LET’S BENCHMARK
South Korea South Korea is perhaps most known in manufacturing for its biopharmaceutical industry. 2010 saw the South Korea government provide both capital and regulatory support in attempts to boost the industry. They have also set an ambitious yet at this rate achievable
target for Korean pharmaceuticals to capture 22% of the global biosimilars market share by 2020. Samsung is one of the prominent players in the sector, and it announced earlier this month that is plans to open its third biologics manufacturing plant in the country.
19% of Japan’s GDP comes straight from manufacturing. Recently all three subsectors of the manufacturing industry— consumer goods, intermediate goods, and investment goods— saw substantial growth. The country also has high
hopes for its aviation industry, with growth expected. One recent milestone in the sector saw Mitsubishi Aircraft Corp’s new jet embark on its maiden flight, fifty years after the country last introduced a new passenger plane.
Japan
PSE MAGAZINE • 40
India
Companies should no longer only consider India as a supplier of software and call centre services. India is the third-largest economy in purchasing power parity after the U.S. and China and additionally it has a large population of engineers and factory workers. Its intellectual property is also widely respected, and it is easy to find plenty of English-speaking managers there. One example of a large multinational finding India attractive is Abbott Nutrition, who recently built a manufacturing facility in Jhagadia, Gujarat, in order to compete in India’s large growing nutrition market.