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Recovery of Japan's economy and export competitiveness of Korea and Japan

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Frame of Image s prolonged economic recession and recovery. Due to these changes, competition between the two nations has increased in the global market as the similarity in export structures between them increases. In both nations, electrical and electronics, automobiles, and machinery industiries ranked first, second, and third, respectively, in terms of exports. In Korea, at least 89.4% of the top 20 exports(HS 2 unit) were the same items as in 2006; while 86.1% of Japan's exported items were same as 2006. In comparing the competitiveness of Korea and Japan, Korea's market share has been steadily increasing, driven mostly by the heavy chemical industry. In contrast, Japan's market share has steadily declined due to its prolonged recession. Despite Japan's economic recovery of 2003, major Korean industries have shown improved competitiveness. In analyzing their relationship according to the changes in their market share, Korean exports pose more of a threat to Japanese exports than vice versa. Competition between the two nations has increased expanded since 2000, however, Korea’s competitiveness has weakened due to the steadily appreciating won. In contrast, Japanese competitiveness has shown a slight improvement, due to increased investment by Japanese companies following their economic recovery. Therefore,
18
KIET Industrial Economic Review
countermeasures for coping with this situation should be prepared.
1. Issues to be Raised
Since both nations exhibited a similar pattern of industri


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Title Recovery of Japan's economy and export competitiveness of Korea and Japan
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Material Type Reports
Author(English)

Shin, Hyunsoo; Lee, Wonbok

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2008
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 13(no. 1)
Pages 11
Subject Country Japan(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Holding KIET; KDI School

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