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S. Korea Increases Import of Chinese Fiber
South Korea has sharply increased its import of China's fiber since the beginning of this year.
In the first nine months of 2000, South Korea's monthly import of Chinese fiber has surged by an average of 40 percent over last year's, according to the Korea International Trade Association on November 28.
In the nine months, Chinese fiber import has soared 43 percent from the same period of last year.
In 1999, South Korea imported a total of US$1.4 billion worth of Chinese fiber, up 29 percent from 1998.
When it comes to prices, Korean fiber has lost its competitiveness compared to the Chinese products. Unless domestic fiber firms focus on high value-added items, Chinese products will conquer the Korean market soon, a association spokesman said.
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