South Korea has successfully implemented the policy of promoting economic growth since the 1960s, and has maintained double-digit economic growth, which is called "Hanjiang Miracle". From 65438 to 0996, Korea formally joined the Organization for Economic Cooperation and Development (OECD) and entered the ranks of developed capitalist countries. 1997 Although the economic crisis was hit hard, under the leadership of the Korean government, the economy quickly recovered. 1999 increased 10.9%, 9.3% in 2000 and 6% in 2002. In 200 1 year, the GDP reached $442.2 billion.
South Korea's industrial structure is very reasonable, especially the electronic products industry, information and communication industry, semiconductor industry, automobile industry, steel industry, shipbuilding industry, textile industry, parts and materials industry has unparalleled national and enterprise competitiveness. South Korea is the fourth largest producer of electronic products in the world. Daisuke, Samsung and other companies have key technologies such as digital TV and plasma display. South Korea's steel industry ranks sixth in the world in terms of steel output. POSCO is one of the best steel companies in the world. South Korea's total automobile output ranks fifth in the world. South Korea has the largest shipyard in the world, and its shipbuilding industry is famous for building advanced LNG ships. Since the 1999 financial crisis, the Korean government has been committed to cultivating the information and communication industry into one of the national pillar industries.
South Korea is also a big trading country, its trade structure is constantly optimized, and its export growth rate ranks among the top in the world. From1964 to 2000, South Korea's exports grew at an average annual rate of 22.4%. Starting from 1992, semiconductors account for the largest proportion of Korean export products, and automobiles and ships are also the main export products. With the globalization of information and the vigorous development of IT technology, the export of computers and wireless communication equipment in South Korea suddenly increased in the late 1990s. In 200 1 year, South Korea's total exports reached150.4 billion US dollars, and its total imports reached14100 billion US dollars, ranking the third in the world in terms of total trade. At the end of 200 1, the total export value accounted for 35.6% of GDP.
However, with the rapid economic development in South Korea, other contradictions have become increasingly prominent. With an area of 99,000 square kilometers and a population of 48 million, South Korea has a relatively small market. Developed industries and competitive products need to be solved through trade and other channels. The labor cost in Korea is already quite high. According to relevant data, the salary level in South Korea is almost eight times that in China. The average hourly wage of Korean workers is $7.75, while China is rich in labor resources, and the average hourly wage of China workers is $0.92. South Korea also needs to adjust its industrial structure and trade structure to solve new problems brought about by rapid economic development. Therefore, the integration of resources by developing trade relations between the two countries will be conducive to further enhancing their respective economic strength.
2. The prospect of rapid economic growth in China provides new opportunities for the development of trade between the two countries.
China is a developing economic power, with a large economic aggregate, and its position in the world economy has improved rapidly. In 2002, the GDP was1158.7 billion US dollars, ranking fifth in the world. The market capacity is large, with population1300 million and per capita GDP 1000 USD. Rapid economic development, great development potential and many opportunities. China has been one of the countries attracting the most foreign investment in the world for seven consecutive years. In 2002, its direct investment ranked first in the world, and its foreign trade volume exceeded 620 billion US dollars, making it the fifth largest trading country in the world.
China's accession to the WTO has provided opportunities for Korean products to enter the China market. After China's entry into WTO, IT will gradually remove trade barriers, fully open its market, especially high-tech products, and gradually implement zero tariffs, which is very conducive to the export of Korean products to China, especially the expansion of IT products. According to the report of Korea Electronics and Communication Research Institute, after China's entry into WTO, South Korea's IT products exports to China will increase by 600 million US dollars annually on average.
China's steady and rapid economic growth will expand the trade between the two countries. 2 1 century is a period of rapid economic growth in China, and China's economy will continue to maintain a growth rate of more than 7% in the future. The rapid economic growth not only provides rich sources of goods for China's exports, but also provides a broad market for imports. According to the analysis and forecast, in the next 10 year, China's economy will still maintain a high-speed growth trend, and its market capacity will become larger and larger. As long as South Korea continues to maintain its current economic development speed, it is estimated that by 20 10, the trade volume between the two countries will exceed10 billion US dollars.
Beijing's successful bid for the Olympic Games, Shanghai's successful bid for the Expo and China's strategy of developing the western region will all provide great business opportunities for Korean trade. After Beijing's successful Olympic bid, it will invest $33.8 billion in related construction. South Korea has successfully hosted the 1988 Olympic Games and the 2002 World Cup between Korea and Japan, and it is close to China, so Korean enterprises will get many bidding opportunities. According to the analysis of the Ministry of Industry and Resources of Korea, due to the demand of Beijing Olympic Games, the trade volume between Korea and China will reach 654.38+000 billion US dollars. In particular, South Korea's exports to China will increase at an average annual rate of 15%, and by 2008, its exports to China will reach 56.5 billion US dollars, three times as much as now. At the same time, China's strategy of developing the northwest is being implemented. The western region is rich in natural resources and has a huge labor market, and there are a large number of infrastructure construction projects in the early stage of development. Therefore, with the expansion of the economic and trade scale between the western region of China and South Korea, including investment projects such as the utilization of labor resources, infrastructure and energy development in the west, South Korea is likely to occupy a certain share.
In addition, China is gradually opening up financial, commercial and tourism services. It can be expected that the service trade between the two countries will also develop rapidly.
The trade structure of the two countries is highly complementary.
Due to the differences in economic development and natural resources endowment between China and South Korea, the industrial structure has different advantages, which makes the trade structure complementary. China exports most textile raw materials and products to South Korea, and mineral products are also the main products exported to South Korea. In 20001year, China's textile raw materials and products, electromechanical audio-visual equipment and parts, base metals, mineral products, chemicals and grain accounted for 78.20% of China's total exports to South Korea.
South Korea's main export products to China are organic chemicals, electronic products, petroleum products, woven fabrics, steel products, industrial electronic products, general machinery, leather and leather products. In recent years, the export volume of high value-added industrial products such as electronic products, steel products and general machinery in South Korea has increased steadily. In 2002, South Korea's exports to China increased significantly, mainly from IT products such as computers and semiconductors, among which semiconductor exports increased by 96% and computers increased by 160%.
In addition, the geographical proximity, similar culture, the same value orientation and long history of economic ties between the two countries make trade cooperation between China and South Korea very easy.