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Time to promote innovation Manufacturing sector needs to enhance technological prowess Korea s manufacturing sector propped up the economy last year amid the global business slump resulting from the fallout from the COVID-19 pandemic, according to a recent report. The global economy contracted 3.3 percent in 2020, but the local economy contracted a mere 1 percent thanks to its manufacturing industry armed with top-class competitiveness, thus minimizing the crisis caused by the prolonged outbreak, it said. The report, the Korean manufacturing industry s competitiveness shored up the economy amid COVID-19 crisis, released Wednesday by the Korea Institute for Industrial Economics and Trade (KIET), said it was impossible to overemphasize the importance and contribution of the nation s manufacturing sector. The U.N. Industrial Development Organization also ranked Korea s manufacturing competitiveness as the third highest in the world, behind Germany and China, based on its Competit

United statesSouth koreaKorea institute for industrial economicsUn industrial development organizationKorea instituteIndustrial economicsDevelopment organizationCompetitive industrial performanceஒன்றுபட்டது மாநிலங்களில்தெற்கு கொரியாகொரியா நிறுவனம் க்கு தொழில்துறை பொருளாதாரம்ஐ நா தொழில்துறை வளர்ச்சி ஆர்கநைஸேஶந்கொரியா நிறுவனம்தொழில்துறை பொருளாதாரம்வளர்ச்சி ஆர்கநைஸேஶந்போட்டி தொழில்துறை செயல்திறன்