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China’s THAAD Retaliation Might Not Affect Korean Fashion Industry

By March 10, 2017 at 6:21 am
South Korean women to have life expectancy gains (Photo : Chung Sung-Jun/Getty Images)

The Korean fashion industry might not be affected by China's retaliation over the U.S. Terminal High Altitude Area Defense or the THAAD anti-missile defense system. This has been reported after tension between Korea and China has escalated quickly.

Seoul Fashion Week which is Korea's largest fashion festival and trade show have been gaining almost 60 percent of its items from Chinese clients. The executive director of Hera Seoul Fashion Week, Jung Ku-ho shared that economic retaliation by the Chinese is likely to affect the nation's fashion industry.

The number of Chinese who will be visiting the said fashion event is unaffected since Chinese normally form one-third of foreign buyers. This has been reported on Korea Times amidst the conflict brought about by the issue on THAAD.

Jung also added that he had a meeting with some prominent Korean fashion designers and they told him that their sales rely a lot on the Chinese market. But he also said that the issue brings about some sort of good news and bad news.

The numbers of contracts with Chinese customers are not really diminishing but they have to consider that China is obviously the biggest market for them. According to him, almost 200 buyers from the said country will visit the Seoul Fashion Week which will be held from March 27 to April 1.

The fashion industry in Korea is not really concerned and worried as to the effect of the economic retaliation of China on the Seoul Fashion Week because it promotes a market intended for small-sized businesses.

But they still need to maximize precautionary measures as they do not know what will happen and they hope China's retaliation will not extend any further. But the Korean fashion festival must continue to promote local designers overseas.

Meanwhile, Jung mentioned that a number of orders made in the country between foreign clients and Korean designers are going up every season. The most important thing amidst the issue on THAAD is promoting Korean designers in the world and to feature their creations where people gather as one.

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