For a country which is extremely crowded their styling is overboard. The Cheju Island in the East China Sea stands at 38,316 square miles. Within this small area more than 40 million people are living. However, that has not deterred then one bit in fashion style. Being Asia’s fourth largest economy has a very powerful inbred fashion and styling concept that it sometimes seems that people from the rest of the world are seeing them through tinted lenses.
Every since Gangnam has captured the hearts of millions around the world, South Korea is on the map for its style and fashion industry. If you notice their styling sense and fashion design is very much different from other countries. Thanks to several movie actors and singers, the fashion industry is developing and moving in the right direction.
When compared to other movie industries like Hollywood and Chinese film industry, South Korean actors have been able to make several inroads in their respective lines and brought about international notice in the fashion culture of the country. It comes as no surprise that several youngsters have taken it upon themselves to start and design their own beauty and skin care products and items.
Most of them would be less than 25 years along with a local partner. Foreign investors are taking note of that and are investing in the beauty sector, which is one of the fastest growing areas of business in South Korea. Some of the most popular beauty and skincare brands include 87MM (eighty-seven milli), BLANKOF, BLINDNESS, Buried Alive, COVERNAT, D.GNAK by KANG.D (pronouced dee-geu-nahk), ESPIONAGE, FOMAN, General Idea, Gentlemonster, grafik:plastic, Human Potential (also known as HUPOT, pronounced hew-pot), and many others.
Euromonitor International has claimed that the Korean apparel and footwear market is close to $30 billion today. The designer category has rocketed from $2 billion to $3 billion.
South Korean business work ethics and lifestyle
As far as South Korean business is done, it is different and unique in several ways. In the sense, they are known as chaebols. There are several features of the chaebol which include paternalistic leadership, family control and management, entrepreneurial orientation, centralized planning and coordination, strong school ties in hiring policies, and close business-government relations.
Some of them include Hyundai, Samsung, the LG Group (formally the Lucky-Goldstar Group), Sunkyong, and Daewoo. When these business ethics are followed and observed successfully, then a business stands to make excellent profits in South Korea. Not to mention Korean people are hard workers who can easily put in 12-14 hours every day.
It is also heartening to notice, that when compared to other Asian countries and American counterparts, Korean women take part in several business activities and are known to make wise decisions in the family as far as finances are concerned. It comes as no surprise that women are given high positions and have immense power over businesses and families.
Some of the reasons to consider doing fashion business in South Korea
The main reason like we read above to start a fashion business in this country would be because of the simple fact that, people love fashion. Not to mention, the figures are very high as far as exports of beauty and skincare products are concerned. That is a very encouraging sign. Local South Korean citizens have being able to capitalize on that weakness.
Using their experience and knowledge in the beauty and natural ingredients which are popularly used in producing skincare products, they have been able to create products that are used in most beauty salons around the world. Apart from that, the government has taken note of that and come up with policies which are friendly and business friendly.