Concern has been expressed by the Korean footwear industry at the rising tide of cheap imports.  During the first three months of 2003, exports were up 30% on the year previous to $132.54 million.  To make matters worse, exports fell 16.3% to $119.18 million.

Low cost competition from China and other parts of South East Asia were blamed and fears are rising that the imbalance will gain momentum as China improves the quality of its output.  In a bid to reverse the situation, Korean shoe-making enterprises are said to be placing increased emphasis on casual and functional styles.

The government has also put together a plan that will see around  $345 million invested in training and the development of new shoe-making materials.  But with so many of the country’s indigenous shoe producers now looking to relocate to China and Vietnam, one cannot help but wonder whether it is all too little, too late.

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