December 14, 2015 09:36
Korea ranked fifth in terms of global competitiveness in the manufacturing sector, according to a report released by Deloitte Touche Tohmatsu last week based on a survey of some 550 CEOs and executives of global companies.
Korea was outpaced by China, the U.S., Germany and Japan.
Looking beyond the next five years, the report forecast that India, currently ranked 11th in this year's report, is expected to overtake Korea and climb to fifth place.
"If Korea wants to stay ahead of India after five years, it will have to make an immense investment in research and development," said Kim Kyung-jin, a head of the Korean office of Deloitt.
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