Korea’s top export sectors could be overtaken by China within 5 years: survey

All of Korea’s 10 key export industries could be overtaken by Chinese companies within five years, according to a survey of domestic companies with the highest sales in those sectors released Monday. The bleak outlook, revealed in the survey by the Federation of Korean Industries (FKI), reflects how much pressure Korea’s leading businesses now feel from Chinese rivals, with some competitors already surpassing them in global competitiveness. Among the country’s top 1,000 companies by sales, 200 participated in the survey. When asked which country is currently Korea’s largest competitor in the global market, 62.5 percent of respondents selected China, followed by the U.S. at 22.5 percent and Japan at 9.5 percent. When asked which country will be Korea’s biggest competitor in five years, an even larger portion, 68.5 percent, chose China, while 22 percent selected the U.S. and 5 percent chose Japan. The survey also asked respondents to compare the overall market competitiveness of other countries with Korea, which was fixed at a value of 100. Respondents said China currently scoreWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times