foothold in overseas markets.

"Global consumers' interest in K-brands, which began with beauty, is spreading across consumer goods as a whole, including fashion and lifestyle," said Shim Jae-yun, the ministry's director general for global growth policy. "We will expand policy support so that more excellent SME products can enter global markets, raise the profile of K-brands and drive SME exports."

Applications will be accepted from Sunday through Aug. 7, and details are available on the Korea SMEs and Startups Agency's GoBizKorea website.