SEOUL, March 3 (Yonhap) -- Musinsa Co., a South Korean fashion platform, said Friday it has become the first local fashion firm to be included in Fast Company's list of the 10 most innovative companies in the Asia-Pacific region for the current year.
The list has been compiled by the American business magazine every year since 2008. The media outlet selects 50 companies it deems to be "at the forefront of their respective industries" every year, along with 10 innovative companies for each region.
South Korea's Samsung Electronics, e-commerce giant Coupang Inc. and K-pop agency Hybe had previously been named on the list.
The fashion platform came in 10th place in the Asia-Pacific region, along with China-based EV maker BYD Co. and Singapore-based delivery and ride-hailing app Grab.
The outlet cited Musinsa's efforts to nurture local brands and its contribution to spreading K-fashion around the world as the reason behind the nomination.
Musinsa is a South Korean fashion startup that began as an online community for sneaker lovers in 2001. The company has grown into a fashion e-commerce platform, featuring around 7,000 local designer brands, as well as its in-house fashion brand called Musinsa Standard. Its global website, launched in late 2022, is available in 13 countries, including Japan, the United States, Canada and Australia.
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