Yesterday, Waltonchain (WTC) announced it partnered with Dongdaemun Fashion Town, one of Asia’s largest fashion market and the largest fashion district in South Korea. The partnership will signal Waltonchain’s maiden execution of Blockchain and RFID Solution in South Korea.
In an announcement today, it was revealed that the chairman of Dongdaemun Fashion Town Tourism Zone, Mr. Hong Seokgi, CEO of DDM International, Mr. Lee Jongseon , and Waltonchain CEO Mr. Mo Bing signed a blockchain Memorandum of Understanding on the implementation of blockchain technology and the commercialization of Waltonchain (WTC) RFID chip in the Fashion district.
The three firms are to work as one in enhancing the implementation and development of Waltonchain blockchain and RFID technology in areas like customer services, store management and retail distribution.
Being the largest fashion town in South Korea, Dongdaemun Fashion Town has cultural space, wholesales stores and individual stores.
Dongdaemun is branded the most respected and popular fashion town in South Korea, having over 35,000 stores, 8+ million foreign visitors annually, and more than 1 million daily visitors. Businesses in the town generates over KRW 50 billion daily sales, an advantage that places Dongdaemun atop of other Asian fashion markets.
Speaking on the development, the chairman of Dongdaemun Fashion Town Tourism Zone, Mr. Hong Seokgi said, the implementation of the technology will heighten the retail and logistics system of the town, adding that it is a great development for the district.