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Fibre2Fashion
Published
Feb 6, 2018
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Seoul charts fashion industry boost as part of growth plan

By
Fibre2Fashion
Published
Feb 6, 2018

The Seoul city administration recently unveiled a growth plan to create more than 60,000 jobs by 2022. The plan includes boosting the fashion industry, which has declined a lot in the last few decades, by supporting 100 firms that make shoes, clothes and jewellery. The Seoul Fashion Innovative Hub planned in Dongdaemun will connect all fashion stakeholders.


Photo: Seoul Fashion Week


The city will spend $3.2 billion to nurture 10,000 small and medium enterprises (SMEs) and start-ups, a Korean nerwspaper report quoted Seoul mayor Park Won-soon as saying.

The Hoegi-dong and Sanggye/Chang-dong areas in north-eastern parts of the city will become a hub for development of biotechnology and information and communication technology (ICT). The Seoul Biotech Hub opened last October in that direction.

Research and development (R&D) facilities will dominate Magok Industrial Complex, Guro-gu and Yangjae-dong in southern Seoul. Magok's facilities will support SMEs, while Guro-gu will support the Internet of Things (IoT). An R&D campus in Yangjae-dong will host young researchers and companies specialized in artificial intelligence.

Other areas of focus are virtual reality and animation.

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