Fashion retailing, where and how to purchase

Apart from the tragic human consequences of the COVID-19 coronavirus pandemic, the economic uncertainty it has sparked will be difficult to predict. In the midst of this domestic and foreign economic crisis, Dongdaemun Fashion Cluster is also facing a big crisis, as if everything has stopped. As every cloud has a silver lining, hopefully, the end of the crisis will come to us someday. The question will depend on how we meet the market situation at that time. This is because Dongdaemun market has had more structural problems in the market than factors appearing outside the market. In the meantime, Dongdaemun market has grown by improving the productivity of human resources such as people and their development will rather than capital or size of market and other physical resources. In the midst of economic growth, changes in market structure and social environment, however, people in Dongdaemun market are unable to adapt to the changes and prevent their competitive...

As a pronoun for Dongdaemun market today, Pyeonghwa Market was founded by refugees from North Korea fleeing to South Korea during the Korean war which had occurred for three years from 1950.  Rebuilt on the ashes of a big fire, the market has grown into a unique marketplace for ‘producing and selling fashion clothes’ in the economic crisis and its aftermath that have lost many people’s lives and property during the war. After the financial crisis in late 1997, the Korean economy faced a serious crisis of negative growth. In the midst of the economic crisis, wholesalers in Dongdaemun market, including Art Plaza, were extended their business hours from 8:30 pm to early next morning or 5: 00 pm, providing convenience for local retailers and foreign buyers. Thanks to such market innovation, Dongdaemun market wrote the so-called Dongdaemun myth, which achieved business performance such as increase in sales and expansion of stores. In this way, Dongdaemun market people turned to...