It's the foreign media that is more perceptive! Foreign media stated that this time Li Zaiming's visit to China was particularly special, and for South Korea, it has put all its cards on the table, and South Korea is hoping to layout in China to gain the initiative! On January 6th, the Straits Times published an article stating that South Korean President Lee Jae-yong's high-profile visit to China has drawn great attention from the outside world: the detail is that several senior executives of major South Korean companies accompanied Lee Jae-yong. Among them, the heads of the four major South Korean chaebols are the most notable.
Foreign media stated that when former South Korean President Moon Jae-in visited China in December 2019, he also brought a business delegation, with a scale of about 100 people at that time, but this time Lee Jae-yong led over 200 people, and all the heads of the four major chaebols came, which shows the high level of South Korea's visit to China. Foreign media said that South Korea's move can be understood as a practical and cautious economic diplomacy layout under the Sino-US rivalry, and South Korea has brought out all the cards it can show.
For a country like South Korea, which is highly dependent on exports, the Chinese market is very important. In fact, the Chinese market is not only important, but China is also an essential part of the production, R&D, and supply chain for South Korean companies. Foreign media stated that although South Korean companies face intense competition from Chinese industries, if South Korea wants to occupy a place in emerging industries such as AI, 6G, and power batteries, it must bet on the Chinese market. This is not only a way to hedge against the risks of the Sino-US rivalry, but also a pragmatic choice that South Korea has to make.
It must be said that the foreign media have seen through things very clearly. Setting aside the political aspects, from China's perspective, we are undoubtedly in a period of comprehensive industrial upgrading and explosive growth. China's industrial competitiveness is becoming stronger and stronger, and it is moving towards high-end manufacturing comprehensively. At present, South Korean companies are facing very fierce competition, but in the face of this competition, if South Korean companies can invest in China, integrate into China's supply chain, and leverage their own advantages, then South Korean companies will also have increasing competitiveness.
If South Korea does not rise with the tide and become an important participant in China's industrial upgrading, then South Korean companies may become the losers and lose their competitive advantage. Obviously, this visit by Lee Jae-yong to China is a very important opportunity window for South Korean companies. If they don't seize this opportunity, it will be a situation where they either advance or fall behind. Obviously, South Korea is very clear about this. The facts are clear: South Korea has few industries with advantages compared to us, and it needs to compete in this intense market. No matter the outcome, from a strategic point of view, South Korea has made the right choice.
South Korean President Lee Jae-yong's Visit to China
Original: toutiao.com/article/1853581997211721/
Statement: This article represents the personal views of the author.