South Korean exports of Polyester Staple Fibers (PSF) significantly increased in 2007, thanks to a sharp rise in prices. Sales were also boosted by European anti-dumping duties on Taiwanese products and US additional tariffs on Chinese PSF. Exports from South Korea are again rising to new markets, like Iran or Vietnam.

The dramatic rise in China's PSF capacities in the past twenty years did not depress polyester staple fibber exports from South Korea. After a initial decline at the start of the decade, Korean exports recovered upto 20% in value terms in 2007 as compared to year 2000.

Sales to China are however still declining, not surprisingly, given the permanent expansion in Chinese PSF capacities. Exports were down 6% in the past year in value terms even falling 18% in volume terms. China still ranks second among destinations of Korean PSF shipments. In order to offset the decline in the Chinese market, South Korean exporters were actually able to develop sales in other  countries.

Shipments to Iran for example rose 26% in value terms in 2007, after surging 95% in 2006. Sales to Vietnam were up 52% in 2007, while shipments to Russia however decreased. In addition to expanding sales to new markets, Korean suppliers also took advantage of anti-dumping duties which were recently set by the European Union and the United States on products from rival origins, especially US additional tariffs on Chinese PSF and European tariffs on Taiwanese products.