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Korea: Continued Slump on Dongdaemon Market

By Anonymous
Publication: Asian Textile Business
Date: 2007 2007

Inactivity continues in the Dongdaemon Market which is a typical wholesale textile market in Korea

The outcome of the shrinkage of commercial rights in the rural district in Korea is the diminishing number of stores from the rural district coming to this market for buying. This market had a

reputation for cheap prices and good quality; however, this reputation has continued to decline. Buying of commodity items started by a small group of dealers in this market has now spread to many dealers. This fact has invited the criticism that this market has become featureless. The retail industry is flooded with large-scale malls up to the extent of an excessive space. The outcome is the lower profitability at each store and an intensified trend to buy cheap products such as those made in China. In the meantime, the utility value of the Dongdaemon market has been on the wane.

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