Prime Minister Chung Hong-won joins other dignitaries in cutting a rice cake 

at a New Year’s meeting at the Korea Textile Center in Samseong-dong, Seoul, 

on Jan. 9. The participants included Vice Minister for Industry and Technology 

Kim Jae-hong of the Ministry of Trade, Industry and Energy (MOTIE); KOFOTI 

Chairman Roh Hee-chan; and Rep. Lee Hyun-jae of Saenury Party, Rep. Suh Sang-ki, 

chairman of the National Assembly Intelligence Committee. (photos: KOFOTIE)

The Korean Federation of Textile Industries (KOFOTI) said the Korean textile and fashion industry is forecast to post $16.48 billion in exports this year, up 3.3 percent over 2013, riding on the effectuation of free trade agreements (FTAs) and an expansion of the Chinese textile market. Figures compiled by KOFOTI showed that the industry saw exports rise 2.3 percent from the previous year, thanks in particular to a rise in textile material orders from Southeast Asian countries.

KOFOTI Chairman Roh Hee-chan gives a speech at a New Year’s 

meeting at the Korea Textile Center.

Roughly 300 people from the local textile and fashion industries, government, and other walks of life assembled at a New Year meeting at the Korea Textile Center in Samseong-dong, Seoul on Jan. 9.

Among the participants were Prime Minister Chung Hong-won; Vice Minister for Industry and Technology Kim Jae-hong of the Ministry of Trade, Industry and Energy (MOTIE); Rep. Suh Sang-ki, chairman of the National Assembly Intelligence Committee; Rep. Lee Wan-young; Rep. Chun soon-ok; Rep. Hong Ui-rak; representatives of textile and fashion organizations; and industry leaders. 

Prime Minister Chung Hong-won delivers a speech 

at a New Year’s meeting at the Korea Textile Center.

KOFOTI Chairman Roh Hee-chan said in his speech, “All of the people in the Korean textile and fashion industry will have to gather their wisdom to help it establish itself as a creative industry to take the lead in the national economy, as the industry that has global standing to rank fourth in terms of technological power and eighth in terms of exports strives to capitalize on the pace of global economic recovery.”

Prime Minister Chung praised the industry’s people for moving to expand textile exports by 2.3 percent despite difficulties that included the shutdown of the Gaeseong Industrial Complex in North Korea. “The industry needs to make more efforts to transform itself into a value-added industry of advanced countries by converging the industry with IT, culture, and other industries, and explore making industrial textiles into future growth engines,” he said. 

In its meeting with MOTIE officials prior to the New Year’s event, the industry called for the government’s support in connection with the Korea-China Free Trade Agreement, now under negotiations. MOTIE Vice Minister Kim said his ministry will strengthen the government’s support to the industry by taking into account the industry’s views on the Korea-China FTA and giving a helping hand to the industry so that it can create high-end brands with a competitive edge.