Seoul: The government has announced a significant financial initiative to bolster the global competitiveness of South Korea's textile and fashion industries. This year, 24 billion won (US$16.5 million) will be allocated to projects aimed at enhancing these sectors, as international interest in Korean culture continues to rise.

According to Yonhap News Agency, the Ministry of Trade, Industry and Resources outlined how the funds will be distributed. A total of 3.85 billion won will go towards export support and the production of high value-added textile materials. Additionally, 4.6 billion won is earmarked for projects focused on developing global K-fashion brands. Another 8.16 billion won will be invested in the digital transition of the sector.

The ministry emphasized its commitment to supporting the Korean fashion industry in its efforts to expand its global footprint, aligning with the increasing popularity of Korean culture around the world.