Korea Trade-Investment Promotion Agency (KOTRA), a state-funded trade and investment promotion organization operated by the Government of South Korea is planning to introduce a fashion fund to boost Korea-China apparel market. The aim is to encourage Korean companies set up manufacturing in Korea itself. While apparels bearing the ‘Made in Korea’ tag perform well in the global market, the number of textile and garment companies operating from Korea is declining since they are relocating manufacturing plants to China and Vietnam.
The planned funds would help small and mid-sized companies in both the countries by amalgamating the expertise of Korean designers and Chinese garment manufacturers under the slogan ‘Made in Korea, Made with China’. KOTRA was established in 1962 as a national trade promotion organization. Since then, it has successfully facilitated Korea's rapid export-led economic development through various trade promotion activities such as overseas market surveys and business matchmaking.