Changes in Korea's Trade Structure Due to the Covid-19 Pandemic

Abstract

Purpose: The COVID-19 pandemic was not a problem in any particular country or a microscopic problem limited to any one field. Human beings around the world have faced the risk of infectious diseases and all countries around the world have implemented policies to respond to them. This study attempted to respond to changes in the international trade environment in the post-COVID-19 era by realistically and objectively grasping and analyzing the product trade structure after COVID-19. Research design, data, methodology : Commodity trade conditions and trade patterns due to the COVID-19 pandemic were analyzed, and how these various situations due to COVID-19 affect the trade structure were analyzed. Results : As a result of the analysis of the trade structure caused by the COVID-19 pandemic, it shows a different market share, trade concentration index, and trade specialization index than before the pandemic. This phenomenon is generally seen in countries such as China, the United States, Vietnam, Japan, India, and Singapore, which are major trading partners of Korea. Conclusions : As the export specialization of machinery and electrical equipment, Korea's main export items, is decreasing, it is necessary to accurately identify the causes and reasons of the weakened product line at the corporate level and establish a response strategy. In addition, it is necessary to establish various support measures to strengthen Korea's export competitiveness in preparation for the post-COVID-19 era.