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KDB: S. Korea Tech 2.2 Yrs Behind Japan, 3.8 Yrs Beyond China

Written: 2004-07-19 00:00:00Updated: 0000-00-00 00:00:00

South Korea's technological competitiveness has been found to be 2.2 years behind that of Japan and 3.8 years ahead of China's. The findings were made in a study by state-run Korea Development Bank on ten key industrial products including semi-conductors, automobiles, petro-chemicals, steel and consumer electronics. It compared South Korea's current competitiveness, which scored 100 points in the study, to Japan's 110.5 and China's 76.5. By 2007, the study said China's competitiveness would likely rise to 87 and Japan drop to 106.2. By 2010, China would reach 94.5 and Japan 102.1. The bank said in order to survive increasing competition, South Korea should focus on core technologies, press ahead with corporate restructuring, attain price competitiveness and invest in more environmentally-friendly industries.

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