SOUTH KOREA PAINT INDUSTRY STRUGGLES TO PROSPER IN A MATURE ASIAN MARKET
May 1st, 2007
BY KARRYN CARTELLEASIA'S paint and coatings industry may be growing but South Korea's share of the market is on the decline. Indeed, the South Korea sector's annual sales of US$3 billion make a small contribution to the global industry, where demand is predicted to reach US$83 billion this year.Over recent years South Korea has experienced a decline in production across the majority of paint and coating market segments and has shown minimal growth in emerging markets. "The paint industry here is very mature", Sy Oh from paint manufacturer the KCC Corporation. "We ...
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