Korea’s export growth will accelerate over the next 15 years due to its strong research and development investment, according to research by HSBC.

The country’s R&D spending accounted for 3.7 percent of its gross domestic product in 2011, the highest among 25 global economies. Thanks largely to its effort to strengthen R&D, the country plays a “significant role” in the production of high-tech goods, HSBC said in its latest global trade report.

The bank predicted that would be high-tech more than 25 percent of goods traded by 2030 compared to 22 percent in 2013. And Korea’s exports are expected to rise at an average rate of 8 percent a year over the same period, the report said.

As the global economy becomes more knowledge-intensive, it is “essential” for countries to increase investment in research and education for future growth, said Martin Tricaud, president and CEO of HSBC Korea.

“Korea’s high levels of R&D spending mean it is well placed to stand up to the competitive pressures from the global economy,” he added.

(596story@heraldcorp.com)