Seong Rae-eun, chairperson of the Korea Fashion Association, emphasizes the need for K-fashion to adapt to global trends and embrace sustainability at the 40th Anniversary Global Fashion Forum.
Seong Rae-eun, chairperson of the Korea Fashion Association and vice-chairman of Youngone Holdings, delivered a profound message at the ’40th Anniversary Global Fashion Forum 2025′ on November 11, 2023, held at the FKI Center in Yeouido, Seoul. In her address, she highlighted the urgent need for the fashion industry to adapt to the swiftly changing global trends. “It is time to read the rapidly changing trends in the global fashion market and require insights and new strategies that encompass sustainability, technological innovation, and cultural diversity,” she stated.
The Global Fashion Forum, now in its seventeenth iteration since its inception by the Korea Fashion Association in 2009, serves as a platform for discussions surrounding the growth requirements and successful strategies of K-fashion brands in the international marketplace. This year holds special significance as it marks the 40th anniversary of the Korea Fashion Association, which rebranded from the Korea Fashion Industry Association earlier in February to reflect the broader landscape of K-fashion as it navigates the global stage.
Chairperson Seong described the past decades as foundational for K-fashion, asserting that the coming years must focus on achieving significant growth. She remarked, “If the past 40 years were a time to lay the foundation for K-fashion, the next 40 years will be a journey to leap into the global top 5 fashion powers.” She underscored that K-fashion has evolved into a cultural phenomenon rather than merely a passing trend, noting its increasing acceptance on global runways and streets.
During her speech, Seong emphasized the heightened competitiveness of the global fashion market, stating, “The global fashion market is becoming increasingly fierce, and its trends are changing rapidly.” The chairperson stressed that keeping pace with technological advancements and cultural diversity is vital for K-fashion’s sustained success internationally.
In addition to Seong’s address, a keynote speech was delivered by Lee Jae-sang, CEO of HYBE, who spoke on the theme “Play Local, Win Global.” He drew parallels between Korea’s music industry and fashion, noting that both sectors had yet to fully industrialize. Lee encouraged the fashion industry to embrace localization, suggesting that “the most Korean thing is the most global thing.” He urged K-fashion to adopt a “multi home market” strategy, recognizing the potential for growth as local players in various international markets.
The forum included a panel discussion moderated by Lim Jeong-min, head of Signite Investment, which featured industry leaders such as Ha Sung-ho, CEO of WhyYou Partners, Lee Doo-jin, CEO of MediQuarters, and Jo Bon-bom, CEO of BonBom. The panelists delved into key growth strategies for K-fashion, emphasizing the roles of investment and collaboration.
Lee Doo-jin shared insights from his experience with the fashion e-commerce platform ‘Nugu’ in Japan, noting that localization played a crucial role in their success. He reflected, “We initially started with a Korea-centric organization and leadership, but in hindsight, the most important thing was localization,” highlighting the importance of hiring local talent in leadership roles to navigate market nuances effectively.
Ha Sung-ho added that founders’ understanding of the industry’s value chain significantly impacts corporate value, stating, “These factors are all reflected in corporate value, enhancing profitability, and consequently, increasing corporate value, leading to recognition as a good brand in the investment sector.”
Lim Jeong-min concluded the panel discussion with a strong assertion about K-fashion’s status, highlighting its role as a global leader. “K-fashion is no longer a follower but a global leader,” he declared, emphasizing the necessity for ongoing efforts to sustain this status in the foreseeable future.
The 40th Anniversary Global Fashion Forum has underscored the aspirations and strategic imperatives facing K-fashion as it seeks to establish itself more firmly on the global stage in the coming decades.
Source: Noah Wire Services
