Musinsa Provides 20 Billion KRW Interest-Free Production Funds to Partner Brands

[Asia Economy Reporter Eunmo Koo] Online fashion platform Musinsa announced on the 14th that it will lend 20 billion KRW interest-free to support the production of new fall and winter (F/W) season products for its partner brands.

Musinsa recently accepted applications for the 'Mutual Growth Fund Support Project' from its partner brands and plans to provide up to 20 billion KRW as production funds based on the applications. Selected brands through the recruitment process will receive the requested amount of funds sequentially starting from July.

Musinsa expects this support to alleviate the financial burden on small and medium-sized fashion brands struggling due to the global surge in raw material prices.

Since 2015, Musinsa has been providing production funds four times a year, seasonally, to help partner brands produce products stably.

Last year, considering the prolonged COVID-19 pandemic, Musinsa lent 52.1 billion KRW interest-free over five rounds, supporting a total of 130 billion KRW to date.

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