Korea’s total fashion market, including shoes and sundries, grew 8.3% year-on-year to about US$29 billion (32.7 trillion won) in 2011.
The fashion market recorded strong growth in the first half of 2011 in line with the domestic economic recovery, while also dealing with the aftereffects of the global financial crisis.
In the second half of the year, when economic uncertainty increased, consumer sentiment
contracted remarkably, leading to a significant slowdown in growth.
The apparel market in 2012 is expected to expand 2.5%, in line with the level of private consumption growth shown in various projection indicators, to about US$29.7 Billion (33.5 trillion won) .
Similarly timed to overall economic growth, the apparel market is likely to post stronger growth in the second half after bottoming out in the first half.
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