Musinsa announced on the 31st that it has signed a memorandum of understanding (MOU) with the Seoul Regional Small and Medium Business Administration of the Ministry of SMEs and Startups to promote the overseas expansion and export activation of promising fashion brands in the Seoul area.
The two sides will implement practical cooperation measures through this agreement, including discovering and supporting the growth of promising fashion brands in the Seoul area, hosting online exhibitions to expand overseas sales channels, and conducting promotions for global customers. Furthermore, they plan to create collaborative synergies by linking this with the 'Legend 50+ Project,' which the Seoul Small and Medium Business Administration is currently operating to enhance the global competitiveness of fashion small and medium enterprises in Seoul.
Musinsa plans to support the overseas expansion of fashion brands with growth potential in the Seoul area by leveraging its platform operation experience and global network. In particular, a dedicated exhibition tab will be established in the Musinsa Global Store to strengthen sales and marketing. Additionally, it will provide practical support measures such as discount coupon promotions to allow more global customers to experience participating brands.
Along with this, starting this second half of the year, it plans to sequentially implement various cooperation programs aimed at enhancing brand operation capabilities, including mentoring programs and customized training for participating brands.
Lee Byung-kwon, head of the Seoul Small and Medium Business Administration, said, 'Cooperation with Musinsa will serve as a model case where the capabilities of a leading domestic fashion platform and government policy are combined' and added, 'I expect a significant opportunity for Seoul fashion brands to enter the global stage.'
A Musinsa official noted, 'We will spare no effort to support competitive fashion brands in Seoul to leap into the global market.'