South Korea's textile market will grow at 4.2% in 2013

The Korea Textile Industry Federation (KOFOTI) reported that South Korea’s textile market will experience relatively slow growth in the first half of 2013 after a few years of high growth. However, the Korean fashion market is forecast to grow by 8.3%. The jacket and sportswear market will continue to increase revenue. In the second half of 2012, the underwear and children's wear market will continue to grow.

On the other hand, accessories, including shoes and bags, constitute 4.8% of the total profit, and the output value will reach 37.6381 trillion won.

The growth rate forecast for 2012 will reach 3.6%, but in 2013, the Korean textile market is forecast to grow at a rate of 4.2%.

However, the market and participants should understand that the prices and wages of raw materials will gradually increase, as well as potential seasonal fluctuations, which may affect sales and trade.

At present, South Korea's textile market has experienced four uncertainties: sluggish sales, soaring prices, and cumulative losses in market saturation. In the same way, compared with the environment, we cannot understand the changes. Optimism will lead to positive prospects and growth.