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    Revitalization of Korea's Exports of Consumption Goods to Southeast Asia

    Kim, Gyupan; Lee, Sooyoung; Lee, Hyongkun; Lee, Boram; Lee, Jungeun; Choi, Boyoung | April 2019
    Abstract
    China’s gradual introduction of “open-door” policy in the late 1970s had the effect of expanding the country’s influence in the global market. This is especially true in the Northeast Asian region, where China is the major destination for intermediate goods from Korea and Japan, and all three countries benefit from the supply chain. However, Korea’s excessive dependence on China for exports was found to be problematic with the rise of the THAAD issue and China’s consequent economic retaliations, driving home the need for Korea to diversify its export destinations. Moreover, China’s technology level is developing at a rapid speed, replacing imported intermediate goods with domestic ones, further warranting a change in Korea’s export strategy. Southeast Asia is one of the emerging alternative markets in the world economy. The region has been growing at a faster rate than the world average, even with the rest of the world experiencing a slow pace of growth. In addition, Southeast Asian countries such as Indonesia, Vietnam, and Thailand are a promising marketplace for Korea due to the popularity of the Korean Wave in the region. While there is a plethora of studies concerning intermediate goods trade in Korea, China, and Japan, there is a considerable lack of research on consumption goods trade, despite it also being a very important tool in achieving trade diversification. As such, this study seeks to derive policy implications for Korea’s exports of consumption goods to the Southeast Asian market, by comparing and analyzing the current status and competitiveness of Korea against China and Japan—its main competitors—in the three Southeast Asian countries of Indonesia, Thailand, and Vietnam. In doing so, we attempt to provide suggestions for the diversification and enhancement of Korea’s exports.
    Citation
    Kim, Gyupan; Lee, Sooyoung; Lee, Hyongkun; Lee, Boram; Lee, Jungeun; Choi, Boyoung. 2019. Revitalization of Korea's Exports of Consumption Goods to Southeast Asia. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/10137.
    ISSN
    2233-9140
    Keywords
    Free Trade
    Trade Facilitation
    Trade
    Economic integration
    Regional Economic Integration
    Intraregional Trade
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Economic planning
    Economic structure
    Growth policy
    Trade relations
    Trade policy
    Trade policy
    Economic development
    Economies in transition
    International economy
    Border integration
    Economic integration
    Gross domestic product
    Trade policy
    Trade Regulations
    Exchange Rate
    Economic zones
    Regional economics
    Economic forecasting
    Economic development projects
    Success in business
    Business
    Free trade
    Business
    Economics
    Communication in economic development
    Restraint of trade
    International economic integration
    Trade blocs
    East-West
    Exchange rates
    Economic Zones
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/10137
    Metadata
    Show full item record
    Thumbnail
    WEB19-08.pdf (275.7Kb)
    Author
    Kim, Gyupan
    Lee, Sooyoung
    Lee, Hyongkun
    Lee, Boram
    Lee, Jungeun
    Choi, Boyoung
    Theme
    Trade
    Economics
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise