In 2023, the value added of clothing in South Korea stood at approximately 6.97 trillion South Korean Wons. From 2024 to 2028, the projected values indicate a modest growth trend: 7.0246 trillion Wons (2024), 7.0785 trillion Wons (2025), 7.1314 trillion Wons (2026), 7.1832 trillion Wons (2027), and 7.234 trillion Wons (2028). Year-on-year growth rates are as follows: 0.75% (2024), 0.77% (2025), 0.75% (2026), and 0.70% (2027). The Compound Annual Growth Rate (CAGR) for the forecasted period stands at approximately 0.72%.
Future trends to watch for include shifts in consumer preferences towards sustainable and ethically-produced clothing, advances in textile technology, and the potential impacts of global trade dynamics on South Korea's clothing industry. Keeping an eye on these factors will be critical for stakeholders looking to capitalize on growth opportunities in the sector.
