ShinWon Corp , Retraced partner for global supply chain transparency
ShinWon, a South Korean company, has partnered with Retraced to enhance transparency and ethical responsibility within its fashion supply chain. The collaboration utilizes Retraced s blockchain-based IT platform to provide end-to-end visibility from raw cotton sourcing to the final product. ShinWon has also established a dedicated team to strengthen supply chain management and ensure compliance with relevant laws and ethical standards. The company has implemented a detection algorithm to monitor cotton usage transparently, extracting relevant keywords from data backup. This technology enables transparent tracking of production processes. ShinWon s representative emphasized the importance of managing the supply chain with information transparency and upholding corporate ethical responsibility. In response to growing global demands for human rights, labor protection, and environmental sustainability, the textile and fashion industries are under increasing pressure to improve transparency and ethical practices. South Korean companies, like ShinWon, are expected to comply with stricter environmental regulations and respect international human rights standards. ShinWon s efforts have earned recognition from the Sustainable Fashion Initiative (SFI), which praised the company for its supply chain optimization and logistics efficiency. The company aims to further enhance its global competitiveness by aligning with international market standards and accelerating full-scale Environmental, Social, and Governance (ESG) management. In June, ShinWon announced its use of big data and technology to predict fashion trends, improve market insights, and meet evolving consumer demands. The company s commitment to transparency, ethical responsibility, and sustainability is expected to enhance consumer trust and maintain its competitive edge in the global fashion industry. GlobalData offers comprehensive company profiles powered by its market-leading platform, providing businesses with valuable insights and competitive advantages. To access a free sample of GlobalData s Company Profiles, submit the form provided on their website.
Source: just-style.comPublished on 2024-09-27
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