Noida Mobile Factory – Samsung, South Korea Eye to Fleece India

News : Samsung expands its mobile manufacturing facility in Noida

Views :

“enlarging South Korea’s footprint in the world’s third biggest consumer market by purchasing power to peddling wares to the world’s largest arms importer,” – that is India

“The country’s chaebol-centred crony capitalism spawned an influence-peddling scandal that cost Moon’s predecessor her job. [Samsung is one of the chaebols].”

“Moon’s India visit was part of his effort to tide over such challenges. From enlarging South Korea’s footprint in the world’s third biggest consumer market by purchasing power to peddling wares to the world’s largest arms importer, Moon sees India as central to NSP’s success.”

“South Korea has a high trade-to-GDP ratio, a good indicator of how vulnerable any country is to the dips and dives of the global economy. Ongoing changes in global market conditions, including US protectionism and the US-China trade war, will likely hit the South Korean economy harder than less export-dependent economies. For example, a deepening slowdown in China brought about by US tariffs would undermine South Korean exports to China, thereby further depressing South Korean growth.”

“South Korea is too heavily dependent on one market — China’s market — a factor that arms Beijing with considerable leverage over Seoul. Diversification is essential to a hedging strategy. And hedging is at the heart of Moon’s NSP.”

“There isn’t much room to expand Seoul’s already well-developed relations with China, Japan and the US. In fact, with new issues cropping up in ties with China and America, export-driven South Korea must find new markets to cut reliance on its top two trade partners. Moreover, despite increasing exports of semiconductors and electronics, South Korea’s economic growth has slowed, presenting it with important challenges.”

“Moon is targeting economies with the greatest growth potential: Several Asean economies and India are projected to grow at annual rates more than double that of South Korea in the coming years.”

Why Korea Courts India: India gains importance for Moon as Korea’s ‘miracle economy’ starts to face new challenges