Korean Media: Export "Dream High Ground" (70 billion USD) with the Taegukgi

The global export market "70 billion USD (about 1,011 trillion won)" is a dream high ground. Except for the Netherlands, which accounts for more than half of its exports through transit trade, only the United States, Germany, China, and Japan have managed to reach this high ground. These countries are all endowed with vast resources, capital, population, technological level, and imperialist legacy. Whether by necessity or coincidence, they are all the countries that were either the aggressors or the victors in the two world wars. At that time, South Korea was not even on the world map but had become a colony. Now, South Korea has defeated Britain and France, reached the 70 billion USD high ground, and joined the export "G5".

¬ In 1948, the year when the South Korean government was established, the export volume was 19 million US dollars; now, the export volume every 14 minutes and 16 seconds is equivalent to the entire year of 1948. Once the poorest country in the world, it now provides televisions for families around the globe, occupies roads with cars, and supplies core chips for advanced AI devices. A country that once had to rely on aid to avoid starvation is now a core engine driving the global economy. The creation of South Korea from nothing is one of the most dramatic economic miracles in human history.

¬ During the period of rapid growth, "export" for Koreans equaled "happiness." In 1977, exports surpassed 10 billion USD, and national income reached 1,000 USD; in 1995, exports reached 100 billion USD, entering a middle-income society where per capita income exceeded 10,000 USD. Over the past half-century, the formula "export growth, I am happy" was engraved as a success equation in the hearts of Koreans. Forgetting hunger, educating children, and starting the era of private cars all benefited from exports.

¬ South Korean exports can be described as a whole text of "paradoxes." It does not produce a single drop of oil, yet it ranks fifth globally in exporting petrochemical products by importing and refining crude oil; its self-sufficiency rate for iron ore hovers around 0%, yet it has become the sixth-largest steel power in the world by establishing Pohang. In the 6-25 War, it could not even produce a single rifle, yet now it is among the top nine countries in arms exports globally, with South Korean weapons guarding the land, sea, and air of Eastern Europe, the Middle East, Southeast Asia, and South America. Without resources, it uses its brain; without technology, it works tirelessly. This 70 billion USD scorecard is not just numbers, but the blood, sweat, and tears of Koreans.

¬ But the current reality is harsh, and we cannot raise a glass to celebrate yet. The formula linking export volume and income growth has long been broken, and the warmth of growth cannot benefit everyone. More importantly, China, whose core industries such as semiconductors, automobiles, and shipbuilding completely overlap with those of South Korea, is rapidly rising, making the situation serious. With the United States and others pursuing a "America First" policy, trade barriers are increasing day by day. Beyond the 70 billion USD high ground, another battle is waiting for us.

Source: Chosun Ilbo

Original: toutiao.com/article/1852994230889472/

Statement: This article represents the views of the author himself.