[Monitor] High GVC participation implies Korea’s vulnerability to external factors
IndustryFeb 24, 2020
According to a recent report by the Korea International Trade Association, South Korea’s participation in global value chain trade reached 55 percent as of 2017, placing it at No. 6 out of 18 major countries within the Organization for Economic Cooperation and Development. GVC refers to international production where the different output stages take place across various countries. With the rise of transnational corporations, firms from different countries tend to divide their production