Signs Of Recovery In South Korea's Textile Industry

Korea Trade Association said recently that South Korea Spin The industry expects to export $15 billion 900 million this year and is expected to achieve its best performance since 2001.

At present, the Korean textile industry is gradually getting rid of the development of clothing based products, with "industrial fiber" as the new product. industry increase power Readjust the industrial structure and revitalize the textile industry again. The Federation of Korean fiber industries said that if the ROK free trade agreement came into force, the average textile tax would be reduced by 13.1% (up to 32%), and the competitiveness of Korea's domestic products would be greatly improved, and exports to the United States would also increase.

The Federation of Korean fiber industry also said that thanks to the increase in exports and the increase in output value, the South Korean textile industry will generate 480 billion won economic benefits every year in the next 15 years. The development of new investment and high value added products will create more jobs in Korea.

Based on this, the Federation of Korean fiber industry will release its future development goals, and the export scale will grow to 21 billion US dollars in 2020 and become the fourth largest textile power country in the world. The entire industry will increase the proportion of new fibers from 25% to 60% by improving technical standards.