Home / Knowledge / News / Textiles / Korean textile market to grow by 4.2% in 2013

Korean textile market to grow by 4.2% in 2013

01
Sep '12
Korea Federation of Textile Industries (KOFOTI) reported that after several years of high growth, the Korean textile market experienced a relatively slow growth during the first half of 2012. However, the Korean fashion market foresees a positive growth of 8.3%. Outerwear and sportswear markets will continue its increasing revenue, and during the latter half of 2012, a growing interest in the innerwear and children’s clothing markets will augment. 

On the other hand, accessories, including shoes and bags, constitute 4.8% of the total profit, producing 37.6381 trillion KRW.

 
The predicted growth for 2012 is approximately 3.6%, but in 2013, the Korean textile market anticipates a good start with a 4.2% growth.
 
Nonetheless, the markets and their participants should be aware of escalating price of raw materials and wages and also potential seasonal volatility, which may affect the sales and trade.
 
Currently, the Korean textile market is experiencing four uncertainties: stagnant sales, inflated price, market saturation, and accumulated deficit. 
 
Although the surrounding environment cannot be changed immediately, optimism along with pioneering planning will result in a positive outlook and growth.

Korea Federation of Textile Industries (KOFOTI)


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 30th Jul 2021

ILO outlines 3 scenarios for Asian garment sector recovery trajectory

Looking to the post-pandemic period, a new research brief by the...

Pic: Shutterstock

Retail | On 30th Jul 2021

UK retail sales up 0.5% MoM in June; clothing store sales down 4.7%

Retail sales volumes in the UK increased by 0.5 per cent in June 2021 ...

Pic: Shutterstock

Textiles | On 30th Jul 2021

Prime Content| Here's why global cotton trade will rise in July-Dec 2021

Global cotton trade is expected to rise in the coming months of 2021...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Tony Naschberger,

Tony Naschberger

With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

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

Leave your Comments


July 2021

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


Advanced Search