The Korea Fashion Association and Musinsa establish a business agreement to promote K fashion. From the left is Sung Rae Eun, the president of the Korea Fashion Association, and Park Jun Mo, the representative of Musinsa. /Courtesy of Korea Fashion Association

The Korea Fashion Association announced on the 22nd that it has signed a memorandum of understanding (MOU) with Musinsa to foster K-Fashion brands through mutual cooperation and development.

This agreement emphasizes the identification and cultivation of a win-win model by leveraging each party's strengths and resources in specialized areas such as brand development, intellectual property (IP) protection, and entry into overseas markets for the globalization of K-Fashion.

The association plans to actively collaborate with Musinsa in sharing networks to achieve its ultimate goal of successful global entry for K-Fashion brands through the global brand development project supported by the Ministry of Trade, Industry and Energy.

Sung Rae Eun, president of the Korea Fashion Association, said, "It is time to prepare for a significant leap for the global growth of K-Fashion brands, which have received high praise along with the spread of K-Culture," adding, "Through this agreement, we can sketch the future of K-Fashion together."

Park Jun Mo, CEO of Musinsa, noted, "I expect that cooperation with the Korea Fashion Association in the process of helping K-Brands enter global markets will further accelerate the overseas expansion of the domestic fashion industry," and stated, "We plan to expand mutual cooperation and exchange in necessary areas from discovering emerging brands to supporting their growth."