South Korea recently suggested that the South Korean companies should focus on China's domestic demand, urbanization and environmental protection. China's urbanization will bring revenue growth and growing middle class, domestic market and the service industry will be rapid development. This will bring the development in food, cosmetic, automobile, IT, culture and other industry. In addition, the one child policy easing will greatly stimulate the demand in infants, pregnant women supplies.
In the process of urbanization, related to the smart city, such as consulting and engineering services, intelligent transportation network, metro automatic payment systems, energy saving system of ICT and other will also become a sunrise industry. The chief researcher pointed out that the change of China's development model will bring new opportunities for the South Korean companies, they need to rapidly adjust the export structure in China for domestic consumption structure, efforts to enter the Chinese services market.
Written by Dora Men
