Minister of Trade, Industry and Energy Yoon Sang-jick presents an award to one of prize winners at the 40th Korea National Quality Award Convention. (photos: KSA)

Of late, word is circulating anew that the Korean economy is situated in “a nut in the nutcracker,” alluding to Japan’s recovering competitive edge vis-a-vis Korea thanks to a low yen and China’s ascent.

Samsung Electronics saw operating profit for the 3rd quarter of the year plunging 60 percent over the same quarter of last year, whereas Xiaomi of China ranked 3rd following Samsung and Apple in terms of market share. How can the stalemate be overcome, then? The answer is quality management. We have so far managed to tide over numerous crises by building an industrial foundation through the enhancement of quality. Now is the time when the nation has to elevate quality levels a step higher to reach the next breakthroughs. 

Korea has made strides over the past 40 years. The nation witnessed the value of trade, which stood at a paltry $1 million in 1974, has now surpassed the $1 trillion mark. Strenuous efforts to attain quality have led not only to industrial development, but also it is synonymous with the history of the nation’s economic development. The sweat of industrial efforts to enhance quality has earned a reputation for the brand “Made in Korea.” In the middle of these moves are nationwide quality management activities such as the Korean Standard Ｐ system, quality group competitions and national quality awards. In particular, the Korea National Quality Award Convention, now being held since 1975, is designed not only to boost awareness toward quality among companies, but also to encourage the efforts of workers. 

In the pursuit of quality to advance Korea to $40,000 per capita income, what will be next? While visiting Italy recently, we toured a global fashion leader, realizing premier quality with creative ideas. We have to pursue world-premier quality. The past quality activities were geared to adapt to a given environment fast to chase advanced countries, but we have to turn our attention to quality leadership for leading innovation down the road. 

The nation aimed at upgrading fault-zero quality levels to achieve $1 trillion in trade, but we have to adopt world-premier quality levels to reach $2 trillion in trade. Not only some conglomerates, but also SMEs and all the citizens, will have to join forces. The future of the nation will hinge on Koreans’ attaining bigger quality management goals than others. 

Korea and China have concluded negotiations on a free trade agreement (FTA). Korea has become the first country among the global top 10 trading powers to seize new opportunities by setting up an FTA network with the United States, EU and China. If Korea occupies the huge Chinese domestic market and makes the most of the Korea-EU FTA and Korea-U.S. FTA – based on world premier quality – the nation will become a hub for the global economy, getting it out of the nut-cracker situation we currently find ourselves in. 

It’s time to challenge for a better future. 

Those who have won awards at the 40th Korea National Quality Award Convention will be the very people who will make world premier quality products through creation and passion. We expect heightened quality awareness will lead to an environment where preferential quality rules, and these challenges will likely make Korea a globally recognized nation.