Korea's Share In China's Textile Market Shrinks
Korean enterprises in China
textile
Market share has declined since 2000s.
According to the issue published by the Institute of industrial economics and trade (KIET),
The Republic of Korea
The report on the textile industry's response to changing China's industrial environment and strategy shows that the market share of the Korean textile industry in China dropped from 20% in 2000 to 12.8% in 2009, ranking third, after Japan and Taiwan.
The report explained: "in 1990s, Taiwan, Japan, Hongkong and South Korea occupied most of the Chinese textile market.
However, in addition to Hongkong, the market share of three other countries and regions showed a downward trend in 2000s.
2006 Korean textiles to China
Exit
It accounts for 21.6% of total exports, but it dropped to 19.6% last year.
The direct investment of textile industry in China dropped from US $278 million in 2005 to US $61 million last year.
Industry Research Institute also predicted: "China is the largest market for textile exports in South Korea, and the highest return on investment market."
However, as more global companies enter China, competition will become more intense. Korean textile companies will ensure greater market share. "
The industry research institute also pointed out that China is rapidly improving its product quality and catching up with Korea Companies rapidly. Therefore, Korea Companies is more necessary to develop high value-added products to survive the hard time of survival.
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