Home / Knowledge / News / Textiles / Textile industry overcomes trade crisis
Textile industry overcomes trade crisis
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

Apparel/Garments | On 28th Jul 2017

DuPont launches new stretchable electronic inks, films

DuPont Advanced Materials has announced availability of its newest...

Apparel/Garments | On 28th Jul 2017

Columbia Sportswear posts Q2 2017 net sales of $398.9 mn

Columbia Sportswear Company has recorded net sales of $398.9 million...

Textiles | On 28th Jul 2017

Dickies & Prana to show HeiQ textile products at OR expo

American apparel brands, workwear leader Dickies and activewear brand ...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Awen Delaval

'Natural fibres are appreciated for traditional authenticity'

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

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

news category

Related Categories:

Planning to Take the Leap towards

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

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

Yes No

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

Yes No

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

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