中國의 産業政策變化와 韓國企業의 對 中國 投資戰略에 관한 연구

This study investigates the changing environment and industrial policy of China and the formation of foreign direct investment strategies of Korean firms hereafter. Following the establishment of diplomatic relations between the Korea and China in 1992, Korean firm's FDI to China grew rapidly. Complementary economic ties turned China into Korea's first trading partner exceeding the US and Japan. Korean FDI to China exceeds $6.4 billion in 2003. In this extraordinary growth, industrial policy and FDI inducement policy of Chinese government were at work. More important factor was the emergence of Korean firms losing competitiveness in labor-intensive sector and Korean multinationals with the financial and technological capability to compete directly in China. The massive FDI to China were fundamentally an expression of the expectation toward the Chinese market. Now, the investment climate of China is changing. Consequently, Korean investing firms must not pursue to gain immediate results at the expense of long-term gains. Also Korean investing firms to China can succeed in case of maintaining competitiveness complying with the industrial and economic development policy of China. Therefore, FDI firms need to continuously create competitive advantages. Especially, Korean firms need to increase appropriate production efficiency and enlarge product differentiation in China by region and industry. At the same time, in order to maintain competitiveness vis-a-vis foreign and local firms in China, Korean firms should actively prosecute localization and develop the sources of competitive advantage. Finally Korean firms should attempt to increase synergy effect between Korean headquarters and affiliates in China.