Vietnam’s apparel industry has high hopes from Korean market

According to the Vietnam Textile and Apparel Association, orders from major markets such as the US, EU and Japan have experienced a slump which has made the country’s textile and garment industry turn with high expectations to the Korean market.

According to the Vietnam Textile and Apparel Association, orders from major markets such as the US, EU and Japan have experienced a slump which has made the country’s textile and garment industry turn with high expectations to the Korean market.

Workers at an apparel company. (Photo: SGGP)
Workers at an apparel company. (Photo: SGGP)

Export figures show that garment and textile turnover to Korea reached US$904 million in 2011, the highest compared to previous years.

The association said that Vietnamese firms should focus on high-grade market segmentation to develop the diversity of consumer demand of Korean teenagers.

Currently, there are 450 Korean firms investing in Vietnam’s textile and garment industry with total investment of $1.8 billion, making Korea one of the biggest investors in Vietnam.

With these advantages, Vietnam’s textile and garment export turnover to Korea could top $1 billion this year.

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