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The Export Dynamics of Korean Industry - Analysis of the Comparison Among Korea, the U.S., Japan, and China -

Author Yoon Woo Jin Date 2013.12.13 Issue No 572
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The result comparing the export dynamics among the U.S., Japan, Korea and China by using the recently developed export complexity index, is as follows.

 

As the density of the complexity is low for Korea, its base of the export capacity is relatively weak and its export capacity is concentrated on the 7 items including shipbuilding. 

 

● The export complexity structure of China has most dynamically developed for the last two decades in terms of the width of its change, and its density has also most sharply increased.

 

The comparison of the export competitiveness and complexity among the 4 countries by selecting the leading product items in manufacturing sector, shows the followings.

 

● The products made in the U.S. and Japan have commonly  competitiveness and  complexity relatively in many products.

 

● However, the number of the products made in Korea and China which have high complexity was small while they have the dualized competitiveness.

 

In order to make the best use of the scale of economy where the giant market of the global economy is created, it is required of steady efforts to widen the export cluster through the leading industry of manufacturing sector.


●It is necessary to make an continuous effort to develop the products equipped with competitiveness in the new manufacturing sectors such as chemical, metal and machinery which technology and knowledge are integrated into.

 

Based on the accessibility of the products produced from the sectors such as robot, bio and new renewable energy industries which are receiving new spotlight, it is necessary to establish an industrial cluster and strengthen its industrial cohesiveness.

 

In order to boost the dynamic industrial development in the future, it is desirable to convert into market-oriented legal system to promote the build-up of the production factors such as technology, knowledge and manpower.