The Korean Green New Deal and Sustainable Fashion Marketing
“The Korean
New Deal is the architect to design the Republic of Korea’s new century.”
President Moon Jae-in said in his speech. +
He explained
that the government has selected 10 signature projects for the ‘Digital New
Deal’ and ‘Green New Deal,’ two pillars of his Korean New Deal roadmap,
including eco-friendly mobility, a smart healthcare infrastructure, green
energy, and the digitization of social infrastructure.
With a budget of about US
$13 billion over the next five years, the Korean New Deal is an amazing
investment plan. In particular, like the chorus of people from all over the
world, “Let’s save the one our Earth!”, the Green New Deal will be an
opportunity to advance the sustainable growth of the Korean economy.
In the endless fashion
revolution of the world, the Korean Green New Deal should also stimulate and support the sustainable growth
of K-fashion business. The
manifesto for the world’s fashion revolution is widely sympathetic.
“We love fashion. But we
don’t want our clothes to exploit people or destroy our planet. We demand
radical, revolutionary change. This is our dream...” ++
Merchants in Dongdaemun market are loved by global consumers as they
produce and supply good fashion products more quickly and at lower prices. Especially for them,
sustainable fashion marketing is possible by selling designer products with
newness and diversity at low prices.
In the mood of the global fashion revolution, however, Dongdaemun market
people need innovative marketing strategies to produce and sell more
environmentally friendly fashion products. Above all else, they should prioritize improving
the economic and emotional value of Dongdaemun fashion products through the use
of natural fibers such as cotton or silk and rest of it.
Of course, natural fibers such as cotton and silk have been regarded as
high-cost raw materials and parts due to the comparative advantage of production
during the development and growth of the Korean economy.
-Some of the popular Dongdaemun fashion items we
exported last week, seoulclick.com-
“Our Nuetown (Buan Silkworm
Complex) is contributing greatly to the development of the fashion and bio
industries, including the production of colorful cocoons and cosmetic
ingredients to promote health, as well as mass production of silk thread.” +++
As we all know, after
industrialization-driven economic growth, rural areas in Korea has undergone changes
such as population reduction, labor shortages, and farmland idleness amid the change
of production structures. There, the 4th industrial revolution is taking place,
led by smart farms, with the production of rice no longer increasing and the
labor-intensive production system collapsing.
The Korean Green New Deal,
which is being planned in time, will be an opportunity to grow into a global
production base for eco-friendly textile industries such as cotton and silk in
rural areas. This sustainable policy approach compares to the fashion industry
environment in many foreign countries where large quantities of chemical fibers
are supplied instead of natural fibers such as cotton and silk.
In the future, the Korean
Green New Deal will contribute to opening a new way for Dongdaemun people to
supply eco-friendly fashion products at lower prices thanks to mass production
of natural fibers in the rural area. Luis Casacuberta, managing director women’s & kids’ part at Mango said.
“Corona is no excuse to back off from sustainability. Moreover,
sustainability will be among key product priorities, together with quality and
durability,” ++++
We
must listen to such a warning. Now is the time in which we have to make an
innovative decision.
+ Korea
Times, July 13, 2020.
++ Why we
steel need a fashion revolution, whitepaper, 2020.
+++ www.buan.go.kr/nuetown
++++
fashionunited.com/news
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Bong Sul (Advisor, SeoulClick)
Read more: Bong (Bong Sik) Sul, Dongdaemun Style, ebook.kstudy.com, Seoul, 2019.
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