SEOUL, Jun. 26 (Korea Bizwire) – South Korea will beef up the competitiveness of its textile and fashion industries by helping local firms adopt smart manufacturing solutions and supporting research projects on next-generation fabrics, the industry ministry said Wednesday.
Under the plan, the government will allocate 39 billion won (US$33.7 million) over the 2018-2022 period to help local sewing, dyeing and shoe factories adopt smart solutions to produce on-demand products for clients, according to the Ministry of Trade, Industry and Energy.
The move is in line with the global trend of making customized products for individual clients instead of mass producing pre-designed goods, the ministry said.
The plan also calls for 52.4 billion won to be earmarked up to 2023 for the development of next-generation fabrics that can be used in firefighters’ suits and other specialized areas.
Earlier this month, the government announced a vision to turn the country into one of the world’s top four manufacturing powers by 2030 by promoting the adoption of smart factories and applying information and communications technology to new growth engines such as textiles and clothing.