SOUTH KOREA: Trade Association Recommends Brand Growth
The Association points to difficulties in setting up overseas distribution networks and a lack of experience in international brand marketing as the reason for this low figure. But it says domestic companies should aim to develop their own brands and participate in more exhibitions to expand their markets.
The total number of factories owned the 300 businesses surveyed fell by 20.5 per cent from 2000. This is attributed to the recent economic slump, a decrease in orders and larger numbers of companies moving their factories overseas. A total of 39,845 workers were employed by businesses in the clothing industry, a drop of 25.6 per cent from the year before.
Total garment sales in 2001 came to 22.9 trillion won, a drop of 0.5 per cent on 2000's figures. Of this, 8.1 trillion won was from exports while 14.8 trillion won was from domestic operations.
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