후발주자의 추격과 추락: 중국 굴삭기 시장에서의 기회의 창과 중국과 한국의 전략적 대응에 관한 연구

초록

Why Korea has faced a sharp decrease in market share, in other words, falliing behind and by contrast, how China has achieved a rapid growth of market share, in other words, catch-up in the Chinese excavator market? This study utilize ‘catch-up cycle’ theory that consists of the combinations of three windows of opportunity, which are technological, demand, or policy and institutional and the strategic responses of the firm and industries to investigate the question. We found that Chinese excavator industry achieved successful catch-up by strategically responding the opening of the windows of opportunity, such as modularization of the excavator architecture (technology), policy support by Chinese government includes the nurture of the construction sector, the elimination of import duties on core parts, and local-standardization of peripheral parts (policy-institutional), and the radical growth of mini and small excavator segment (demand). Meanwhile, Korean excavator industry fell into an inertia originated from the existing successful strategy and thus, it underestimated the impact of modularization of the architecture and focused on the existing segment such as midium and large excavator. Eventually, the Korean has fallen behind from the market. Our findings contribute to the development of ‘catch-up cycle’ theory as well as provide initial guidelines for strategies and policies settings to overcome the crisis of industry due to the fast catch-up of China and other latecomers in various manufacturing sectors of Korea.

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