South Korea launches K-Brand Challenge for beauty, fashion and life SMEs

South Korea's Ministry of SMEs and Startups announced recruitment for the 2026 K-Brand Challenge, a program aimed at small and medium‑sized enterprises that own their own brands in the beauty, fashion and lifestyle sectors. Eligible firms must have no export sales last year or export revenues of less than US$5 million. Applications are accepted online until 6 p.m. KST on 7 August.

The competition proceeds through a written preliminary round, a main round evaluating quality, design and market intent, and a final presentation assessing brand competitiveness and growth potential. Approximately 60 firms are shortlisted in the preliminaries, about 30 advance to the main round, and nine companies – three per sector – will be selected for the final stage. Winners receive up to ₩30 million in prize money, export vouchers, assistance with overseas certification, and online marketing support. They also gain opportunities to showcase products at domestic and foreign pop‑up stores and to meet overseas buyers and investors.

The Ministry cites the expanding global interest in Korean consumer goods beyond K‑beauty, prompting the inclusion of fashion and lifestyle categories. Sim Jae‑yoon, Global Growth Policy Officer at the ministry, emphasized the intent to help promising SMEs enter international markets and raise the profile of K‑brand products.