Indonesian Fashion Product Modest Record Transactions of IDR 29.44 Billion in Korea
JAKARTA - The Ministry of Trade (Kemendag) noted that modest fashion products from Indonesia managed to score potential transactions of 2 million US dollars or IDR 29.44 billion at the Indonesian Festival, Gwanghwamun, Seoul, South Korea, 28-29 September 2023.
Director General of National Export Development at the Ministry of Trade, Didi Sumedi, said that the transaction consisted of real business to consumer (B2C) transactions and a memorandum of understanding (MoU) for the development of the most moderate fashion in Korea.
"The participation of the fashionable fashion brand aims to promote Indonesia's fashionable fashion abroad on a massive scale. This activity is one of the Ministry of Trade's efforts to build a network of Indonesian modest fashion in the international market," said Didi, quoted by ANTARA, Friday, October 6.
Director of Creative Services and Product Development at the Ministry of Trade, Miftah Farid, said that the Ministry of Trade is committed to continuing to encourage increased exports of Indonesian modest fashion.
According to him, Indonesian modest fashion brands have great potential to enter the export market.
He said there would be an exploration of cooperation between Indonesian brands and potential buyers from South Korea after the exhibition was finished.
Miftah also said that during the implementation, eight Indonesian fashion brands attempted to collaborate with local designers, boutiques, business actors, the South Korean Halal Association and the Indonesian Global Association.
"We need to pay attention to various things, including design and size which need to be adjusted to market tastes, product quality and pricing. This is an important element so that products are more competitive," said Miftah.
Miftah said that the eight brands displayed at the 2023 Indonesian Festival were participants in the Jakarta Modest Fashion Week incubation activities under the guidance of the Ministry of Trade in collaboration with the Ministry of Tourism and Creative Economy, namely Apikmen, Arabelle Scarf, Archipelago Texture, Aruna Creative, Fatih Indonesia, Gitaratna, Jenna&Kaia, and Resine & Bouton.
Based on data from the State of the Global Islamic Economy Report 2022, world Muslim market consumption of the most moderate fashion products and Muslim fashion in 2025 is predicted to be 375 billion US dollars. This value increased by 6.1 percent compared to 2021 which amounted to 295 billion US dollars.
According to Miftah, over the last two decades, South Korean culture has developed rapidly and expanded globally through the "Korean Wave" which is synonymous with music, drama, fashion and culinary.
The strong K-Pop culture and South Korean celebrities have also brought a good name to South Korean culture, including the global fashion sector.
One of the effects of the success of the "Korean Wave" is the large number of tourists visiting South Korea.
With the continued increase in foreign tourists visiting, the South Korean government is actively and innovatively developing tourism. One of the opportunities that can be exploited is halal tourism.
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According to the Korea Tourism Organization report, Muslim countries visiting South Korea include Indonesia, Malaysia, the Middle East, Kazakhstan, Uzbekistan, Turkey, Iran, Pakistan and Bangladesh.
"The South Korean government can take advantage of this opportunity. They are carrying out a new innovation to develop the tourism sector by promoting the slogan 'Muslim Friendly Korea'. For this reason, this is an opportunity for the Modest Indonesian fashion in South Korea," said Miftah.