The European Community accused South Korea and Taiwan today of undermining European shoe makers and said it will keep a close watch on their footwear exports.
Sales of shoes from South Korea and Taiwan have rocketed since 1985 at the expense of EC production and market share, the EC’s executive commission said.
“The commission has noted that the deterioration of community production is directly linked to growing imports from South Korea and Taiwan,” it added in a statement.
As sales of South Korean and Taiwanese shoes have soared, EC production has shrunk, causing the loss of more than 1,600 firms and 40,000 jobs. It holds 57.2% of the market, compared to 74.4% in 1985.