https://www.koreatimes.co.kr/www/biz/2024/03/126_371682.html
Cheap Chinese goods seen as double-edged sword for Korean economy
Cheap Chinese goods are flooding into Korea amid the growing presence of Chinese e-commerce platforms, creating both favorable and unfavorable circumstances for the Korean economy as it tries to lessen reliance on China, according to scholars and consumer
www.koreatimes.co.kr
Cheap Chinese goods are flooding into Korea amid the growing presence of Chinese e-commerce platforms, creating both favorable and unfavorable circumstances for the Korean economy as it tries to lessen reliance on China, according to scholars and consumer groups, Friday.
double-edge sword 양날의 검, (긍정과 부정의) 양면성을 지닌 상황
dichotomy 양분, 이분
ambidexterity 양손잡이, 비범한 손재주, 표리부동
cheap = low-priced = inexpensive 저가의, 염가의
flood into = crowd into = throng into = surge into = stampede in = make an inroad into = swarm into = swamp into = inundate with 몰려들다, 밀어닥치다
e-commerce platforms 전자상거래 플랫폼
favorable = conducive = good = advantageous = beneficial = well-disposed 유리한, 호의적인, 도움이 되는
unfavorable = disadvantageous = unpleasant = disagreeable 호의적이지 않은, 불리한
lessen = reduce = minimize = make less = diminish 줄이다, 감소하다
reliance on = dependance on ~에 대한 의존
China has been dumping goods on global markets to make its way out of weakened domestic consumer demand in the middle of an economic slump. Under the circumstances, Korea has emerged as the center of transshipment of goods from China to third countries, mostly those in North America and Europe.
dump on global markets 글로벌 시장에 내던지다
make one's way 나아가다, 출세하다, 가다
out of ~중에서, ~가운데서, ~의 사이에서, ~에서, ~의 출신으로, ~의 안으로부터, ~의 바깥에, ~의 안에서 밖으로
weakened = weak = emaciated = lackluster = spiritless = dull = uninspiring = droopy = limping = stagnant = sluggish 약해진, 쇠약한, 침체된
economic slump = economic recession = economic stagnation = economic depression = economic downturn = economic doldrums = economic slowdown 경기 침체, 경기 부진
transshipment 환적, 옮겨싣다, 갈아다다
in the middle of = amid = amidst ~가운데, ~하는 중에
halfway through = midway through ~를 지나는 동안에, ~중간에, ~도중에
According to Incheon International Airport Corp., Friday, a total of 98,560 tons of foreign-made goods were transported by air from the airport in 2023, up 43.1 percent from 2022. Of the goods, 99.6 percent were originally shipped from China. North America accounted for 47 percent of the final destinations, and Europe made up another 31 percent.
Incheon International Airport 인천 국제 공항
a total of = the aggregate total of = in all = altogether = in total = in the aggregate = all told 총, 합계로, 다합해서, 총해서
be transported by air 항공편으로 수송되다
be shipped from ~로 부터 배송되다, ~에서 배송되다
account for = take up = occupy = be made up of = consist of = be composed of = constitute 차지하다, ~로 이루어지다, ~로 구성되다
final destination 최종 목적지
"Such logistical importance of Korea is a plus factor, especially considering China's economic slowdown is likely to go for next couple of years and that Chinese manufacturers are likely to export more cheap goods," Lee Hun-soo, an air freight logistics expert and professor at Korea Aerospace University, said.
logistical importance 물류상의 중요성
plus factor 플러스 요인, 플러스 알파의 요소
economic slowdown = economic slump = economic recession = economic stagnation = economic depression = economic downturn = economic doldrums 경기 침체, 경기 부진
for the next couple of years 앞으로 몇년동안
air freight logistics 항공 화물 물류
He referred to the International Monetary Fund's February report, which forecast the growth rate of the Chinese economy to decline further to 3.5 percent by 2028 from 5.2 percent in 2023. "Although not intended, China's export of low-priced items is certainly boosting Korea's logistics industry," the professor added.
refer to 언급하다, 지칭하다, 회부하다, ~에 돌리다
International Monetary Fund 국제 통화 기금
forecast the growth rate 성장률을 예측하다, 성장률을 전망하다
forecast = predict = look ahead = foresee = conjecture = surmise = assume = expect = anticipate = look forward to = await 예상하다, 전망하다, 추측하다, 추정하다
low-priced items 저가 상품
boost = encourage = buoy up = cheer up = invigorate = vigorate = breathe life into = bring life to 북돋우다, 활기차게 하다, 활기를 불어 넣다
Apart from transshipments, Chinese online shopping platforms, like AliExpress and Temu, have been making rapid inroads into Korea with a wide range of items that are offered cheaper than Korea-made goods. This includes a wide range of items, some popular ones being apparel, kitchenware, toys, electronic devices, sports equipment and construction tools. The number of AliExpress users in Korea surged to 8.18 million in February from 3.5 million a year earlier.
apart from = other than = aside from = but for = excepting = besides = excluding = except for = save for ~을 제외하고, ~외에
transshipment 환적, 옮겨싣다, 갈아다다
online shipping platforms 온라인 배송 플렛폼
rapid inroad into = rapid foray into ~로의 진출, ~로의 침략
a wide range of = diverse = miscellaneous = varied = various = a large range of = multifarious = variegated = assorted = manifold 다양한, 여러가지의
apparel = wordrobe = clothes = clothing = garment = attire = dress = wear = gear = costume 의상, 옷, 의복
kitchenware 부엌용품, 주방 용품
surge = go through the roof = soar = increase sharply = jump = burgeon = skyrocket = roket = mushroom = proliferate = multifly 증가하다, 급증하다
Regarding Temu, it only advanced to Korea in July 2023, about five years after AliExpress did so. Nevertheless, Temu managed to attract more than 5 million in the first year of doing business in Korea. Consequently, China surpassed the United States to become the top direct purchase choice for Korean online shoppers.
advance to = make an foray into = make an inroad into ~에 진출하다
manage to 해내다, 성공하다, 가까스로 해내다, 간신히 ~하다, 그럭저럭 ~하다
direct purchase 직구, 직접 구매
surpass = exceed = outstrip = outdo = outperform = outrun = overrun = over take = transcend = beat 능가하다, 초월하다, 넘어서다
consequently = as a result = in consequence = as a consequence 결과적으로, 그 결과
Out of the total 6.75 trillion won ($5.01 billion) spent by Korean shoppers on overseas direct purchases, China accounted for 3.28 trillion won, or about 48 percent, in 2023. The Korea National Council of Consumer Organization, a Seoul-based advocacy group for consumers, assessed China's "export of deflation" has a positive aspect for budget-conscious Korean households in the era of high inflation.
overseas direct purchases 해외 직구
account for = take up = occupy = be made up of = consist of = be composed of = constitute 차지하다, ~로 이루어지다, ~로 구성되다
national council = parliament = congress = assembly 의회, 국회
advocacy group 변호 단체
have a positive aspect 긍정적은 면을 가지고 있다
budget-concious 예산을 신경쓰는, 가격을 중시하는
price-conscious 가격에 민감한, 가격을 따지는
in the era of high inflation 고물가 시대에, 높은 인플레이션 시대에
While many Koreans favor these Chinese online shopping platforms in the middle of the high cost of living, some experts warned that the shopping trend may deal a blow to Korean manufacturers, as many of them are small and medium-sized enterprises (SMEs) and lag behind Chinese rivals in terms of cost competitiveness. "SMEs may shut down operations and go bankrupt in the worst case, as the door is now open wider for more cheap Chinese goods to come into Korea," Jeong Eun-ae, a Korea Small Business Institute researcher, said.
favor = support = stand with = side with = take sides = take one's side = take one's part 지지하다, 선호하다, 편들다
in the middle of the high cost of living 높은 생활비 시대에, 높은 생계비 가운데
warn that = caution that = give a warning signal = give an alarm = alert = give an alert = tip off = inculcate = admonish 경고하다, 주의를 주다, 경볼르 알리다
deal a blow to = hit = strike a fatal blow to = strike a mortal blow to = wreak havoc on = pose a threat 타격을 주다, 치명타를 입히다
lag behind = be behind = fall behind 뒤쳐지다
cost competitiveness = cost leadership 가격 경쟁력
shut down operations = close down operation 영업을 중단하다
go bankrupcy = go under = go broke = go into insolvency 파산하다, 도산하다
stay afloat = keep afloat 빚지지 않고 있다, 물에 떠 있다
in the worst case = in the worst scenario 최악의 경우에는
Dankook University business administration professor Jung Yeon-sung viewed that China may "exploit its leverage in Korea's online shopping market to take economic retaliation," as witnessed in China's sharp response to a U.S. THAAD missile shield being deployed in Korea in 2017.
exploit one's leverage 영향력을 악용하다, 영향력을 이용하다
leverage = influence = clout = orbit 영향력, 영향권
take economic retaliation 경제보복을 하다
as witnessed in ~에서 경험했듯이, ~에서 목격했듯이
be deployed 배치되다, 이용되다
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