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Strategies for Development and Cooperation of Emerging Industry in Korea and China

Author Seo Dong-hyuk, Kim Jong-Ki, Jo Eun-kyo, Shim Woo-jung, Lee Ja-yun Date 2017.12.21 Page
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The objective of this study is to analyze the market and policy trends in China, which is poised to be South Korea’s biggest rival in the development of new industries in the future. We compare Korea and China in terms of industrial ecosystems and competitiveness, with a view to finding a strategy for maintaining Korea’s edge over China. At the same time, we also explore opportunities for the two countries to work together in launching new industries in the global market towards securing competitive advantages over other countries. The specific areas of new industrial development under our focus are smart factories, intelligent robotics, artificial intelligence (AI), and smart healthcare.

 

China has been making noticeable progress in these and other new industries, mainly thanks to its government’s active support for their systematic development. Aggressive investment from market leaders like Baidu, Alibaba, Tencent, Xiaomi, and Siasun and various startups are also accelerating growth in this area.

 

This study is distinct from others on similar topics in at least three regards. First, it provides a detailed comparison of market and policy trends concerning new industries in Korea and China. Second, it examines specific cases of corporate strategies adopted by emerging and leading companies in China. Third, based on collaboration with local research institutes, this study provides in-depth analysis of the overall market and policy trends in China.?