South Korean Government will be committed to encourage competitiveness of its textile and fashion industry. And how’s that going to happen! The Government, reportedly, will allocate US $ 33.7 million to ensure the success of the project.
This was confirmed by South Korea’s Trade, Industry and Energy Ministry recently.
The Ministry added that it will not only help textile companies adopt smart manufacturing solutions, but also support research projects on next-generation fabrics.
Further on this, there are also plans to invest 52.4 billion won to develop next-generation fabrics that can be used in the making of firefighting dresses.
‘Smart solutions’ is the order of the day! And Government’s commitment is in line with the worldwide trend of making customised products for individual customers.
That’s what a consumer wants, instead of being churned out pre-designed goods.
The Government had recently announced that its vision is to transform South Korea into becoming one of world’s top 4 manufacturing powers by 2030.
Considering the Government’s initiatives to encourage the adoption of smart factories especially in textile and apparel sector, it seems South Korea will be easily able to achieve its Mission 2030.