Korea Herald 8월 20일자신문 (GM intranet에서 검색한것입니다.)

GM Intranet인 Socrates 에서 검색한 내용입니다. ====================================================================== Driving Korea's Economy Into the Future Korea Herald August 20, 2004 By Nick Reilly SEOUL -- The nation's economy is at a crossroads. It has the potential to drive into the future, regaining its rightful place as an engine of growth for Asia-Pacific and an example for nations both big and small around the globe or it can falter and lose significant ground. A combination of sound government reforms and the quality and determination of the people of Korea can make sure the economy goes down the right road. As to the strength of the people of Korea we can point to their advanced technological skills, strong work ethic, a commitment to setting and achieving goals, a willingness to change and the speed to move quickly. It is an indisputable fact that Korea remains a focal point in the world's fastest-growing region. Despite the challenges that the nation has experienced over the past few years, Korea has become a key hub for the whole of Northeast Asia. Indeed, Korea is in a unique and favorable geographical position, strategically situated among two of the world's largest economies, Japan and China. Like many other global companies, GM Daewoo parent General Motors has sharpened its focus on Northeast Asia. In fact, it has announced it will shift its regional base from Singapore to Northeast Asia. Its new regional base will enable GM, the world's largest automaker, to better capitalize on GM Daewoo as its regional headquarters for manufacturing, quality and powertrain, and the regional leader for several important company functions such as sales and marketing, design and communications. In the process, it will provide important new opportunities in Korea. The truth is that despite the current economic situation, there are tremendous opportunities in Korea. GM Daewoo has taken advantage by embarking on an unprecedented expansion. We are investing some 1.7 trillion won to grow our operations in this country through the introduction of new and upgraded vehicles and powertrains, the expansion of our existing facilities, the launch of new facilities and the creation of many jobs. In addition, we plan to expand our research and development center in Korea. All of these programs will strengthen our domestic operations as a valuable source of new products and the development of those products for the GM Group on a local, regional and global basis. Despite the temptation, we must be careful not to get ahead of ourselves. While GM Daewoo remains very optimistic about the country that is our home, there are no doubt a number of issues that could ultimately determine which road Korea takes and whether it returns to the fast lane of economic growth. Certainly, more can and should be done to remedy impediments (such as long-term problems in the banking sector and among credit card issuers) that continue to serve as an anchor weighing down growth. In addition, the walls that form a barrier to much-needed foreign investment must continue coming down while the transparency of regulations and legislation regarding foreign direct investment needs to be ensured. In a similar vein, a concerted effort needs to be made to guarantee a level playing field for all companies, regardless of their size or their investors. Korea must keep in mind as well the importance of cost competitiveness in labor and materials, particularly in comparison to lower-cost emerging markets such as China and India. What's more, Korean companies should continue to make their home operations in Korea a priority for investment, while continually looking abroad for new export opportunities. Korea can also be more proactive and flexible in entering free-trade agreements, which will provide valuable new opportunities for local companies in global markets, and adopt international standards across the board to put Korea in line with those markets. Finally, on the employment front, all companies and ultimately all workers will benefit from a more reasonable approach to labor relations through the negotiation of contracts every few years rather than every year. Korea certainly has much going for it, as GM Daewoo's continued growth demonstrates. By fully taking advantage of all that this country has to offer and remedying the problems that are holding it back, Korea can step from the crossroads onto the path of sustained economic growth. And by driving its economy into the future, Korea in turn can ensure the long-term prosperity of the entire country and its people.