Vietnamese textile products made up 34.05 per cent of the South Korean market in terms of value in the first three months of 2018, an annual increase of 2.33 per cent, according to statistics from the Korea International Trade Association. These figures helped Vietnam turn the top textile importing country in South Korea (RoK), surpassing China (PRC).
In 2017, South Korean firms invested in 44 textile projects in Vietnam, with a combined registered capital of $178.16 million, according to a Vietnamese news agency report.Vietnamese textile products made up 34.05 per cent of the South Korean market in terms of value in the first three months of 2018, an annual increase of 2.33 per cent, according to statistics from the Korea International Trade Association. These figures helped Vietnam turn the top textile importing country in South Korea (RoK), surpassing China (PRC).#
Trade between the two countries grew by more than 20 per cent annually to reach $64 billion in 2017, said Ahn Seong Ho, trade counsellor at the South Korean consulate general in Ho Chi Minh City.
The Vietnam-Korea Free Trade Agreement (VKFTA) will also come into effect soon, opening up more opportunities for bilateral trade. (DS)
Fibre2Fashion News Desk – India
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