• 490,670: Bales of U.S. cotton exported to Korean spinners in 2014.
• $228 million: Value of the U.S. cotton.
• 60%: Sales increase in U.S. cotton exports to Korea from 2012 to 2014.
• COTTON USA conducted consumer promotions and trade communication servicing activities in Korea.
Sales of U.S. cotton to Korea increased by 60% since 2012 to reach 490,670 bales in 2014, valued at about $228 million. These sales resulted from a persistent and concerted long-term effort by COTTON USA to communicate the advantages of U.S. cotton to Korean spinners and consumers.
COTTON USA consumer promotions and trade servicing activities in Korea through Cotton Council International (CCI) impacted the sales increase, which gives U.S. cotton a 40% market share of Korea’s total imports. U.S. cotton consumption in some Korean companies has reached 80% to 100%, compared to less than 30% in 2012. Korean spinners and buying offices report that this trend of increasing U.S. cotton imports is expected to continue to exceed 50% in 2015.
THE POWER OF PROMOTION
CCI invited Korean spinners to a COTTON USA seminar in September 2014 to showcase the advantage of U.S. cotton at the industry level. In additional to ongoing trade communication efforts, CCI holds large-scale consumer outreach activities in Korea such as Cotton Day, as well as COTTON USA promotions in local department stores.