Towards world¡¯s top velvet specialist and cultural endorser

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¡ã Chairwoman Ryu Byung-sun

Velvet is a fabric used widely for clothes, sofas, carpets and curtains. It is thermal, insulating, absorptive and abrasion durable. It was one of the materials of the costumes worn by royal families in the 14th century Europe and the bourgeoisie in the dawn of the capitalism as well as the normal people after the 19th century. But that does not mean it is worn daily by people today since it has luxurious impressions. 

Youngdo Velvet is the leader of the Korean velvet manufacturers. The history of the company goes as far back as the history of the Korean velvet industry and the chairwoman Ryu Byung-sun has led the business under her principles ‘sincerity’ and ‘value management’.

Lee Won-hwa (deceased) founded Youngdo Fabrics 59 years ago and achieved a USD$10M Export Tower in 1988 and built the world’s largest velvet factory in the Korea Industrial Complex Corporation Gumi in 1995. 

“Velvet was worn by the rich and it was difficult to care. It was our intention to break this prejudice and we have grown much today through our new level of velvet productions” says Ryu Byung-sun, the chairwoman of Youngdo Velvet. 

In 2012, Youngdo Velvet opened ‘Youngdo Dawum’ in Samdeog-dong, Jung District, Daegu City. It is a 3 story 1 basement building sized 4,297 square meter in total. Deagu Seomun Market has been one of the three markets since the Jonseon Kingdom and the city has been the center of the fabric and fashion industries. The word ‘dawum’ is a suffix in Korean used such as ‘ly’ as in ‘beautifully’ in English. 

Youngdo Dawum displays various product lines from beddings to clothes and bags and it also has training halls and gallery. People home and abroad pay a visit every moth and look around the shop and the café. Visitors are encouraged to try velvet clothes or traditional Korean costume or read historical information about velvet. 

“Youngdo Dawum is designed to symbolize ‘eagle’, a brand of Youngdo Velvet, meaning that the company flies high like an eagle to the whole world. Youngdo Dawum will play a role to draw tourists and to spread excellence of Korean fabrics to the world” says Ryu.Velvet must be dry-cleaned. Due to the fact that it is heavy and thick, velvet clothes are usually made for autumn and winter. What makes Youngdo Velvet stands out is that the company broke these drawbacks. For example, the company applied micro polyester to velvet that has unique flexibility and repellency. Thanks to this, it has no pressure or wrinkles and can also be washed with water. In other words, the material can be used for jeans, skirts and blouse. 

Currently, the company’s micro velvet is being exported to 40 countries in the world where the company’s 98% of the sales is generated from. Youngdo Velvet’s micro velvet is better called as ‘Three Eagles Velvet’ overseas by big brands like Giorgio Armani, Channel, Christian Dior, Burberry, Anne Klein and Ralph Lauren. Youngdo Velvet listed its name in the World Class Product of Korea in 2006 and achieved USD$30M Export Tower in 2010. 

However, the company is not only famous for velvet but also for ‘rubbing cloth’ used for TFT-LCD processing that needs to make TV and cell phones. Youngdo Velvet succeeded mass production of rubbing cloth in 2003 which normally was dominated by Japan and is supplying the goods to Apple, Sharp and some of the largest display manufacturers in China and Taiwan. 

Youngdo Velvet expanded its business scope by establishing ‘Youngdo Cosmetics’ in 2015 and launched a brand ‘Yeonvia’ meaning ‘fly high to clean nature’. It is made of healthy ingredients and offered at good price in technical cooperation with Cosmax, the largest cosmetic OEM in Korea. Some of the core lines of Yeonvia are Vita-C12 Serum, Soft Milky Essence Sun and Double Power Black Mask. 

On 9 November, 2018, the company hosted the 2018 Youngdo Velvet Fashion & Beauty Contest. Since its introduction in 2012, the event has been held with different themes every year such as velvet Korean costume, men’s wear and men’s velvet. The company also awarded scholarship alongside the Korean Society of Fashion Design through the 7th Fashion Contest in 2017.

The 60 finalists went through the 6 month training at Youngdo Dawum and were appointed as Youngdo Velvet honorary ambassadors who would spread excellence of the Korea fabric industry to the world. 

Meanwhile, Ryu is serving as the first president of the Korean Women Entrepreneurs Association Gyeongbuk and is exerting to promote economic activities of women. “The Korean economic environment is still harsh for women and many of them seem to be unfairly treated. So I feel, as a woman, it is my job to improve the situation.” It is also noteworthy that Ryu founded the Bogwangmyeong Scholarship to help students in need. “I want to grow the company that will last over 200 years and make continuous contribution to advancement of the Korean velvet industry” adds Ryu. 

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