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Shoe Industry South Korea

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BUSINESS
September 14, 1988 | JAMES FLANIGAN
In a few days the summer Olympics will open in South Korea, as seems fitting since that country of 44 million people manufactures more footwear than any other. Nike, Reebok, Converse, Adidas--you name the shoe for track or basketball, and Korea makes it. But that is changing. Korean shoe production is getting expensive, so the athletic shoe companies are looking to China and Thailand, the Philippines and Mexico to make the shoes.
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BUSINESS
July 27, 1989 | From Reuters
Rising costs have been sneaking up on the world's sneaker capital, where hundreds of long-profitable footwear firms are being forced to diversify or die. Businessmen and economists in Pusan, South Korea's second largest city, say many companies have either closed factories or been pushed to the brink of bankruptcy in the past year, while more than 20,000 workers have been laid off. The problems are simply that South Korea's money is getting too strong and its labor costs too high.
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BUSINESS
July 27, 1989 | From Reuters
Rising costs have been sneaking up on the world's sneaker capital, where hundreds of long-profitable footwear firms are being forced to diversify or die. Businessmen and economists in Pusan, South Korea's second largest city, say many companies have either closed factories or been pushed to the brink of bankruptcy in the past year, while more than 20,000 workers have been laid off. The problems are simply that South Korea's money is getting too strong and its labor costs too high.
BUSINESS
September 14, 1988 | JAMES FLANIGAN
In a few days the summer Olympics will open in South Korea, as seems fitting since that country of 44 million people manufactures more footwear than any other. Nike, Reebok, Converse, Adidas--you name the shoe for track or basketball, and Korea makes it. But that is changing. Korean shoe production is getting expensive, so the athletic shoe companies are looking to China and Thailand, the Philippines and Mexico to make the shoes.
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