▲ This poster for the "2026 Second-Half New Beauty Innovation Challenge" is provided by Amorepacific. (PHOTO NOT FOR SALE)(Yonhap)

 

SEOUL, Sept. 7 (Yonhap) -- Amorepacific said Monday it is accepting applications through Sept. 20 from startups seeking to participate in the "2026 Second-Half New Beauty Innovation Challenge," with selected companies eligible for up to 500 million won in equity investment.

 

Starting in the second half of this year, Amorepacific will combine its previously separate brand and technology competitions into "Brand Track" and "Tech Track" and hold the competition twice a year. The areas of recruitment have also been expanded from beauty and wellness to medical aesthetics.

 

The Brand Track is open to early-stage brand startups founded within the past five years with annual sales of 5 billion won or less.

 

Eligible areas include beauty brands such as skincare, makeup and hair care; wellness brands such as inner beauty and health care; and beauty device brands.

 

Selected companies will receive opportunities to connect with domestic and overseas distribution channels, business commercialization support and joint product development.

 

The Tech Track is open to technology-based startups that meet the eligibility requirements for recommendation under the government's TIPS startup support program.

 

Recruitment areas include beauty and medical aesthetics materials and technologies, beauty and medical devices, and digital beauty.

 

Amorepacific is considering working with relevant in-house organizations to conduct technology validation and proof-of-concept (PoC) projects while supporting efforts to create business synergies.

 

Finalists will be offered opportunities for equity investment of up to 500 million won. For technology-based companies, Amorepacific will also consider recommending them for the TIPS program run by the Ministry of SMEs and Startups.

 

Applications can be submitted through the official Amorepacific Ventures website by Sept. 20. Amorepacific plans to select the final companies in early November following a document screening and two rounds of in-person evaluations.

 

"The significance of this challenge lies in the fact that we have revamped it into an integrated system for discovering both brands and technologies while expanding its scope to medical aesthetics," an Amorepacific official said. "We will continue to expand opportunities for collaboration with promising startups by leveraging our various capabilities in research and development, product development and manufacturing, distribution and more."

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