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On the economic chessboard in Asia, every move can affect the whole situation.
The most recent big move came from China.
The Asian dragon has made a decisive breakthrough in the field of technological innovation, and its repercussions have reverberated throughout the region, especially South Korea.
According to a new report from the Korea International Trade Association, China's rapid progress in cutting-edge technology has begun to threaten South Korea's export competitiveness.
The news poses no small challenge to the South Korean economy, especially in the key areas of semiconductors and electronics.
China's technological progress is not an overnight phenomenon, but the result of years of accumulation and policy promotion.
In recent years, the Chinese government has invested heavily in research and development, especially in cutting-edge technologies such as artificial intelligence, quantum computing, and biotechnology.
These areas used to be South Korea's strong suit, but now South Korean companies find themselves falling behind in this multinational technology race.
According to the data, China's R&D investment has continued to grow faster than GDP growth over the past decade, reaching an unprecedented high level.
At the same time, China also has one of the highest number of patent applications in the world, indicating a significant improvement in its ability to innovate.
South Korea, on the other hand, has begun to slow down, although R&D investment remains strong in absolute terms.
The direct consequence of this technological leadership is increased competitiveness in the global market.
The price-performance ratio of Chinese products is improving, not only winning more share in the domestic market, but also competing head-to-head with Korean products in the international market.
For example, in areas such as smartphone components, electronic displays and high-performance computing chips, Chinese companies' products have begun to erode South Korea's share of the global market.
At the regional level, this change is particularly pronounced in South Korea's major industrial cities such as Seoul and Busan.
Seoul is the economic and technological center of South Korea, and the headquarters of many high-tech companies are concentrated here.
They feel the pressure most immediately, as they have to deal with not only competition in the domestic market, but also fierce competition from China in the international market.
In Busan, South Korea's industrial center and export port, the local manufacturing industry has also felt the dual challenges of Chinese products in terms of price and technology.
This wave of technological innovation poses a serious challenge to the South Korean economy and necessitates a reassessment of its long-term economic and technological strategy.
South Korea may need to invest more in R&D and seek breakthroughs in emerging technologies to maintain its competitive edge in the global market.
At the same time, it is also an opportunity for South Korea to deepen its cooperation with China and other leading countries in technology to jointly develop new technologies and open up new markets.
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