2030: Korea Headed Toward Nuclear Reactor Supplier, More (Financial Well Being‪)‬

Reviewed By Loyd E. Eskildson Business Week's April 8, 2010 issue carries an excellent article on current Korean successes, fueled by prior worry that lower-cost Chinese and more experienced Japanese producers would eat away at Korea's economy. That concern, backed up with actions, has helped enable Korea to both boost trade and maintain a positive trade balance with both nations. Korea's Hyundai became the world's third-largest auto producer as its U.S. auto sales rose 7% last year in a down (-24%) market; it is also in second place among international car makers in China, ranks ahead of Toyota on J.D. Power initial ownership surveys, operates the world's largest integrated auto factory at Ulsan, Korea, and was named by Toyota as the automaker it most feared. Hyundai/Kia, together with sister company Hyundai Steel are also building new state-of-the-art eco-friendly steel plants for auto and ship-building that will substantially reduce imports from China and Japan. Together with Kia, Hyundai contributed $25 billion to the nation's 2009 export earnings.