Textile Industry In Korea Case Study

1021 Words5 Pages
Along the history of Korea’s economic growth, one of the prominent sectors was textile industry which sought nation’s industrial development by shifting from the initial import substitution system to export industrialization. Similarly, by using abundant low cost labor force and self-supply of raw materials, Korea effectively promoted its industrial capacity through price and quality competition among developed countries (KIET,2012) (KOFITI,2013). At the initial stage, Korea launched the phased development strategy which means Korea enhanced the internal capacity based on the import technology from developed countries such as Japan and the United States and foreign direct investment with global countries (KOFOTI, 2013). To get more benefits from textile industry, the Korean government implemented various export promotion measures including preferential loans for operation and facility expansion, tax and tariff exemptions, wastage allowances and other social and administrative supports (Amsenden, 1989). In Korea, Daegu is the third largest metropolitan city and also known as the textile city of the country. Textile production in Daegu dates back to the Japanese colonial period (1910–1945), but it gained its full momentum in the early 1960s related to Korea’s start…show more content…
Secondly, it also involve the development stages of Industrial policy for textile industry and for the third, the study will highlight Myanmar’s industrial policy development and current status of Myanmar’s textile industry. Moreover, this study will make analysis of how South Korean Government has tried to encourage the textile industry by means of industrial policy measures, and discuss the results it has achieved throughout its history. Finally, some lessons will draw for Myanmar in order to apply in promoting sustainable growth of textile
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