Turning to Arirang now, Seoul Fashion Week has pulled back the curtain and set up the catwalk for its 2016 Fall-Winter show. But behind all the glitz and glamour, the local fashion industry has lost some of its luster in recent years. Kim Min-ji has the details.
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Hera Seoul Fashion Week
Through March 26, Dongdaemun Design Plaza

Korean designers will be presenting their latest collections at the Hera Seoul Fashion Week as they look to make a splash and win over global buyers.

[REPORTER]
Kim Min-ji
And this year, up and coming designers also have the chance to present their work, thanks to relaxed rules that open doors to more participants.

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Move aimed at increasing participation among new designers

Previously, designers were required to own a private brand for at least five years,... but now the criteria has been lowered to just one year -- as the local industry aims to expand the arena for hard working designers who are looking to get off the ground.

Designer Kim Su-jinn, whose professional career has lasted for almost a decade now,... says perseverance is key.

[Interview]
Kim Su-jinn / Designer, SoulPot Studio
(Korean)
"Despite starting with very little money, I would work during the day and make clothes overnight. For me, it was about keeping my pace. I didn't compare myself with other designers. I felt it was important to find the way that was right for me and take steps accordingly."

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More Korean designers taking part in intl. fashion shows

More and more Korean designers have made inroads into overseas markets as well as taking part in internationally renowned fashion weeks.
Designer Lee Ji-youn, who was recently in New York, says Korean designers are getting more recognition and it's important that they are willing to accept change.

[Interview ]
Lee Ji-youn / Designer, Jarrett
(Korean)
"Fashion trends now circulate worldwide, so it's important not to pursue Korean traditional styles. Of course, we need to have our own style, but we also need to accept diversity."

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Local fashion market in slump

But behind the perfect looks and dazzle of these designers,... the local fashion industry has been in the shade,... facing slowdown in the local economy and growing competition from overseas brands.

In recent years,... more than two dozen fashion labels have gone out of business or filed for bankruptcy.

Big names have been no exception.

The country's leading fashion companies saw their operating profit fall significantly in 2015 from a year ago.

[Interview]
Rupert Lee / Korea Fashion Association
(Korean)
"Fashion companies in Korea tend to lack communication with consumers. Fashion trends no longer go from one country to another. Companies need to get out there and set new trends as well as keep up with trends that consumers are pursuing."

[CAMERA]
Lim Hyun-jung

Experts say that although prospects for the the local fashion industry aren't so rosy, aggressive marketing and more research into consumer and street trends could help Korea's designers get far... especially if they are able to hitch a ride on the popularity of Hallyu, or the Korean wave.

Kim Min-ji, Arirang News.