The market is dominated by domestic suppliers, as imports account for 35.2% of total market size in 2023. Households drive market demand, with household spending representing 71.2% of total demand in 2023. South Korea has the fourth largest market size for apparel regionally, with demand reaching USD32.5 billion in 2023. LF Corp is the largest company in South Korea, generating 7.4% of the industry’s total production value in 2023. The industry is fragmented, with the top four companies generating 26.9% of total production value in 2023. The total number of companies decreases in 2023, to 38,348 units. The costs of the industry increase by 1.6% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 14.2% of production value in 2023, the 12th highest regionally. The industry’s exports share decreases in 2023 to 8.9% of total production output. With production value of USD16.0 billion, South Korea accounts for 2.6% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Apparel in South Korea: ISIC 181. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Apparel in South Korea: ISIC 181 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of cordage, rope, twine and netting, finishing of textiles, made-up textile articles, spinning of textile fibers; weaving of textiles, tanning and dressing of leather, and technical textiles, labels, badges and other textile products.
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