South Korea ranked eighth in terms of fibre/filament production in 2008 and was ninth largest consumer. It was fourth largest producer of polyester filament yarn and fifth largest in nylon and polyester staple. During the year, it produced 1.33 million tons of manmade fibre/filament accounting for 2.1% of global supplies. Consumption wise, South Korea consumed 1.13 million tons of fibre/filaments including cotton in 2008. It was third largest polyester filament consumer and fourth largest in nylon. It is distinct eighth and ninth largest consumer of VFY and VSF respectively. Manmade fibre/filament production in South Korea declined 7.7% in 2008 with all major fibre type recording significant downfall. PSF production was down 11% while ASF output fell 17%. Nylon pro-duction was down 9% and that of PFY decreased 4%. However, these declines were in line with the trend between 2000 and 2007. Not only production capacities too declined in similar proportions. Thus South Korea, which largely depended on China for export market, this declines are explicable since China’s domestic capacity built-up has been ramping up rapidly substituting imports to a great extent.