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High demand for ‘Squid Game’ tracksuits cheers S.Korea’s struggling garment sector -Breaking

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© Reuters. A tracksuit inspired by Netflix’s “Squid Game,” is seen in a Seoul clothing factory on October 21st, 2021. This picture was taken on October 21st, 2021. REUTERS/Kim Hong-Ji

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Sangmi Cha and Yeni So

SEOUL (Reuters) – The “Made in Korea” green tracksuits and pink jumpsuits worn by characters in Netflix (NASDAQ:)’s global hit “Squid Game https://www.netflix.com/kr-en/title/81040344” have proven a pre-Halloween bright spot for a South Korean garment industry struggling during the pandemic.

This week saw a 500-square-metre garment factory (598-yards) in Seoul’s Seongbuk District humming. Green and pink threads were flying from stacked spools of serger machines, making loud noises as they raced to fulfill orders.

Kim jinja (54), a factory owner, said that October is a slow month in the sewing industry. However, thanks to Squid Game, Halloween and other events, she was able to get started. “We’re currently making 6,000 teal-green tracksuits, both for children and toddlers.”

Kim estimates that Kim’s annual sales of 1.5 billion won (1.27 million USD) fell to about a third of her previous earnings after the COVID-19 epidemic. Her orders were mostly from Japan, but she was forced to close her business in August and September due to travel restrictions.

Now, she hopes that orders last beyond Halloween. She sees greater chances for renewed exports of “Made in Korea” labels.

The South Korean clothing industry suffered from a decline long before the pandemic. It was also struggling to compete against China, Vietnam and Indonesia due to higher wages.

According to Oh Byung-yeol, chairman of Seoul Fashion Textile Sewing Association, apparel businesses make up 70% or 1,510 out of the 2,144 Seongbuk manufacturing companies.

Seongbuk Mayor Lee Seungro stated that the two years following COVID were a difficult time for local fashion companies. Squid Game has made tracksuits a worldwide sensation and has prompted a surge in domestic orders.

Namdaemun Market was the largest traditional market in Thailand, where stock includes everything from jewellery to kitchenware.

One market vendor said that he didn’t have enough tracksuits for the soaring demands.

Squid Game has been viewed by more than 142,000,000 households since its September 17th debut. According to Netflix (the world’s biggest streaming service), it helped add 4.38M new subscribers.

South Korean small-business owners recognized themselves as the characters in this popular thriller. They are desperate to win $38 Million, which exposes a debt trap all too familiar.

$1 = 1,177.5700 won

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