The South Korean stock market opened lower on the morning of December 4, with the KOSPI index at 2,450.76 points, down 1.97% from the previous trading day.
South Korean President Yoon Seok-yeol announced the imposition of "emergency martial law" on the night of the 3, South Korean financial markets were violently shaken, and the exchange rate of the won fell rapidly against the dollar, at one point to 1,446 won per dollar, the lowest in more than 15 years. Reporter Zhu Hongyu: The "emergency martial law" announcement itself has a negative impact on investor psychology, especially foreign investors account for about 30% of the South Korean stock market, today after the opening of foreign investors net selling of more than 260 billion won, this phenomenon will accelerate the decline of South Korean stock prices; On the other hand, the "emergency martial law" may also have an adverse impact on South Korea's national credit rating and cause further downward pressure on the stock and foreign exchange markets. It is reported that the Korean textile market is not optimistic in the near future.
"Korean Wave" encountered "cold current"!
Profits of many textile companies plunged by more than 30%
Recently, South Korea's major clothing companies have released the third quarter results report, the overall performance is poor. The operating profit of many clothing enterprises fell more than 30% year on year, what is the reason for the decline in performance?
Liu Zheng, special correspondent of Financial Channel: These two days, including Samsung C&T in the South Korean apparel market share of the top four companies released the third quarter results report, one company operating loss increased by 50% compared with the same period last year, and several other operating profit decreased by more than 30% compared with the same period last year.
South Korea's traditional clothing enterprises as a whole downturn, the old production and marketing model of the current situation has caused the industry to reflect. From the production point of view, many clothing companies still continue to make the next season's new products in advance and a large number of stock traditional mode. However, this year, the high temperature and long duration of the summer in South Korea, the autumn almost "disappeared", the result of slow sales of autumn clothing, inventory backlog.
From the sales point of view, South Korea's major clothing companies over-rely on offline physical stores, but young consumers are more inclined to online shopping. With the rise of online clothing brands, traditional clothing enterprises are facing severe challenges. In order to reverse the decline, South Korea's major clothing companies are exploring new production and marketing models.
For example, the use of artificial intelligence, big data and other technologies to quickly capture consumer interest changes and purchasing habits, predict what kind of material, color, style will become popular trends, provide designers with reference solutions, assist the rapid development of new products.
Optimize total production, reduce inventory and reduce costs. In addition, some companies began to adopt a rapid response strategy, that is, a small number of new products are produced and listed, and then decide whether to make up orders according to market feedback, and flexibly respond to market changes.
In order to attract young consumer groups, South Korean traditional clothing companies have launched individual designer brand incubation projects to provide more opportunities for new designers, but also to inject fresh vitality and creativity into the enterprise, and some companies also cooperate with well-known cartoon characters to produce co-branded products.
At the same time, the establishment of pop-up stores in major business districts to promote the brand not only provides a unique interactive experience for young consumers, but also enhances the brand identity of old customers.
In addition, South Korean clothing companies are also increasing social media promotion and sales through live broadcasting and other ways. However, whether these measures can effectively improve performance remains to be verified by time and the market.
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