The South Korean tableware industry has traditionally played its part in continually driving for new customers outside the country and forging important foreign business, part of an overall export scene which is crucial to Korea's economy (the fourth largest in Asia). With a smaller home market that its Asian rivals, overseas sales take on more significance and account for around 60% of the country's economy. However, recently released market figures do not bode well for the industry. According to the Bank of Korea, economic growth will slow right up in 2009 at around 2% (an 11y low). This compares with 4% in 2008 and 5% in 2007. A great deal hinges on export performance, which is predicted to worsen as international demand for consumer goods weakest in the face of the global financial crisis.
