Singapore students reap rewards from taking Korean beauty brands to Myanmar

22 Oct 2018

Article featured Diploma in Business Administration students Aung Shin Khant, Pua Seng Oon and James Ang, who are reaping rewards from taking Korean beauty brands to Myanmar. The trio set up shop in the country's second-largest city, Mandalay, selling Korean skincare products and made more than $20,000 in just a week of their store's official opening last month. The idea for their business, which they named Keeo or "care" in Korean, came from an entrepreneurship module they took in April last year. Each of them contributed to the initial start-up cost of $6,000. After conducting market research, the team realised there was strong demand for Korean beauty products among Myanmar consumers, especially with rising affluence and the growing popularity of Korean dramas and celebrities. Keeo now carries items from four main Korean brands targeted at different segments of the population. It has products from Innisfree, which is popular among young adults and teenagers; Laneige, which is targeted at older people; Medicube, which specialises in acne treatment; and Pyunkang Yul, which makes organic products. It also brings in products based on pre-orders and customer requests, such as sunblock for golfers. The trio also shared about the learning experiences in their entrepreneurship journey. (The Straits Times, pB14)