SOUTH KOREA: Asia’s Fibre Industry Starts Slashing Production
Industry sources on Monday revealed major fibre makers in Asian countries such as South Korea, Japan and Taiwan are slashing production levels in the wake of falling demand triggered by the global economic slowdown. Fibre manufacturers in South Korea have already cut production rates by 30 per cent claim bosses of the Korea Chemical Fibre Association (KCFA), while firms in Japan and Taiwan are reported to have made similar cutbacks.