South Korean cosmetics powerhouse LG H&H is teaming up with Draper Startup House, an arm of Tim Draper’s venture capital empire, to hunt for promising beauty tech ventures.
The partnership marks the Korean company’s first major step into the startup ecosystem, with plans to establish a dedicated innovation center in Seoul’s upscale Garosu-gil neighborhood. The initiative, set to launch November 1, aims to bridge Korean beauty innovations with global markets.
DSH, which operates in 35 locations across 20 countries, will bring its startup acceleration expertise to the Korean beauty sector. The new center will function as both an incubator and networking hub, offering startups access to specialists in technology, marketing, and investment.
The collaboration includes a special beauty-focused segment on “Meet the Drapers,” the TV show featuring the prominent Silicon Valley investor family. This media exposure could give selected startups visibility in the competitive U.S. market.
For LG H&H, which faces increasing competition in the global beauty market, the move could help refresh its innovation pipeline through external partnerships. The company joins other Korean beauty giants that have been actively seeking technological advantages to maintain their edge in the rapidly evolving cosmetics industry.
