Message from Ohyoung Inc. on COVID-19
March. 27, 2020
To our Ohyoung Community,
First of all, we hope you, your families, and colleagues are all fine after the devastating
COVID-19 epidemy. Your health and safety are now the first concern at this moment. The
COVID-19 pandemic brought many changes ?in our life and works. Ohyoung is doing all
efforts on how to best protect and support our families, employees, customers, and
communities in the face of this unfolding crisis. On behalf of all Ohyoung family, I’m writing
to share how Ohyoung is responding to what is clearly an unprecedented social challenge.
On March 25, the number of new coronavirus cases reported in Korea fell to less than
100 for the fourth day in a row, a figure markedly down from the peak 909 new cases
reported on February 29. It was achieved from rigorous investigation of outbreak clusters
and rapidly scaled testing capabilities limited spread. Economic activity is operating normal
and the Korean government is not planning a lockdown or a similar restriction action.
Estimated degree of impacts on Apparel/Fashion industry (Market point of view)
In the United States and Europe, a major fashion companies’ off-line shops have been
closed by governments’ administrative order. According to Bloomberg news, the amount of
fashion items to be accumulated for two months in March and April is expected to reach
USD 150 billion. Right now fashion companies are canceling the scheduled production
orders. According to McKinsey report, the demand for apparel is expected to drop down until
the second quarter, and it is expected that consumption will return from the third quarter. We
deeply understand the challenges that our customers would face and we will do our best to
Our Production and Operation
Ohyoung’s activities are operating as usual only except oversea customer visit and
fortunately we have no damage on our production running so far. We also can not see any
negative signal of shortage or price increase in the raw materials yet and as you know,
Chinese producers appears to recover their normal production before Covid-19 epidemy.
However, India just decided to stop industrial production for 3 weeks and we’re carefully
looking at an impact on market supply. Most of all, we will do our best to keep consistent
and stable supply to our customers and if we see any of market change, we will keep closely
communicate with you.
Keeping You Connected & Customer Service
In accordance with the guidelines of WHO and local authorities, we have decided to limit
external visitors at our sites and to refrain from face-to-face meetings, and overseas
business trip as well. In order to ensure that our community stays connected and carry on
customer service, we now suggest enhancing our digital capacity to engage with local
partners, and ready to replace our customer service with web & mobile conferencing with
skype or zoom. The detail process will be discussed by sales part.
As we always say to you, our business mission is to make our customers’ business
stronger and more competitive with our product and service ultimately. We believe that we
can overcome this crisis by close cooperating each other and if we can survive, we’re sure
that market will compensate on that in the long term. Our staffs are available on your side
and don’t hesitate to discuss any questions or concerns you have.
Above all, stay safe and healthy, Keep in close touch with you.
President / Ohyoung Inc.