Chinese And Korean Textile Industry Has Prerequisite For Integrating Resources

In the eyes of South Korean enterprises, the significance of the signing of the FTA is not only to increase the volume of trade between the two countries, but also to integrate resources and expand trade partners with European and American exports.

"We are optimistic about China's future market and we find that more and more companies are paying more and more attention to products. We are willing to set up product quality benchmarks with all those companies that want to do well," Li Yuanyou said.

However,

At the same time, the premise is that China's textile industry must realize this dream.

Chinese enterprises should pay more attention to product quality.

He said: "we are not only the Chinese market, but also the core business development area of the European market.

For European and Chinese markets, we feel that the European market revolves around products and the Chinese market revolves around prices. This is the main difference between them.

The European market attaches great importance to product quality, demanding quality and performance, and becoming a supplier to them. It is very difficult for them to become suppliers.

Therefore, South Korea

The market in Europe is relatively stable.

In China, fabric companies pay too much attention to price.

Most companies are fighting price wars, but they are not particularly concerned about the performance of products.

In addition, too many fabric enterprises are trying to reduce costs, so the overall quality is inferior to that of Europe.

"The Chinese market is in a pition period. Although it is more difficult to reverse the current business climate, we are still looking forward to changes in the Chinese market and willing to grow with the Chinese market."

Li Yuanyou said so.

With the increase of trade volume between China and South Korea, the way of RMB settlement is also valued by the two industries.

The business opportunities brought by Chinese tourists have increased the number of Korean merchants joining the UnionPay card year by year, and the UnionPay card has become the most suitable international card for the ATM in Korea.

To attract Chinese tourists, the South Korean government has actively promoted RMB settlement in addition to further relaxing its visa requirements.

In areas where Chinese tourists are more concentrated, the government strongly guides businessmen to accept RMB settlement.

According to a local media, sales of clothing and cosmetics have doubled since the implementation of the RMB settlement in a well-known department store in South Korea because of the convenience and convenience of Chinese tourists.

For the two countries' textile and garment industry, the expansion of trade scale will also increase the frequency of RMB settlement.

Li Fengjie, chief researcher of the Korea Trade Association International Trade Research Institute, said that the trade between Korea and China was developing rapidly. The use of RMB to settle the two countries brought convenience to the two countries, but also reduced the cost and reduced the risk of foreign exchange.

In the past, the trade settlement between the two countries was mainly based on US dollar, resulting in a double exchange burden, and the settlement amount was also affected by the US dollar exchange rate, which also increased the cost.

At present, China and South Korea have further strengthened their cooperation in the financial field. There is room for further improvement in the proportion of trade settlement between the two countries.