Key Takeaways
- In 2022, South Korea's textile production totaled 1.45 million metric tons, with synthetic fibers comprising 78% of the output.
- South Korea produced 1.12 million tons of polyester filament yarn in 2023, marking a 3.2% increase from 2022.
- The output of nylon filament yarn in South Korea reached 185,000 tons in 2022, accounting for 12% of total filament production.
- In 2022, South Korea exported textiles and apparel worth $14.2 billion, a 2.1% rise from 2021.
- Polyester yarn exports from South Korea reached $2.8 billion in 2023.
- Apparel exports totaled $10.5 billion in 2022, with USA as top destination at 28%.
- South Korea imported $8.7 billion in raw materials for textiles in 2022.
- Cotton imports totaled 450,000 tons valued at $2.1 billion in 2023.
- Synthetic fiber imports reached $3.5 billion in 2022.
- South Korea's textile industry employed 145,000 workers in 2022.
- Apparel manufacturing sector had 78,000 employees in 2023.
- Fiber production employed 32,000 workers in 2022.
- Textile industry revenue reached KRW 45 trillion in 2022.
- Export revenue contributed 65% or KRW 29 trillion in 2023.
- Domestic market sales KRW 16 trillion in 2022.
South Korea's textile industry is dominated by high-tech synthetic fibers and fabrics.
Employment
- South Korea's textile industry employed 145,000 workers in 2022.
- Apparel manufacturing sector had 78,000 employees in 2023.
- Fiber production employed 32,000 workers in 2022.
- Fabric manufacturing workforce totaled 45,000 in 2023.
- Average monthly wage in textile industry was KRW 3.2 million in 2022.
- Female workers comprised 58% of textile employment in 2023.
- Youth employment (under 30) in textiles was 22% or 32,000 in 2022.
- R&D personnel in textile firms numbered 12,500 in 2023.
- Labor productivity per worker reached KRW 450 million in 2022.
- Turnover rate in textile industry was 8.5% in 2023.
- Overseas Korean textile workers totaled 15,000 in 2022.
- Training programs trained 25,000 textile workers in 2023.
- SMEs employed 92% of textile workforce (133,000) in 2022.
- Large firms (over 300 workers) had 12,000 employees in 2023.
- Gyeonggi province hosted 45% of textile jobs (65,000) in 2022.
- Chungcheong region employment 28,000 textile workers 2023.
- Jeolla province 18,000 textile employees in 2022.
- Part-time workers 15% of total (22,000) in 2023.
- Unionized workers 18% or 26,000 in textile sector 2022.
- Accident rate per 1,000 workers was 2.1 in 2023.
- Average age of textile workers 45.2 years in 2022.
- Vocational high school graduates in textiles 4,500 annually 2023.
- University textile majors enrolled 8,200 students in 2022.
- Foreign workers in textiles 12,000 (8%) in 2023.
- Disability employment quota met at 3.2% (4,600) in 2022.
- Overtime hours averaged 28 per month per worker 2023.
Employment Interpretation
Exports
- In 2022, South Korea exported textiles and apparel worth $14.2 billion, a 2.1% rise from 2021.
- Polyester yarn exports from South Korea reached $2.8 billion in 2023.
- Apparel exports totaled $10.5 billion in 2022, with USA as top destination at 28%.
- Synthetic fabric exports hit $3.1 billion in 2023.
- Knitwear exports from South Korea were $4.2 billion in 2022.
- Woven apparel exports amounted to $3.8 billion in 2023.
- Technical textiles exports grew to $1.9 billion in 2022.
- Vietnam received 35% of South Korea's textile exports worth $5.0 billion in 2023.
- China imported $2.4 billion in Korean textiles in 2022.
- EU markets took $2.1 billion of Korean apparel exports in 2023.
- Sportswear exports reached $2.7 billion in 2022.
- Home textiles exports totaled $850 million in 2023.
- Automotive textiles exports hit $650 million in 2022.
- Medical textiles exports grew 15% to $420 million in 2023.
- Socks exports from South Korea were $1.1 billion in 2022.
- Underwear exports amounted to $950 million in 2023.
- Japan imported $1.2 billion Korean textiles in 2022.
- Bangladesh sourced $750 million in yarn from Korea in 2023.
- USA apparel imports from Korea hit $3.0 billion in 2022.
- EU technical textiles from Korea totaled $550 million in 2023.
- Vietnam knitwear imports $1.8 billion from Korea in 2022.
- China synthetic fiber imports $1.5 billion in 2023.
- Indonesia received $600 million Korean fabrics in 2022.
- Philippines apparel imports $450 million from Korea 2023.
- Turkey yarn imports $350 million from Korea in 2022.
- India technical textiles $280 million from Korea 2023.
- Canada sportswear $220 million Korean exports 2022.
- Australia home textiles $180 million from Korea 2023.
- Russia automotive textiles $150 million Korean 2022.
- UAE medical textiles $120 million from Korea 2023.
- Mexico socks $95 million Korean exports 2022.
- Brazil underwear $85 million from Korea 2023.
- UK hats $75 million Korean exports 2022.
Exports Interpretation
Financial and Market
- Textile industry revenue reached KRW 45 trillion in 2022.
- Export revenue contributed 65% or KRW 29 trillion in 2023.
- Domestic market sales KRW 16 trillion in 2022.
- Profit margin average 4.2% for textile firms in 2023.
- R&D investment totaled KRW 1.8 trillion in 2022.
- Capital investment KRW 3.2 trillion in new plants 2023.
- Number of textile firms 5,200 in 2022.
- Top 10 firms revenue KRW 22 trillion (49%) in 2023.
- SMEs revenue KRW 23 trillion in 2022.
- Market cap of listed textile firms KRW 15 trillion 2023.
- Debt ratio average 180% for industry in 2022.
- Inventory turnover 4.8 times per year in 2023.
- E-commerce sales in textiles KRW 2.5 trillion 2022.
- Brand value of Korean textiles $12 billion in 2023.
- Sustainability investments KRW 850 billion in 2022.
- Government subsidies KRW 450 billion for textiles 2023.
- Patent filings 2,150 in textile tech 2022.
- Venture capital in textiles KRW 320 billion 2023.
- Stock price index for textiles up 5.2% in 2022.
- ROE average 6.1% for textile companies 2023.
- EBITDA margin 7.8% industry average 2022.
- Tax revenue from textiles KRW 1.2 trillion 2023.
- Insurance premiums for textile firms KRW 180 billion 2022.
- CSR spending KRW 250 billion by industry 2023.
Financial and Market Interpretation
Imports
- South Korea imported $8.7 billion in raw materials for textiles in 2022.
- Cotton imports totaled 450,000 tons valued at $2.1 billion in 2023.
- Synthetic fiber imports reached $3.5 billion in 2022.
- Wool imports were 25,000 tons worth $450 million in 2023.
- Machinery for textile production imports hit $1.2 billion in 2022.
- Chemical dyes and auxiliaries imports totaled $950 million in 2023.
- China supplied 62% of South Korea's textile raw material imports in 2022.
- USA cotton exports to Korea $1.1 billion in 2023.
- India provided 180,000 tons of cotton to Korea in 2022.
- Australia wool imports to Korea 15,000 tons in 2023.
- Japan machinery imports $450 million to Korea 2022.
- Germany dyes imports $320 million to Korea 2023.
- Vietnam synthetic staple fiber 120,000 tons imported 2022.
- Indonesia viscose imports to Korea 45,000 tons 2023.
- Brazil cotton 80,000 tons to Korea 2022.
- USA polyester chips $650 million to Korea 2023.
- Taiwan nylon filament 35,000 tons imported 2022.
- Thailand spandex 12,000 tons to Korea 2023.
- EU technical yarns $280 million imports 2022.
- Pakistan raw cotton 95,000 tons to Korea 2023.
- Turkey woolen yarns $150 million to Korea 2022.
- China acrylic fiber 75,000 tons imported 2023.
- Italy dyeing machines $180 million to Korea 2022.
- Malaysia palm oil based chemicals $120 million imports 2023.
Imports Interpretation
Production and Output
- In 2022, South Korea's textile production totaled 1.45 million metric tons, with synthetic fibers comprising 78% of the output.
- South Korea produced 1.12 million tons of polyester filament yarn in 2023, marking a 3.2% increase from 2022.
- The output of nylon filament yarn in South Korea reached 185,000 tons in 2022, accounting for 12% of total filament production.
- In 2023, acrylic staple fiber production in South Korea was 142,000 tons, down 1.5% year-over-year due to market shifts.
- South Korea's woven fabric production volume stood at 920 million square meters in 2022.
- Knitted fabric output in South Korea hit 1.28 billion square meters in 2023, with polyester knits at 65% share.
- Apparel production in South Korea totaled 450 million units in 2022, primarily functional sportswear.
- Technical textiles production grew to 350,000 tons in 2023, representing 24% of total textile output.
- Cotton yarn production in South Korea was 45,000 tons in 2022, a 5% decline from previous year.
- Spandex fiber output reached 28,000 tons in 2023, up 4.8% driven by athleisure demand.
- Nonwoven fabric production in South Korea amounted to 210,000 tons in 2022.
- Polyester staple fiber production was 320,000 tons in 2023, with 40% for export.
- Wool fabric output stood at 12 million square meters in 2022.
- Denim fabric production reached 85 million meters in 2023.
- Home textile production volume was 150 million units in 2022.
- Automotive textile output grew to 95,000 tons in 2023.
- Medical textile production hit 45,000 tons in 2022, boosted by PPE demand.
- Rayon filament yarn production was 18,000 tons in 2023.
- Viscose staple fiber output totaled 25,000 tons in 2022.
- Linen fabric production reached 8 million meters in 2023.
- Silk yarn production was 1,200 tons in 2022.
- Carpet and rug output stood at 22 million square meters in 2023.
- Towel production volume was 120 million units in 2022.
- Curtain fabric output reached 45 million meters in 2023.
- Bedding production totaled 35 million sets in 2022.
- Sportswear garment output was 180 million pieces in 2023.
- Underwear production hit 250 million units in 2022.
- Socks output reached 1.2 billion pairs in 2023.
- Gloves production volume was 450 million pairs in 2022.
- Hat and cap production totaled 80 million units in 2023.
Production and Output Interpretation
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