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The Present Condition of the Textile Machinery Industry in Korea

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Although the percentage of domestic sales has decreased due to the stagnation of the textile and clothes industry, export(2005) has increased by 13% compared to last year and has resulted in earnings of 1315 million dollars.

Clearly, 53% of exported products are distributed over Asia, and 35% goes to China. There is no doubt that the importance of the China market has dramatically increased. Because China is a strong player in the textile industry, they naturally have a large influence with regards to technique exchange, joint venture and investment opportunities, competitiveness, and most importantly, their relationship with other countries that also play an important role in the industry.

There are about 630 companies and 11,000 employees in the Korea textile industry, which makes up approximately 1.7% of the total machinery industry. The Korea textile machinery industry set up a target of 2 billion dollars of export profit and has put a strong focus on technique development and international marketing activities.

The CITME2006 will be held from October 17th to October 21st and organized at the International Hall. 18 exhibitors will be participating. This event has already created much excitement among potential visitors due to interest in the display of high speed automatic machines that will demonstrate great productivity and produce unique products.

Hereafter, the Korean textile machinery industry will focus on strengthening the information interchange with other countries as well as supply the advanced technologies to domestic and international players.

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