Each season, consumers are enticed by various 'items in fashion.' Every year and every season, diverse products are released into the market in line with the latest color and style trends. It is the era of "fast fashion" indeed.
Consumers buy and use all kinds of clothes according to the rapidly changing fashion trends. The fashion sector including designers and textile producers develop new products reflecting consumer needs, while also setting fashion trends. This is why speed is of prior importance these days. Myoungshin Textile (www.myoungshin.com), which is based in Daegu and Chilgok, the textile centers of Korea, produces trendy textiles using exceptional equipment. We met with the company's CEO, Lee Jong-tae, who also vigorously conducts business in Seoul to expand his company's presence.
|Myoungshin Textile CEO Lee Jong-tae Photo by Editor Song Ki-woo|
Myoungshin Textile is a textile-specialized company which produces diverse fabric materials using yarn. It produces 4.5 million meters of fabrics a month for water-proof tents, military uniforms, hiking wear and regular clothes for both males and females. The company is able to produce diverse kinds of textiles fast, because it is the only textile company in the country to have its own complete equipment for producing polyester and nylon.
The textile production process consists of yarn twisting, the beaming of cylinder-shaped twisted yarn, weaving yearn into fabric, and many more steps. For fabrics used to make outdoor wear, there is also a process called "sizing" which starches the clothes. Other textile makers usually outsource each step to other companies, whereas Myoungshin Textile has its own equipment required for the entire process. CEO Lee Jong-tae says that the company "has invested eight billion won over the past two years to buy the production equipment," and that it was able "to increase the percentage of products under Myoungshin's name, and could focus on enhancing the quality of its products through various facilities."
|Myoungshin Textile's large-sized twisting machine Photo provided by Myoungshin Textile|
Myoungshin Textile recently introduced an ERP system to boost the accuracy and speed of product production and shipment. Previously, errors sometimes occurred during shipment, as the company has 500-700 kinds of products in its inventories. It was also easy to confuse the fabrics because most of them are white prior to dyeing. CEO Lee Jong-tae says that "thanks to the ERP system, the company can now distinguish and manufacture products in an easier way, as well as enhance work efficiency and productivity."
CEO Lee Jong-tae selects products and devises production plans in advance after surveying market trends and consumer needs. His goal is to directly increase the percentage of transactions. He plans to increase direct transactions with the clients without involving intermediary brokers, the 'local sellers', as was in the case in the past. “I meet with buyers at least once a month to hold consultations and from their results choose the most competitive products for manufacturing," says CEO Lee Jong-tae. Rather than just receiving orders and producing textiles, Myoungshin makes sure to read fashion trends and meet client demands.
Myoungshin Textile is focusing on establishing a presence in the Abaya fabric market of the Middle East. Abaya, a type of Hijab, is usually black. Customers who buy Abaya fabrics focus more on the texture rather than the color. CEO Lee Jong-tae says that Myoungshin has an upper hand in this respect, because it has vast experience in producing and processing diverse kinds of fabrics. “My goal is to hold more direct transactions under the name of Myoungshin Textile, and establish a solid presence in the Middle East with a 100-percent factory utilization rate." says CEO Lee Jong-tae.
Editors Shin Jae-un (email@example.com), Song Ki-woo