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Analysis on export competitiveness of Korea, China and Japan in ASEAN

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Frame of Image suggest couple of policies to strengthen export competitiveness of Korea in the ASEAN market. Analysis on Export Competitiveness of Korea, 1) China and Japan in ASEAN For this purpose, Korea needs to keep a careful eye on the ASEAN market because the ASEAN economic potential as a new market has rapidly grown these days. Furthermore, many countries around the world are interested in the ASEAN market and they have 2. Recent Sluggish Trade Since the 1960s, export has been a main driver of economic development in Korea. During development era, export contribution to GDP growth had been overwhelming. For instance, Figure 1. 15.0 10.0 5.0 0 -5.0 -10.0 Korea GDP and Export Contribution to GDP (%p) (%) 250 200 150 100 50 0 -50 1991 1993 1995 1997 1999 2001 2003 2005 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 GDP growth (left) Export contribution to GDP (right) -100 Source : Bank of Korea. 1) This study draws on the research project entitled “Competition between Korea and China in ASEAN market”, e-KIET Issues & Analysis (2016). 15 Figure 2. Trend of Recent Protectionism Trade restriction measures a monthly average in G20 21 18 14 894 633 2010 2011 2012 2013 2014 2015 2015.10~ 2016.5 17 18 18 18 TBT notification 1867 1898 2000 2005 2010 2015 Source : WTO. annual average share of export contribution to GDP growth over 1991~2012 was 63.8%. However, this tremendous contribution of export to GDP growth has changed as Korean trade has shrank along with decrease in world trade since 2


Full Text
Title Analysis on export competitiveness of Korea, China and Japan in ASEAN
Similar Titles
Material Type Reports
Author(English)

Min, Hyeok Ki

Publisher

[Sejong, South Korea] : Korea Institute for Industrial Economics and Trade
Date 2016
Series Title; No KIET Industrial Economic Review / vol. 21(no. 5)
Pages 10
Subject Country China(Asia and Pacific)
Japan(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < General
Holding Korea Institute for Industrial Economics and Trade
License

Abstract

Export is a main driver for economic growth. Korean economic development has heavily depended on trade expansion. However, recently Korea economy has experienced sluggish exports. To regain economic vitality, Korea has to find out ways to expand exports. For this purpose, Korea needs to keep a careful eye on the ASEAN market because the ASEAN economic potential as a new market has rapidly grown these days. Furthermore, many countries around the world are interested in the ASEAN market and they have aggressively invested to the ASEAN market. In this study, we analyze export competitiveness of Korea, China and Japan in the ASEAN market by using Export Similarity Index (ESI) and Constant Market Share Model (CMS). And then, we suggest couple of policies to strengthen export competitiveness of Korea in the ASEAN market.