중국 자동차 부품 기업의 공급망 재편과 역사적 진화: 원찬그룹 사례를 중심으로

초록

This study examines China’s Wencan Group to elucidate how a latecomer firm achieves “non-dependent growth” under conditions of “institutional deficiency” amid the ongoing shift toward automotive electrification. Integrating perspectives from business history and supply chain management (SCM), the analysis shows that Wencan mobilized the “paradox of deficiency” as a strategic mechanism and advanced through three sequential leaps: (1) building trust capital by signaling commitment through high-risk investments in asset specificity (1998~2017); (2) securing global proximity and delivery immediacy through strategic asset-seeking cross-border M&A (2018~2020); and (3) physically reducing supply chain complexity—and thereby mitigating the bullwhip effect—by pioneering gigacasting and implementing a factory-in-factory model (2021~ present). Importantly, the firm’s financial volatility in 2025 is interpreted not as a performance downturn but as a “strategic exploration cost” (i.e., a J-curve effect) that accompanies the transition from sequential to reciprocal interdependence. By tracing the micro-mechanisms through which supply chain power shifts occur during technological transitions, this case provides corrective evidence for East Asian dependent-growth theories.

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