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Impact of Quota Elimination in 2005 on Korea`s Textile & Apparel Industry and a Confrontational Strategy
2004-12-31
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author : Park Hoon (Leading Industries Division)
1. Introduction
The external dependency of Korea’s textile and apparel industry has risen since 1990. This dependency, which used to be 43.1% in 1990, jumped to 51.2% in 1995 and still more to 52.7% in 2000. Examining the industry’s external dependency by field, fabrics recorded a high level of 58.1%, and apparels and yarns showed 55.2% and 54.8%, respectively, in 2000.
Korea’s textile and apparel industry’s export ratio, the proportion of exports to the total production amount of the industry, has displayed a continuous rising tendency. The industry’s export ratio surged from 37.8% in 1990 to 43.9% in 1995 and 45.6% in 2000.
As the external dependency of Korea’s textile and apparel industry has grown, the industry has become very sensitive to fluctuations in world economic and trade environments......
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