Signal China's export share surge and US tariffs squeeze Korean manufacturers

Summary

The government cites global export shares from 2010 to 2024 to show how quickly China has expanded in Korea's traditional industries. In chemicals Korea's share rose from 2.9 to 3.6 percent while China's jumped from 6.1 to 12.1 percent. In steel Korea edged up from 4.7 to 4.8 percent while China climbed from 10.9 to 23.8 percent. At the same time US tariffs are said to have fundamentally changed the global trading environment, putting large firms as well as small ones in an emergency. Revenue growth at large companies slowed from 5.4 percent in the second quarter of 2024 to 2.6 percent in the first quarter of 2025.