The exports of the HS2008 product group from Shinan-gun, Hongseong-gun, Goheung-gun, and Mokpo City not only rank 1st to 4th in Korea, but accounts for most or a significant portion of the total exports of the region, making it a key export industry a...
The exports of the HS2008 product group from Shinan-gun, Hongseong-gun, Goheung-gun, and Mokpo City not only rank 1st to 4th in Korea, but accounts for most or a significant portion of the total exports of the region, making it a key export industry and export-specialized product in the region. Accordingly, differences in export growth rates naturally lead to regional economic growth gap. However, since the export growth of the four regions differs relatively large, it is necessary and important to identify the cause. This study, hence, uses a constant market share model to reveal changes in exports of the four regions by factor. The analysis method targets the import markets of the United States, China, Japan, and Germany, which have large import share in the global market of HS2008, and applies constant market share analysis to the leading countries that make up the import market. Through constant market share analysis, this paper shows that the scale effect is positive in all four major import markets. While the United States and Vietnam succeeded in increasing their share in the growing Chinese import market, Korea, the Philippines, and Thailand are struggling in the Chinese market. This study also indicates that Korea continues to lag behind its major competitors in the Chinese import market. In the U.S. market, both the competitiveness effect and the cross-effect of Mexico and Vietnam have positive signs, and Korea gains its competitive edge, but its competitive advantage tends to dwindle. In Japan's import market, both Korea and Vietnam performs well with positive signs in the cross-effect and competitiveness effect, indicating that Korea has a competitive edge over major trading partners, but the competitive advantage decreases. In Germany's import market, Korea, Austria, and Italy adapts successfully to the market along with higher competitiveness. In particular, Korea has a strong competitive advantage in the German market, and its competitive advantage is maintained over major countries except Vietnam.