The Korean industry’s competitiveness assessment using export big data
|Author||Youn, WooJin||Date||2017.03.27||Issue No|
A nation’s exports performance can be used to indirectly measure the nation’s industrial capacity.
○ The higher the income level of a nation is, the faster its competitive export items increase. This is how capacity, beyond the tipping point, is stepped up during the industrialization process.
Export big data represents that, for the last 20 years, Korea’s ranking jumped from 16th to 13th.
○ An industrial concentration index that helps understand the growth potential of the industry, represents that Korea’s ranking dropped from 21st to 25th.
○ This indicates that industrial ecosystem is losing ground due to the post-industrialization, and industrial development, resulted from a catch-up by emerging economies, for example China.
It is important to know how to implement policy by sector, considering how an overall forest is changing.
○ Individual implementation of SMEs policy, local cluster policy and R&D policy, can lead to problems of performance-oriented policy of individuals.
It is necessary to prepare for a middle to long term strategy to nurture manpower at home and abroad with creative ideas and business capacity as future entrepreneurs for the sound industrial ecosystem.
○ From a start-up level to globalization, it is necessary to build up systems to thoroughly monitor entering, growing and ousting of firms in and out of market, which underlie the industrial ecosystem.
○ It is necessary to oust zombie companies that harm the industrial ecosystem to maintain dynamism of companies, and encourage challenges of start-ups.