Textile industry is facing a strong competition from countries like China and is to face another tough year of slump.
As apparel purchases are expected to go up this year, industry has a chance to make slow but sure progress along with the economic upturn driven by private consumption.
However, the country has to guard itself against lingering oil prices and growing domestic currency, warns Korea Federation of Textile Industries.
The Federation also alerted on the growing rivalry with emerging markets of China that put up stiff opposition and pose a challenge to exports.
Industry experts advise that as weak manufacturing business conditions of country's textile industry would cause a drop in investments, traditional textiles should focus on developing robust and advanced materials for the manufacturing industry to gain winning edge, and should not stick to consumer industry.
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