Lazada Group and Seoul Business Agency forge strategic partnership to create eCommerce opportunities for South Korean SMEs in Southeast Asia

Lazada Group (Lazada) and Seoul Business Agency (SBA) have entered a Memorandum of Understanding (MoU) to open up new horizons for South Korean small and medium-sized enterprises (SMEs) in Seoul seeking to expand their reach into the vibrant Southeast Asian market, starting with Singapore.

This collaborative effort aims to create greater opportunities for South Korean businesses, and to empower them through Lazada's technology, tools and solutions to thrive and prosper in the Southeast Asian digital shopping space. Concurrently, this will also enhance the range of products and brand options accessible to Lazada's customers.

The MoU was signed by Jason Chen, Chief Business Officer, Lazada Group and Chief Executive Officer; and Hyunwoo Kim, Chief Executive Officer, Seoul Business Agency at the Lazada office, Lazada One in Singapore. This occasion marks the first visit by Hyunwoo Kim, CEO of SBA to Singapore for the signing ceremony with Lazada, a leading eCommerce platform in Southeast Asia, underscoring the significance of the partnership between the two companies.

Jason Chen, Chief Business Officer, Lazada Group and Chief Executive Officer, Lazada Singapore; said: "We are thrilled to embark on this strategic journey with Seoul Business Agency. This collaboration not only strengthens our commitment to offering buyers an extensive variety of products but also reinforces our dedication to fostering cross-border shopping and welcoming brands and sellers from across the globe to our eCommerce ecosystem. South Korean SMEs have much to offer, and together with Seoul Business Agency, we aim to unlock their potential in Southeast Asia."

Hyunwoo Kim, Chief Executive Officer, Seoul Business Agency, echoed the sentiments: "Seoul Business Agency has always been dedicated to driving innovation and economic growth for SMEs in Seoul. Partnering with Lazada will allow South Korean SMEs to sell their products to customers in Southeast Asia, and to optimize their businesses by accessing Lazada's technology and seller tools. This is a natural extension of our mission, and this MoU signifies our commitment to creating quality job opportunities and facilitating the success of South Korean businesses. We are excited about the potential this collaboration holds for our SME community."

Under this agreement, SBA will take the lead in promoting Lazada as a key Southeast Asian eCommerce marketplace destination among SMEs in Seoul. The collaboration will first roll out in Singapore, where SBA and Lazada will work together to onboard and incubate selected new cross-border sellers from Seoul onto the Lazada Singapore platform.