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Need for improving the quality of exports by strengthening export competitiveness of value added goods

Author Yoon Ujin Date 2015.10.19 Issue No 621

At the early stage of economic development, export industries advance through quantitative growth, but as the economy moves into the latter stage of industrialization, the qualitative changes of export industries are becoming more important


The export sophistication index, which evaluates the qualitative changes of exports and per capita income, are closely related


The service industry contributes more to the qualitative improvements of exports than the manufacturing sector through value added exports


In case of the US, the competitiveness of added values has become stronger to a level that has not been reached by other nations for the last 20 years


The US and Japan have maintained efforts to sustain harmonized industrial linkages among domestic industries through restructuring the manufacturing and service industries and strengthening the fundamentals


Exporting industries in Korea need to implement strategies that can enhance their value added export competitiveness by improving added values in the country and strengthening industrial linkages


Exporting companies are required to enhance their competitiveness in the value chains by actively using the economy of scope, which harmonizes various goods and services