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Korean Polyester Filament Industry

Structural Reforms in Urgent Need Centering on Scale Reductions

In Korea, polyester filament business is showing no signs of an improvement of earnings. As a result of excessive over-capacity, huge losses cannot be restrained, and structural reforms including the scrapping of equipment are in urgent need.

Production Decreases Drastically

It is estimated that polyester filament business had losses amounting to 200 billion won last year. The losses the polyester industry had in the worst year of 2003 were estimated at 300 billion won. Even Kolon Industries, Inc., which is considered a firm of good standing, had losses totaling 60 billion won, and the losses in polyester filament business ...

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