Seoul Economic Daily (June 1)
“Chinese imported cars overtook Japanese vehicles in Korea’s import market for the first time in April…. The result is striking, considering that all Chinese imports came from a single brand, BYD.” The “Red Tech threat” extends beyond EVs and looks poised “to engulf the AI and advanced manufacturing ecosystem. Before it is too late, the public and private sectors must mobilize all their capabilities to drive structural reform of mainstay industries such as steel and petrochemicals, where competitiveness is weakening, and to nurture new industries. If we fail to confront the reality of the crisis and respond complacently, we will surrender not only future growth engines but also industrial leadership itself.”
Tags: Advanced manufacturing, AI, BYD, China, Competitiveness, Confront, Crisis, EVs, Future, Growth engines, Industrial leadership, Japan, Korea, Mainstay industries, Mobilize, Petrochemicals, Red Tech threat, Steel, Structural reform, Surrender
