The Seoul Business Agency (SBA) has partnered with US venture capital firm IgniteXL Ventures to operate the 'Seoul Pavilion' at 'KOOM Pop-ups 2026 (KOOM Week 2026)', held from October 15 to 18 at Iron 23 in Manhattan, New York.
KOOM Week is organized by the United Korean Founders (UKF), the largest Korean entrepreneurship community in North America aimed at supporting and growing Korean entrepreneurs, investors, and innovators. The event, featuring a diverse array of K-culture and K-brand pop-up festivals, will showcase over 40 companies from the beauty, fashion, food and beverage, and tech sectors.
The specially created Seoul Pavilion will be themed 'K-BEAUTY FROM SEOUL - BEFORE IT HITS YOUR FEED', providing attendees the opportunity to experience and purchase emerging Seoul brands before they gain broader recognition on social media in the US. Eight Seoul beauty startups will participate in this initiative.
The US is the largest export market for K-Beauty. According to the Ministry of Food and Drug Safety, cosmetic exports to the US reached $2.18 billion last year, surpassing China at $2.02 billion, and this year has seen a further increase to approximately $2.35 billion (provisional) from January to September, marking a 40.6% rise compared to the previous year.
Despite these figures, early-stage startups face challenges in accessing local distribution networks and investors. To address this, the SBA is directly collaborating with US investors to facilitate successful market entry for Seoul's beauty startups.
This collaboration follows a memorandum of understanding between the SBA and IgniteXL Ventures signed in April. IgniteXL, established in 2020 based in Silicon Valley, specializes in beauty and wellness investments and has been selected for the 2024 Korea Venture Investment (KVIC) Overseas VC Global Fund investment project. The eight participating companies have been selected for IgniteXL's K2G (K-Beauty to Global) program to prepare for their entry into the US market.
The SBA is providing support for the operation of the Seoul Pavilion and organizing networking events with local investors and buyers. It will also assist with the costs associated with airlines, accommodations, and logistics for each company entering the market.
During the event, participating companies will validate their prospects in the US market through on-site sales and investor presentations.
Five of the companies, including Lumio (hair dye care), Pluff (pet skincare), Melixir (vegan beauty), GPAL (storytelling-based beauty), and CherryXX (color makeup), will sell products in the Seoul Pavilion to gauge consumer reactions and actual sales figures.
Additionally, three other companies—ZeroState (wellness neuro skincare), Unistella (nail jewelry), and LibraHealth (nutrition supplements for female athletes)—will fine-tune their US market strategies based on responses from local stores, consumers, and buyers.
On October 13, prior to the opening, a K-Beauty Mafia: NYC Happy Hour event will take place in Manhattan, featuring approximately 35 attendees, including participating companies, US investors, buyers, and influencers, to promote brand showcases and IR networking.
Companies participating in the event will not only gain opportunities in the US market but are also expected to receive investments ranging from approximately 200 to 300 million KRW from IgniteXL Ventures.
After the event, the SBA plans to analyze sales and consultation results along with consumer feedback for each company to support follow-up investments and entry into US distribution channels.
Kim Jong-woo, head of the Startup Division at the SBA, stated, "The competition for K-Beauty has now shifted from 'how well-known is it' to 'how well it sells in the local market'. We will support Seoul brands chosen directly by US investors to be evaluated by New York consumers and investors, serving as a springboard for actual sales and investments."
