MOU for co-prosperity of textile fashion companies
- Date2020/06/12 14:29
- Hit 1,052
The Korea Textile Export-Import Association (Chairman Min Eun-ki) announced on the 20th that it signed an MOU to promote a win-win cooperation program among textile fashion companies. Under the agreement, Samsung Fashion and K2 Korea will join forces to strengthen their competitiveness in manufacturing finished garments with locally produced materials and sewing.
Samsung fashion division has brands such as Beanpole, Kuho and Lebeige. To support small and medium-sized business partners, the company is pushing for a 1 percent low-interest loan worth 15 billion won this year. It also plans to focus on systematically managing excellent partners and improving manufacturing competitiveness.
K2 Korea, which owns brands such as K2, Eider and Dynafit, had a 42 percent share of fabric and sewing worth 140 billion won last year. Through this project, K2 Korea plans to replace old facilities and support the development of competitive items by domestic textile manufacturers.
The agreement was made at the "5th Post-Covid19 Industrial Strategy Dialogue" held on May 20th with the support of the Ministry of Trade, Industry and Energy.
Source: Korea Textile Newspaper (http://www.ktnews.com)