What: The Korean department store promotes national brands expansion.

Why is that important: This kind of activity boosts the retailer brand name and allows to generate additional revenues.

Shinsegae Group, a South Korean retail conglomerate, has launched a wholesale platform, "Kfashion82," for South Korean fashion brands.

The platform is part of Shinsegae's effort to boost the global K-fashion market and nurture talented designers. Kfashion82, which supports multiple languages and hosts over 100 domestic brands, aims to increase South Korea's fashion exports, which reached $345.6 million in 2022. The platform will officially launch on May 31, partnering with experienced logistics agencies for worldwide distribution.

Depending on sales performance, interest-free funds of up to 100 million won ($75,642) may be available to domestic companies. The platform utilizes an escrow-based payment system for secure transactions.

Shinsegae launches wholesale platform for Korean brands