South Korea Intends To Boost Textile Exports
On the 11 th, South Korea revealed a plan to boost the textile industry again and strive to become a 9 year old.
According to the new plan, the Korean government intends to boost the export volume of the textile industry by an annual increase of 51%, reaching 21 billion US dollars in 2020, and the output value of the Korean textile industry will reach 56 trillion won, up 47.4% from the 38 trillion won in 2010.
The statement was made by the Ministry of knowledge economy of Korea on the anniversary of the twenty-fourth textile day. The textile day began in 1987 to commemorate the export of the Korean textile industry over 10 billion dollars. This is the first industrial sector in Korea to achieve such a goal.
Since 1977, South Korea has exported 4 billion 290 million US dollars of textile products, imported from abroad to US $1 billion 260 million.
South Korea's Ministry of knowledge economy revealed that the textile industry's export volume could reach its highest level in 10 years this year, reaching 16 billion US dollars.
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