Fashion retailing, where and how to purchase

  There is a proverb in the widely accepted English version.    “Every little helps.”   Synonymously, Koreans often say that when dust is collected, it can become a high mountain. In fact, there were several trash landfills in the suburbs of Seoul, which became quite high like a mountain in the past 20 to 30 years.   Anyway, Dongdaemun market is a large shopping mall that is hard to find in the other countries of the world. The market is famous for merchandising of various fashion products and its assortment. Therefore, Dongdaemun market, which has more than 30,000 wholesale and retail stores in one area, is a marketplace where anyone can easily shop for a variety of fashion products.   What is more unique than anything else is that many of the fashion products on such a large marketplace are manufactured and supplied by 15,000 small sewing factories in Gangbuk, Seoul. Each small sewing factory produces a few items and a small amount of fashion products, an...

“Dongdaemun market is one of the world’s leading business system with one-stop supply chain that includes design, fabric and parts procurement, sewing and physical distribution.” Professor Janice H. Hammond from Harvard Business School explained. + As everyone knows, Dongdaemun market immediately sells fashion products manufactured by many sewing factories around the market. On the other hand, few people know the story of the birth of such a sewing factory. After the Korean war, which lasted for three years from 1950, the Pyeonghwa Market with such a business system was first created on this marketplace. In the Pyeonghwa Market, shops were open on the first floor, and sewing factories were located on the second and third floors. When designing the market building, some of sewing factories were also put together.  According to this unique business system, merchants in Dongdaemun market produced and sold fashion products in one place. It was a wonderful thing. Since then, the sewing ...

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...