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Korea:To enter niche areas, textile firms venture
into ''Smart Fibers'' segment |
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2005-2-16
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With the ending of the textile quotas and global competition on the rise, South Korean textile firms are trying to develop "smart fibers" to revive their flagging businesses, industry sources said Tuesday.
To cater to niche markets is what holds bright prospects and sources say, Kolon Industries Inc. plans to invest 2.3 billion won (US$2.22 million) to develop so-called bio-protection fibers, which are lighter and more resistant to fire and shock than existing ones, by 2007. |
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