Among the Korean textile industry, a pessimistic view has become prevalent on the future course of exports because of a strong concern for the Korean won rising up to 850 won against the US dollar.

So far, it has been said generally that US$1=960 won is the break-even point in textile exports. Last year, however, the won rose even higher and reached 922 won on December 15. The situation in 2007 is even more severe for exporters and there is the prospect that the won will advance up to 850 won.

Some exporters sigh over the government's inactive intervention in the foreign exchange market. When exporter's sales shrink, the Korea Credit Guarantee Fund will start the recovery of funds ...

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