Innocean, a South Korean marketing communications agency under Hyundai Motor Group, announced Tuesday that it has signed a memorandum of understanding with Joopiter, the digital auction platform founded by musician and designer Pharrell Williams, to pursue new business opportunities and expand their presence in Asia.

The signing ceremony, held earlier this month at Joopiter’s New York headquarters, brought together Innocean CEO William Lee and Joopiter CEO John Auerbach. The two leaders agreed to explore opportunities for joint business development and strategic projects to strengthen their foothold in the Asian market, Innocean said.

“Through this partnership, we plan to pursue collaborations in brand partnerships, digital content creation and retail innovation,” said an Innocean official, adding that the focus would be on uncovering growth opportunities in rapidly evolving markets such as Japan, China and Thailand.

Founded in 2022, Joopiter specializes in online auctions featuring collectibles from prominent figures across art, design, culture and entertainment. The partnership builds on Innocean’s previous involvement with Joopiter’s successful Korean debut as a partner sponsor for the “Nothing But a ‘G’-Thang: The Art & Archive of G-Dragon” auction and exhibition held at Seoul’s Daelim Museum in September.

“Innocean’s creative capabilities and Joopiter’s global network will create a unique synergy,” said Innocean CEO William Lee. “We are eager to shape the future together and invite everyone’s continued interest in our journey.”