Seoul, Korea - FAZE, a trading company specializing in clothing and beauty, announces that it had signed a memorandum of understanding (MOU) with Space Station Kibo Partners to expand its export business in K-fashion and the beauty industry.
The two companies shared that the MOU was concluded this decision was made to further promote the Korean brand in overseas markets.
According to a FAZE official, the company was established during the COVID-19 pandemic in June 2020. It successfully conducted business operations despite the pandemic and secured a foundation for growth through various partnerships. In addition, FAZE is promoting K-fashion and beauty to overseas markets via multiple platforms and is striving to introduce Korean beauty throughout the world.
As the Russian-Ukraine conflict and the aftermath of inflation and interest rate hikes have resulted in recessions in both export and imports as well as the domestic market. FAZE views this crisis as an opportunity and is planning for an even more progressive business operation.
A FAZE official stated, "One man's crisis is another's opportunity. [...] We will strive to turn this crisis into an opportunity by reshaping our thoughts and ideas."
FAZE has signed business agreements with several domestic and international brands and is operating its business with consideration of numerous market variables.
Contact: Kim Eun Seon