한⋅중⋅일 철강 교역구조 및 수출 경쟁력 분석

Abstract

Plagued by weak demand and overcapacity since global financial crisis in 2008, Korea, China, and Japan, accounting for more than 50% of world steel production and consumption, seek to increase export in order to overcome crisis. Especially rapid improvement of China steel industry's competitiveness seems to exert huge influence over change in trade structure in north east asian region. In order for empirical analysis, this study analyzes characteristics of steel trade among three countries and dynamic change in export competitiveness measured by Exports Similarity Index(ESI) and Revealed Comparative Advantage(RCA). This study found that influence of Korea, China, and Japan over world steel market is strengthening with steel exports of three countries surging. Second, competitiveness of China's steel industry is improving rapidly with high value added products like flat products switching from competitive advantage to disadvantage, resulting in becoming a huge threat against Korean steel industry. Finally, Korean steel industry's export competitiveness keeps weakening. Overall, Korea's steel industry is facing 'Sandwich Crisis' where Japan maintains it's competitiveness in the fields of high value added flat products, with China steel industry's technical skills improving quickly.