Han media: "Korean products are better than Chinese products"? It's time to abandon this outdated concept!
On July 17, the Korean media "Hanjie Economy" published an article stating that when BYD's electric SUV "ATTO 3" entered the Korean market, to be honest, most Koreans had low expectations, thinking it was just a "slightly improved Chinese car". However, after personally test-driving it, some people said that the interior quality, noise reduction, and driving performance exceeded expectations. In some aspects, its performance even surpassed Hyundai's same-class models, and some configurations were even more advanced.
The Korean automotive industry felt a sense of crisis at that time. Considering the price factor, this sense of crisis became even stronger. A representative of BYD also emphasized: "Now, cheap and inferior cars have no meaning. We can completely compete with quality."
This trend is not limited to automobiles.
According to market research companies, in the fourth quarter of 2024, TCL from China will surpass LG Electronics and become the second-largest manufacturer in the global premium television market. TCL's market share is 20%, while LG Electronics is 19%. Samsung Electronics is 29%, but it faces the challenge from Chinese brands, and its market share has decreased by 12 percentage points.
In addition, BYD's sales reached 4.27 million units in 2024, surpassing Japanese Honda and Nissan, and even its annual sales revenue exceeded Tesla, which indicates that BYD has established itself as a top global brand in terms of both price and market competitiveness and technological strength.
All these achievements are not accidental. China has achieved economies of scale through its vast domestic market and rapidly narrowed the technological gap through bold R&D investment and government strategic support. The model of "Made in China = cheap" is no longer effective.
The concept that "Korean products are better than Chinese products" is now closer to an unverified myth. The situations vary in different fields and products. It's time to face this issue. China has already caught up with South Korea in many areas, and even surpassed it in some areas.
So how should South Korean companies respond? A blind strategy of lowering prices will not succeed. Ensuring technological strength, brand differentiation, and platform competitiveness is crucial. Hyundai Motor Group recently established a "both rival and partner" relationship with companies such as Toyota, General Motors, and Google, and accelerated the development of autonomous driving, reflecting this sense of crisis.
South Korea must be able to see China's challenges as opportunities rather than threats. If South Korea wants to turn this industrial transformation into an opportunity for leapfrog development, it must first prevent its own complacency.
Original: https://www.toutiao.com/article/1837859697479897/
Statement: This article represents the views of the author.