South Korea’s fiber industry is a global market leader in both the country’s economy and the international market, manufacturing both natural fibers such as cotton and wool and synthetic fibers such as polyester and nylon. “Focusing on industrial materials, chemicals, films, and electronic materials such as tire cords, airbags, aramid, films, DFR, and petroleum resins. Our products are recognized for their value as they maintain a high market share in Korea and global markets” (Key Materials, n.d.). The industry is well-known for its innovative technology, which produces high-performance fibers with unique features including moisture-wicking and sustainability. “The country put all its efforts into maximizing export products, starting with simple items such as garments, fiber, and footwear. As exports picked up, the government focused on building more sophisticated hardware-based products for heavy manufacturing industries such as automotive, TVs, steel, mobile devices, and semiconductors” (Yoon, 2022). Companies concentrate on smart fibers, nanofibers, and high-tech materials, boosting the country’s considerable export advantage. The fiber industry not only creates many jobs but also contributes considerably to the economy. But it also plays an important part in the worldwide textile supply chain. “Textile industries have to be quite innovative and quick in developing new technologies to match the demands of consumers” (Sohkhlet, 2021). South Korea’s free trade agreements contribute to its worldwide growth, while a rising emphasis on sustainability encourages innovation in recycled and bio-based fibers. The industry continues to evolve.
