Research Article Open Access

International Competitiveness of Korea Service Industry

Yoon-Doo Kim1, Seok Yoon2 and Ki Seong Lee3
  • 1 Department of Food and Resource Economics, Konkuk University, 322 Danwol-Dong, Chungju-Si, Chungcheonbuk-Do, 380-701, Korea
  • 2 Korea National Assembly, 1 Yoido Dong, Youngdeungpo-Ku, Seoul, 150-703, Korea
  • 3 Department of Economics, Konkuk University, 1Hwayang-dong, Kwangjin-ku, Seoul, 143-701, Korea

Abstract

Problem statement: This study examines the competitiveness of Korean Service Industry through the empirical analysis based on the comparative advantage index and suggests the policy implications from the research results. Approach: The model of empirical analysis was set using the equation of ratio of Export and Import (EXIM) and net export (XM) for service industry. Results: The present study showed the estimation results of the EXIM and XM. Conclusion: With regard to the competitiveness of service industry, the analysis results suggested the policy implications: First, it was necessary to introduce an incentive system for skilled workers and invest more in research and development in order to increase the labour productivity of human capital. Second, government should implement the open market policy to liberalize the labour movement and induce low-paid labour.

American Journal of Applied Sciences
Volume 9 No. 3, 2012, 343-349

DOI: https://doi.org/10.3844/ajassp.2012.343.349

Submitted On: 7 January 2011 Published On: 21 January 2012

How to Cite: Kim, Y., Yoon, S. & Lee, K. S. (2012). International Competitiveness of Korea Service Industry. American Journal of Applied Sciences, 9(3), 343-349. https://doi.org/10.3844/ajassp.2012.343.349

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Keywords

  • Service industry
  • international competitiveness
  • South Korea