GS Retail selects six startups to innovate retail biz

South Korea's GS Retail said on Friday it selected six startups—Studio Lab, Tilda, Oasis Business, YesPlzAI, Vessl AI, and Raondata—through its ‘The GS Challenge Future Retail’ program. 

In collaboration with the Seoul Center for Creative Economy & Innovation, GS Retail evaluated over 160 applicants, selecting finalists based on their technological advancements and potential synergy with GS Retail’s core business.

Studio Lab, for example, specializes in automated commerce detail page generation, while Tilda offers AI-driven decision-optimization solutions.

Representatives from the six startups met on Thursday with GS Retail executives at the company’s Seoul headquarters to discuss future collaborations with CEO Heo Yeon-soo.

GS Retail plans to integrate the startups' solutions— from generative AI (GenAI) to digital transformation—into its retail operations and customer services.

Each startup will receive 10 million won ($7,500) to support joint initiatives and guidance from a dedicated team of distribution and investment experts.

Write to Hyung-Joo Oh at ohj@hankyung.com