Backpackr (CEO Dong-Hwan Kim), a company that operates Korea’s largest crafts and handmade food market application idUS, signed MoU(Memorandum of Understanding) with IGIS Asset Management. Main content of this agreement is that Backpackr will jointly develop and operate handcrafted contents on business sites run by IGIS Asset Management’s funds, expanding idUS products and service to offline.
IGIS Asset Management manages funds net worth of 16 trillion KRW. The company acquired Ssamji Gil in Insadong last year in order to revitalize the business district. It has also acquired buildings on Garosu-Gil in order to expand the business. idUS is a marketplace app that sells handmade accessories, leather crafts, ceramics, natural organic soap, and homemade snacks, handcrafted by nearly 3,000 artists.
Backpackr CEO Kim Dong-hwan commented, “I hope that idUS will be able to play a critical role in expanding domestic handicraft market through collaboration with IGIS Asset Management.” He added, “We will actively support creating trendy streets selling handcrafted goods throughout Seoul.”
Image Credit: idUS