The purpose of this research is to identify the kinds of structural changes that Korea’s export policy went through, and the distinct characteristics of these changes relative to other countries.
The importance of trade in the Korean economy has been continuously increasing since 1960s. With an export-oriented approach to growth, Korea has devised and has presented various means of policies in an aim to accelerate trade. Between the 60s and 70s, the country was able to drastically increase both its export and import trade by increasing production and employment through encouraging producers to conduct their production activities for both the domestic and international market. At the same time, most restrictions were lifted with regards to raw materials, as well as intermediate and capital goods needed for production for export..
In the context of the global market, a country’s competitive advantage and its resulting structure of export trade are intimately related to its economic development. As such, Korea’s competitive advantage and its export trade structure can be better identified by comparing the export trade structure with developed or newly industrialized countries (NIC). Korea’s export trade is shifting towards producing products that are more based on technology and skilled-labor. This tendency is almost similar to the precedents of developed countries and NIC’s that are in a similar situation as Korea. Among such similarities however, there are also striking differences in the structure of Korea’s export trade, resulting from a set of complex factors. Taking this into consideration, industrial policy is an indispensable factor. The consequence of deciding which industry to support and through which industrial policy will be evident in the outcomes made in the global market.
Thus, the research seeks to compare the changes found in the export trade structures of Korea and other countries, thereby identifying the past tendencies and future prospects, and evaluating the export trade-competitiveness of industries. In particular, the export trade-competitiveness of industries have been evaluated through a comparison study with their counterparts from NICs, identifying each industry’s export trade-competitiveness and competitive advantage. The study classifies the industries into 28 categories (KSOC 3-digit). Subcategories were used in classifying industries that had more specific items or held a higher level of contribution in the country’s export trade.
한국의 산업별 수출과 경쟁력(Export-competitiveness of Korean industries)
|Series Title; No||정책연구시리즈 / 82-36|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Trade|
|Holding||한국개발연구원; KDI 국제정책대학원|