South Korea Cotton Market

The 2018-2032 outlook for the south korean cotton market is positive. in 2018, cotton production in south korea was estimated to be well over 2.5 million bales, representing a year-on-year increase. this growing demand for cotton is expected to continue over the outlook period, as the country strives to meet the demands of its population and businesses. the country also boasts strong textile manufacturing capabilities, with yarn spinning, weaving, and dyeing all taking place in the country. this would enable domestic and foreign textile manufacturers to keep their costs low, whilst still producing high-quality garments and products. alongside the growth of the cotton industry, the south korean government has established infrastructure projects to help aid growth within the sector. these projects aim to help the sector become more efficient, as the government looks to reduce the time it takes to produce a garment. this includes developing an integrated textile network to facilitate the transportation of inputs and outputs, accelerating the production process, and reducing costs. the south korean government has also made investment into improving agricultural practices, which have enabled the country to increase yields and production. this, coupled with the government's effort to increase exports of domestic fabrics, has allowed for further growth within the sector. finally, south korea is also encouraging foreign investment, both in the form of foreign direct investment and expansion of domestic manufacturers to foreign markets. this has highlighted south korea's growing potential as a globally recognised textile hub, and one that is likely to benefit from additional investment over the outlook period. overall, south korea looks set to remain a prominent player within the global cotton market. its established infrastructure and experienced labor force, coupled with intensified government efforts and foreign investment, will likely create a positive outlook for the sector throughout the 2018-2032 period.