Deputy Minister of Industry Participates in First KOSFE Event... "Momentum for Consumption Promotion"

Deputy Minister Jeong Seung-il Appears in Online Fashion Show and Live Commerce

On June 26, citizens are seen exploring the venue at 'Korea Fashion Market Season 1' held at Lotte Department Store Jamsil Branch in Songpa-gu, Seoul. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Moon Chaeseok] The Ministry of Trade, Industry and Energy announced that Vice Minister Jeong Seung-il will attend the opening ceremony of the 'Cheer Up Korea! Korea Fashion Market Season 2 (Korea Fashion Market)' held at Lotte Department Store Jamsil Branch in Seoul from 11 a.m. on the 30th.

The Korea Fashion Market was organized as part of the '2020 Korea Sale Festa' to overcome the crisis faced by the fashion industry due to the recent prolonged economic downturn and the novel coronavirus disease (COVID-19).

From today until the 5th of next month, it is a large-scale online and offline sales promotion event offering significant discounts.

The 'Korea Fashion Market Season 1' held in June contributed to the sales growth of 193 brand companies that participated in the event. Season 2 is being held on an even larger scale, with nearly double the number of participating companies.

In Season 2, leading online fashion platforms NAVER, W Concept, and Musinsa are participating as distributors. Offline, Lotte, Shinsegae, Hyundai Department Store & Outlet are participating, offering up to 90% discounts on a total of 334 fashion brands including women's wear, men's wear, casual wear, outdoor wear, golf wear, and children's wear across 15 stores.

Especially, the opening ceremony event will feature a live-streamed online fashion show composed of products participating in the Korea Fashion Market. A special broadcast was arranged on '100live,' the live commerce channel within the department store mall, where Vice Minister Jeong directly participated in product sales.

In his congratulatory speech, Vice Minister Jeong said, "This is the first event of Kosepe, which will act as a catalyst for the recovery of consumer sentiment," and added, "I hope that through the Korea Fashion Market, born from government support and the distribution industry's win-win cooperation, we can create momentum for stimulating consumption."

He continued, "I ask that thorough quarantine management be ensured so that consumers can visit with peace of mind, including strict adherence to the 'Korea Sale Festa Quarantine Management Guidelines' to prevent COVID-19."

This content was produced with the assistance of AI translation services.