Aspiring fashion designers compete for a chance to break into the industry. Each week, a designer is eliminated from the competition after exhibiting their work in front of a judges' panel.

Project Runway Korea is the Korean version of the American reality show Project Runway. It is Korean television's first localized franchise from a foreign-language reality competition, and the third Project Runway version in Asia after Malaysia and the Philippines. The winner of Project Runway Korea's first season received ₩50 million in prize money, along with a car and a fashion spread in Elle Korea; the second season increased the prize money to ₩70 million.