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Seoul charts fashion industry boost as part of growth plan
06
Feb '18
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.

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. (DS)

Fibre2Fashion News Desk – India


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