Korean fibres specialist Woongjin Chemical is implementing a far-reaching cost-reduction plan. Having already cut costs by KRW 16 billion ($13.5 million) during the first half of 2009, it has announced it plans to double this saving by the end of the year.

“Our company is carrying out sustainable and proactive innovation activities that employ systematic approaches and problem-solving strategies rather than activities yielding short-term cost reduction effects,” says a company spokesperson. “We will continue the ongoing innovation efforts in order to strengthen the competitiveness of our company.”

Another spokesperson told sportstextiles.com that the company is currently focusing on functionality, both for sportswear and for everyday clothing. “Consumers want it to be fashionable and functional,” he says. “They like to buy a garment that has a hang tag.”

He said that the market in Korea is very strong at the moment because people like to go to the mountains at the weekend and that they like to wear functional garments when they do so. He adds, however, that the price needs to be right. It’s about “how to make people live comfortably and happily,” he says.

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