Garment and Textile
There are 6000 companies currently in textile and garment industry, attracting around 450,000 employees, both directly and indirectly. The industry is said to enjoy many benefits of Korean exports when the free trade agreement Vietnam – Korea (VKFTA) takes effect.
It is expected that, in 2016, South Korea will reduce tariffs to 0% for import garments from Vietnam. However, how many of the total 6,000 companies active in the textile industry actually benefit from VKFTA?