A research report released by the Korea Institute of International Trade Research Institute on November 3, 2013 stated that South Korea’s materials and parts industry is suffering from a “double attack†by China and Japan. The material and parts industry is South Korea's current dominant industry. On the one hand, it is still creating foreign exchange revenue for South Korea, but at the same time, China's dependence on imports is also rising.
Materials generally refer to textiles, chemicals, rubber, plastics and non-metals, and primary metals, and parts and components usually refer to all parts and components of general machinery, computers, office equipment, electrical machinery, electronics, and precision machines and transport machinery. The materials and parts industry is also known as the MC industry. In the world economy, the materials and parts industry, especially the high value-added materials and parts industry, has become a new profit highland.
In the trade of materials and components with South Korea, Japan has been in surplus, and the surplus has continued to expand. According to the data mentioned in the report of the Korea Institute of International Trade Research, Japan’s surplus in South Korea in the fields of materials and parts from 2007 The 18.9 billion U.S. dollars increased to 22.1 billion U.S. dollars in 2012.
At the same time, South Korea’s imports of materials and component products from China have also increased in recent years. Among the related products imported from South Korea, the proportion of products produced in China rose from 23.8% in 2007 to the current 26.8%, and the proportion of Japanese products. It dropped to 21%. The Korea International Trade Research Institute’s report stated that China has become the largest seller of materials and parts in Korea. However, it should be mentioned that although China’s exports to South Korea have seen an increase in the number of materials and components, the overall share has also surpassed that of Japan, but in this area, Japan’s surplus with South Korea and China’s deficit with South Korea are It shows that there is a huge gap between Chinese products and Japanese products as well as Korean products in terms of added value.
As the materials and precision parts industries located upstream of the industrial chain occupy a high profit margin of the entire industry chain, in some industries, materials and parts can even account for more than half of the profit rate of finished products. Therefore, Japan and South Korea have increasingly attached importance to this industry in recent years. Take Japan as an example. Although the global monopoly of Sony, Toshiba and other consumer electronics giants is constantly being challenged, it is still difficult for Japanese companies to master the core technologies that are difficult to surpass in the short term. For example, in the field of LED display, some Japanese companies have more than 70% share in the global market due to the patented technology of materials and components. Another example is fiber-optic cable manufacturing technology. Japanese companies have mastered the technology of producing high-purity silicon dioxide so that they can obtain more than 50% of the overall product profit.
South Korea experienced the “Han River miracle†in the middle and late last century. After gaining economic growth, it gradually realized that the lack of core technology of the enterprise will restrict the development of South Korea’s economy, and it will also expose Korea to a huge trade deficit with Japan. South Korea began to pay attention to the materials and parts industry. From 2000 to 2012, South Korea's exports of materials and components have increased by more than 10% annually. In the first nine months of this year, South Korea’s exports of materials and parts amounted to 199.5 billion U.S. dollars, and achieved a record high of 72.8 billion U.S. dollars.
The development experience of Japan and South Korea in this industry is worth learning from China. On the one hand, it is encouraged and supported by the government. It provides guarantees for local companies to research and develop new materials and key components. Apart from financial support, it also needs to focus on policies. Guide role, so that companies have a clear direction for development. On the other hand, it is to give full play to the autonomy of enterprises and encourage enterprises to invest resources in independent research and development by opening up markets and encouraging private capital investment to create a competitive atmosphere.
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