Sustainable Start-ups on a Rise in South Korea
South Korea, is a country of amazing food and innovative fashion but not just that. The high level of education and investment in innovation make Korea a great country for entrepreneurs. It’s one of the most developed countries in terms of innovation and it’s clear that South Korea supports its entrepreneurs more than other countries, making it a very business and start-up-friendly place.
Photo: @yukato
With that said, South Korean fashion startups may expect a good 2023. Last year fashion companies registered record-high turnovers despite the unstable economic market in the country. Investors are showing big interest in innovative startups, with extra focus on those in recycling, sustainability and eco-fashion. Meanwhile, we’ve seen many European sustainable fashion start-ups closing down due to cancelled investments and bankruptcy, sustainable start-ups are on the rise in South Korea.
We’re a little extra curious about three start-ups: Mint Members, Yunhoe, and Taylortown. All with good investments, hope and trust from curious investors. Let’s dig in more to see what these three companies are offering.
Mint Members - Has launched a service called Mint House, providing care for premium sneakers and fashion items. Last November, it launched the official service and got 20 000 downloads in just three months. They also recently decided to provide concierge services for apartments making the service available for households and offices all around the country. See more on their Instagram page.
Photo: Mint House
Yunhoe - Has created a circulation fashion platform service called MNTC. It authenticates clothing and tracks, manages it from the production stage, and can continuously resell it. Yunhoe’s start-up aims to popularise circular fashion and provide convenience so that more people can participate in a sustainable fashion consumption culture.
Photo: MNTC
Taylortown - Has created a service called Danble. A fashion curation commerce for men in their 30s and 40s, providing service by helping them choose clothing in their own unique styles and sizes. The number of monthly active users exceeded 35 000 in January this year.
Photo: Danble