Korea is frustrated, with its top 10 export industries being caught up by China, and may lose all of them within five years!
On November 17, the Korean Economic Association released a report stating that the competitiveness of South Korea's top 10 export industries is being strongly chased by China. Currently, five areas such as steel, secondary batteries, and automobiles have been overtaken by China, while the gap in other areas is narrowing. 62.5% of Korean companies regard China as their biggest competitor. With South Korea's competitiveness at a baseline of 100, China's current score is 102.2, and it will be on par with the United States' 112.9 by 2030. It is expected that within five years, China will overtake South Korea's top 10 export industries entirely. China has significant advantages in price, production capacity, and policy support. The brand advantage that South Korea still has will also face loss. In contrast, the United States continues to expand its advantages in areas such as branding and core technology, and the gap between Korean companies and the United States will further widen. South Korea is facing a dilemma of being squeezed between China and the United States.
[Witty] Korean citizens exclaimed, the only thing left that can beat China is football! The frustration of export industries is an inevitable outcome of slow technological iteration compared to China and weaker core advantages compared to the United States. The report reveals not only the loss of market share but also the collapse of South Korea's industrial positioning. The semiconductor industry, once a source of pride for South Korea, has had its basic technology surpassed by China; in areas such as automobiles and displays, China has achieved a leapfrog development through its complete industrial chain, policy support, and cost advantages. 62.5% of Korean companies view China as their top rival, and this proportion will rise to 68.5% within five years, precisely proving that China's manufacturing has made a comprehensive breakthrough from low-end to high-end. South Korea is caught between China and the United States, lacking both China's production capacity and innovation speed and the core technology of the United States, and its remaining brand advantage is in peril!
A commentary stated that the so-called double squeeze is nothing more than the survival of the fittest in global industrial competition. Instead of blaming others, South Korea should face up to its own shortcomings in innovation. In today's rapidly evolving technological environment, standing still is more fatal than being overtaken!
Original: www.toutiao.com/article/1849023646448643/
Statement: This article represents the views of the author.