Home / Knowledge / News / Textiles / Textile industry overcomes trade crisis
Textile industry overcomes trade crisis
16
Jan '08
The textile industry of South Korea, which also promises to be the paramount export sector for the country, is aiming for a revival backed by high-tech products, mainly including medical fabrics.

The endeavor to revolutionize production process and adaptation to value added products is greatly backed by the Government.

Development of technologies to advance future textile markets would largely emphasize on smart textiles, medical textiles and nano-composite textiles.

The Ministry of Commerce, Industry and Energy (MOCIE) stated that in 2007, South Korea exported textile goods worth US $13.5 billion which marked an increase of 2.3 percent compared to the year before.

Of late, the textile sector of South Korea was hit hard because of two major reasons namely; stiff competition with developing economies like China and the liberalization of textile trade in 2005.

However, the country did take a long time to recuperate from the trauma and this can be evidenced from its last year's trade reports. Trade surplus in 2007, can largely be credited to factors like expiry of oversupply and price-cutting competition, expansion in the production of high-value added goods, fortification of overseas marketing and implementation of the free trade agreement (FTA) with the US.

Experts predict that textile goods will see a rise of 1.6 percent to reach 13.8 billion. Further, the inter-Korean economic project in the Gaeseong Industrial Complex would also help in expanding production and increasing exports.


Must ReadView All

AAFA hails passage of Miscellaneous Tariff Bill in US House

Apparel/Garments | On 24th Jan 2018

AAFA hails passage of Miscellaneous Tariff Bill in US House

The American Apparel & Footwear Association (AAFA) has applauded the...

India’s yarn, fabrics, made-ups imports rise 20% in Dec

Textiles | On 24th Jan 2018

India’s yarn, fabrics, made-ups imports rise 20% in Dec

India’s imports of yarn, fabrics and made-up articles during December ...

India’s Liberty Shoes plans adding 50 stores by 2019

Apparel/Garments | On 24th Jan 2018

India’s Liberty Shoes plans adding 50 stores by 2019

Indian footwear major Liberty Shoes is preparing to open about 50...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search