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Title STEPI In-House Seminar on “Asian Industry Trend and Issue”
Date 2018-06-28 Hit 829  

The Office of Multilateral Cooperation Project of STEPI held an in-house seminar on the “Asian Industry Trend and Issue”, which gave an opportunity to have an intensive discussion on the Asian industry trend with a guest speaker, Mr. Phil-sang Lee, head of Hong Kong Research Division of Mirae Asset Global Investments.

Lee shared his insight by saying that the supply chain of robot production and big 3 components are concentrated in Asia, and Chinese companies have been rapidly growing in the recent years. He particularly mentioned the cloud and software industries in China. Since more than half of Amazon’s profit is generated from cloud service, companies are expected to pay more attention to the cloud sector. According to his analysis, while China’s current economic size stands at 70% of the US economy, the size of Chinese cloud and software industry is only 3~10% of that of the US, which indicate much potential for further development going forward.

Autonomous vehicle is another area to which major multinational companies have turned their attention. From Lee’s perspective, the autonomous vehicle business model has been already formed. The future of autonomous vehicle may be bright as the analysis shows that robot tax has less expenses than owner-driven car and shared car. But it is not negligible that the emergence of robot taxi can cause the sudden decrease in finished car sales and consequently affect the national key industries.

In addition, he mentioned about the growth of China’s native brands as well as the paradigm shift in the Chinese pharmaceutical industry with the increasing popularity of the biosimilar industry.

There were questions about the potential of Vietnam’s industrial development and the US-China trade war. First of all, in the case of Vietnam, it is not likely to achieve as significant growth as China due to its low GDP and small market. For the US-China trade war, he took the previous US-Japan trade friction as an example to forecast China would probably no longer maintain a submissive attitude and make a different move, for example further strengthening Chinese corporations.  

To the question asking the competitiveness and chances of Korean companies to enter the overseas battery/solar energy market, he was not so optimistic for Korean companies’ entry to the Chinese market considering the barrier imposed by the Chinese government against imported goods and Chinese companies' high market dominance in the particular segment.