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Strategy for Enhancing the Global Competitiveness of the Key Manufacturing Equipment Industry

Author Kwang-soon Park, Dae-young Joo, Jong-ki Kim, Seok-woo Lee Date 2016.02.01 Page 35
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Governments of advanced economies worldwide are returning to manufacturing as the trustworthy source of continued economic growth and employment. This has pluralized the structure of competition in the manufacturing equipment sector. China, in the meantime, is rapidly catching up and competing with the strategies of these governments by launching its own Intelligent Production System Development Strategy.
A main objective of this study is to identify and analyze the current issues faced by the major manufacturing equipment industries (MMEIs) in Korea and the demand for their products at home and abroad. To this end, we analyze the competitiveness of Korean MMEIs from various perspectives. We make an objective analysis of the basis of patented technologies for the MMEIs in Korea using various indicators of reliability, and explore policy implications.
Based on our analysis, we assess the competitiveness of Korean manufacturing equipment on the global market, and identify the tasks that policymakers and businesses need to complete to ensure the future growth of the industry.