...An Economic Comparison of Japan 日本国 And South Korea 대한민국 Introduction South Korea and Japan have had a close relationship from ancient history to the present day. Because of this reason, their economic growth and development have similarities and disparate differences. This paper will discuss some of the two countries’ major characteristics including geographic, social, and political characteristics and look at their histories and economies. Another reason that it is natural to compare them is their economic growth has mirrored one another. Both emerged from a war with its economy devastated and its infrastructure in ruins. Both countries changed with the economic climate of the time and took advantage of foreign investment in order to rebuild. Finally, both countries used their strengths to develop their economies to the point that they are world leaders in their field. Finally, both counties enjoy close political and economic relations with the United States, with each country being among our Top 10 largest trading partners. We have been a good friend to both, which has helped to stabilize relations in the regions between the two. Brief History (Since World War 2) The Korean Peninsula was occupied by Japanese forces for 35 years, from 1910 until the end of WW2 in 1945. Due to existing agreements, Japanese forces in Northern Korea surrendered to the Soviets and those in South Korea to the United States. The Korean War (1950-1953) was an attempt...
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...Bringing Western Culture to South Korea via Nursing Home, Plastic Surgery, Clothing and Makeup Jacob Schwarz Executive Summary My reason for writing this study is to determine the feasibility of building a nursing/retirement home, a plastic surgery outpatient center, and a cosmetic and clothing store in Seoul, South Korea. In my opinion, South Korea is welcoming to this venture; this can be seen in the upcoming research. In this report, I explore the geography of Seoul, South Korea. I learn of the growing, large, population and the population density of 45,000 people per square mile (“Population Statistics,” 2013). Next, I review the demographics and find out that minority groups consist of 2.2% of the population (Population Statistics, 2013). While reviewing the demographics I found that the education system is extremely strict; though it is more lenient now, it is still success driven (Chakrabarti, 2013). I also found that religion is not going to be an issue with this venture, in my opinion. There are two major religions; the major Christian religion will be implemented in the venture (Koo, n.d.). Education and demographics are important to a global business venture, though I believe the economy is most important. I present information about South Korea’s economy, and how it has transformed from an aid recipient to a donor country (Globalization, n.d.). Here is where I mention the chaebol’s success, which accounted for 55.7% of South Koreas GDP in 2010 (Globalization...
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...Attainment of America’s Youth American students are not learning the skills and knowledge they need to succeed in today’s and tomorrow’s world, where technology and economies are increasingly interacting globally. U.S. students are continuing to trail behind their peers of industrialized nations, who have been dominating the academic achievement ranks, according to results from a key international assessment. In comparison, Finland, South Korea, and Singapore students are consistently the top performing students in the world according to their PISA scores. What is it that these three countries are doing that the U.S. isn’t, when it comes to educating their students? Compared to the U.S., Singapore, Finland, and South Korea only recruit teachers from the top 10% to 33% of their top high school and college students. And in the case of Singapore and South Korea, students attend school on average 60 more days a year than U.S. students. By implementing teacher reform and longer school year attendance, the U.S. can improve the educational attainment of its youth. Scores from the 2009 PISA (Program for International Student Assessment) show 15-year-old students in the U.S. performing about average in reading and science, and below average, in math (PISA 2009). The PISA exam is one of a handful of tests that compare educational levels across nations, and is considered to be the...
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...Comparison for political factor of USA and South Korea The formal of the government organization has the major effect on the political system, which is combination of political parties, legislative bodies, trade unions and lobby groups (Useem 2014). It is a complex system as well as who possesses the power, the government effects on the country economy and the evolved people, and ways of dealing with the unsustainable religious problems (Heywood 2012). Benefit * US’s open investment policies is none as the largest economy in the world (Cullingworth and Caves 2013). Undeniably. The US is giant power and energetically have a strong support for the free trading (Odell 2014). It is one of the freest market in the world (Caruso, Vohs et al. 2013). (Appendix 2) * Because of the solid democratic system of the United States government, it has one of the most attractive business and investment environment for FDI (Vadlamannati 2012). (Appendix 3)The United States is ranked as fourth compare 185 countries in the ease of doing business terms, since it has the most clear business regulations (Bank 2015). Moreover, USA has better FDI regulatory restrictiveness (Appendix 4). * The United States has prosperous free market with a essentially stable political system infrastructure which advantage the wealth with an opportunities for FDI (Wald and Calhoun-Brown 2014). Mainly, more freedom rising voice and answerability, fighting corruption, government efficiency, regulation excellence...
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...Global Business Cultural Analysis: Republic of Korea Abstract The purpose of this paper is to provide information to business professionals about the Republic of Korea, the Korean culture, and the peculiarities of conducting business in this country. The topics discussed include a brief historical background about the nation, its dimensions of culture, how these elements are integrated by Koreans, and a comparison between these characteristics and American culture and business practices. The paper examines the implications for US firms wishing to do business in Korea using Hofstede’s Dimensions of culture, a SWOT analysis, and FDI analysis. Keywords: culture, religion, Confucianism, innovation, export, KORUS FTA Historical Background of Korea The Republic of Korea (ROK) is commonly known as South Korea. For the remainder of this paper, the ROK will be synonymous with "Korea". Korea is located in northeast Asia on the Korean peninsula between the Yellow Sea and the Sea of Japan. It borders the Democratic People's Republic of Korea (DPRK), also called North Korea (nK), immediately to the north, across the 38th parallel. Korea's total land area is nearly 62,000 miles, slightly larger than Indiana (www.cia.gov). It has an ethnically homogeneous population of over 49 million people, 83% of which live in urban areas (www.cia.gov). According to legend, Korea's birth as a nation was in 2333 BC with its early inhabitants coming from and heavily influenced by China...
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...Global Business Cultural Analysis South Korea By: Erik Mays Liberty University BUSI 604 Dr. Romanoski May 9, 2014 Abstract In this research paper I will be analyzing the cultural perspectives of doing business in South Korea. In doing so, I will be answering the four major questions as it relates to the major Elements and Dimensions of culture in South Korea. Also, since the dimensions of culture in any nation are many, it is necessary to analyze each category that makes up the Dimensions of one’s culture, these categories have been in place for many years in any given country. If we simply consider the Dimensions of Culture in the United States alone, which range from Religion to our Ethical standards, it would be clear that there are many categories within each of those. Therefore, it is important to analyze each category in detail, in an attempt to determine exactly what it will take to do business in that country or any country across the globe. This research paper will attempt to identify those major elements and dimensions of culture in South Korea. Once these elements and dimensions have been identified, it would give a clearer picture on how South Koreans integrate those elements and dimensions into their everyday business. Also, when comparing South Korean and the United States culture and business, there would naturally be implications that should be considered for US businesses that want to do business in South Korea. This research will also address those...
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...Economic Growth 1978-2025: What We Know Today about China’s Economic Growth Tomorrow Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new economic superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past real GDP growth rates into the future, the size of the Chinese economy surpasses that of the U.S. in purchasing power terms around 2010. Such extrapolations can be supported by standard growth patterns identified in economic development and trade theories (structural change, catching up, and factor price equalization). They can also be supported by an explanation of China’s past GDP growth through growth of various labor variables, with a subsequent derivation of future GDP growth based on reliable information about future labor quantity and quality. China’s demographic changes and economic growth have a number of implications for China and the world. JEL codes: O1 (O10, O11), O4 (O40, O47), O53, J11, O3, I21 Keywords: economic growth, growth accounting, growth forecasts, development theories, human capital formation, education (all: China) Carsten A. Holz Social Science Division Hong Kong University of Science & Technology Clear Water Bay Kowloon Hong Kong E-mail: socholz@ust.hk Tel/Fax: +852 2719-8557 26 December 2006 (Incorporates minor revisions of the 3 July 2005 and 2 November 2005 versions...
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...usage in the 1970s, and is now the accepted term for government and academic research (Dacin and Hitt, 1997). Although this term allows for economists, sociologists, and statisticians to breakdown the different cultural groups found within the United States, one can delve much further into the evolution of the people we categorize as “Asian American.” In the following pages, we will attempt to explain our research findings on the evolution of one innergroup of Asian Americans within the United States, the Korean Americans. The issues raised will include: 1. An extensive overview of the history of the Korean immigration wave and assimiliation to U.S. culture including a description of their treatment 2. The transformation of their group’s values and customs over time 3. An in-depth analysis of their demographical locationing in the U.S. including any distinguishing trends 4. A discussion of the obstacles which these people have faced in relation to their progress in...
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...times, the history of Korea has been told in many ways and is still the subject of hot debate both inside and outside the Koreas. North and South Korea have different versions of the peninsula’s history, both of which differ in detail and perspective from histories written in China, Japan, Russia, and the USA. The following sections, which attempt to outline the history in a balanced way, are based on a variety of materials, including lectures attended in a special workshop on Korean culture at Korea University in the summer of 1997. Map of Korea The overall pattern of development in the history of the Korean peninsula is a process that begins with an unknown number of early tribal groups that populate the peninsula in prehistoric times, wandering out of Siberia and areas to the west. Over time, some of these groups form more complex societies that eventually result in early kingdoms that grow up on the peninsula; in some cases extending westwards into what is now Chinese territory. As time and events unfolded, these kingdoms were unified, though the borders and degree of unity have continued to change over time—down to today. Besides the obvious split between North and South Korea, cultural differences (including dialect, food, and local identity) exist between the various regions of the peninsula. In some cases these differences are enough to influence the results of political elections. Nevertheless, Korean culture is highly homogenous in comparison with China, and even Japan...
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...KOREA Managing International Cultural Differences Fall 2010 Introduction The Republic of Korea, also known as simply South Korea or even just Korea has an extremely long, rich, and varied history. Some Korean mythology has the origins of Korea dating as far back as 2333 B.C. The first settlements occurred 700,000 years ago. The Goguryeo kingdom prospered from 37 B.C. until they fell to an alliance of Silla and Tang forces in 668 A.D. The Unified Silla Kingdom promoted development of culture and arts, and the popularity of Buddhism reached its peak from 676 – 935 A.D. The Goryeo Dynasty was established in 918. Buddhism became the state religion during this time and greatly influenced politics and culture. The Goryeo Dynasty’s strength decreased gradually in the latter half of the 14th century. The Joseon Dynasty was formed at the end of the 14th century and during this time Confucianism became the state ideology. The Joseon Dynasty produced the Korean alphabet, which was invented in 1443. Their power declined because of the Japanese invasion of 1592. The Japanese annexed Korea in 1910 and the Korean people suffered under their rule until Japan surrendered in 1945 to the United States of America which ended World War II. The economic and business industry continued to develop and change throughout this long period of history in which Korea was alternately controlled, occupied, unified, invaded, at war, at peace and at a cease fire by and with various other...
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...339 What Is the K in K-pop? South Korean Popular Music, the Culture Industry, and National Identity John Lie* In the early 2010’s, the expansion of South Korean popular culture around the world is led by popular music, usually known as Kpop. In this paper I seek to answer two questions. First, what are the sources of its success beyond the South Korean national border? Secondly, what does it say about contemporary South Korean society and culture? Key Words: K-pop, Korean Wave, Hallyu, South Korean Popular Culture, Popular Music I. Introduction T he phenomenal success of the Korean Wave has generated collective celebration in South Korea.1 In the early 2010s, the national self* John Lie is C.K. Cho Professor of Sociology at the University of California, Berkeley, U.S.A. He received his Ph.D. in Sociology from Harvard University. His forthcoming books include The Global University and The Consolation of Social Theory. E-mail: johnlie@berkeley.edu. 1. The Korean Wave is the literal translation of the term which originated in China ( ; Hánliú). The first character refers to “Korea” and the second usually evokes “flow” or “current,” signifying “style.” The same Chinese characters KOREA OBSERVER, Vol. 43, No. 3, Autumn 2012, pp. 339-363. © 2012 by THE INSTITUTE OF KOREAN STUDIES. 340 John Lie congratulation is especially manifest for the popularity of South Korean popular music (K-pop), which has spread from neighboring Asian countries, such as Japan and...
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...unique aspects that are synonymous with the Asian nation that today is one of the leading economies in the world. Like other countries however, Japan has its history and the general information that one has to take a detailed look at in order to understand the nation well. Japan is an island nation that lies in the eastern side of Asia continent in the Pacific Ocean. It neighbors countries like China, North Korea, South Korea, and Russia which are to the east of Japan, while on the south it borders Taiwan. Japan stretches from Sea of Okhotsk in the north towards south up to the East China Sea forming a chain cluster of islands those total up to 6,852 islands that together are known as the Japanese Archipelago. Honshu, Hokkaido, Kyushu and Shikoku are the four largest islands in the mountainous nation of Japan accounting for around twenty seven percent of the whole land area. In total, Japan sits on 377,915 square kilometers with land forming 364,485 sq km and water occupying the rest 13,430 sq km. Comparing the area occupied by the whole of Japan to an equivalent in the U.S, it is said to be slightly smaller in size than the state of California. This island nation has a relatively long coast line that stretches for 29,751 km. Legendary stories trace the creation of the nation of Japan to a traditional god they referred to as then sun goddess. The rulers of the nation were said to be descendants of the sun goddess. The first recorded history of Japan indicates that habitation...
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...different societies can be compared and how their development can be linked to major social institutions. Introduction Organization Studies 1990,11/1:047-074 © 1990 EGOS 0170-8406/90 0011-0003 $1.00 The economic success of Japanese firms over the past 40 years has emphasized the viability of alternatives to United States management structures and practices, as well as highlighting the limited generality of the business strategy-structure relationships identified by Chandler (Alford 1976; Kagono et al. 1985: 99-110; Maurice et al. 1986). Whereas it may have seemed reasonable in the 1960s and 1970s to regard Japanese organizational practices and forms as temporary stepping stones on the path to 'modern', i.e. U.S., practices, their continuation and growing success in U.S. and European markets render such dismissal increasingly untenable. The failure of competitive pressures to generate isomorphic management structures and practices throughout successful firms in world markets (cf. DiMaggio and Powell 1983) is further emphasized by the distinctive nature of firms in...
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...America is known for its ability to be innovative and for its educational value. Some may argue that America has lost its competitive edge when it comes to education and innovation. Some may say that the Chinese are now the leaders in innovation and education. The Program for International Student Assessment, or PISA, collects test results from 65 countries for its rankings, which come out every three years. The latest results, from 2012, show that U.S. students ranked below average in math among the world's most-developed countries. They were close to average in science and reading (NPR, 2013). According to (Zakaria, 2011) in the 1970s, “California public schools were the envy of the world”. Currently, California public schools aren’t as great as they were in the 1970s. With the decline in the quality of teachers and curriculum California schools are suffering when it comes to national test scores and graduation rates. In addition, public schools across America suffer from low performing teachers and students. As stated by Zakaria, America has the shortest school days and school year in comparison to other countries. In other countries such as Finland and China longer school days and schools years have been proven to work in regards to the advancement of students. Also, with the requirement that all teachers have a master’s degree ensures that the students will have a high caliber teacher. Zakaria also stated that he believes that longer school days and a longer...
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...PROJECT REPORT ON MEDICAL TOURISM WITH REFERENCE TO INDIA Origin and Evolution of Medical Tourism Medical tourism is actually thousands of years old. In ancient Greece, pilgrims and patients came from all over the Mediterranean to the sanctuary of the healing god, Asklepios, at Epidaurus. In Roman Britain, patients took the waters at a shrine at Bath, a practice that continued for 2,000 years. From the 18th century wealthy Europeans travelled to spas from Germany to the Nile. Since the early nineteenth century, when there were no restrictions on travel in Europe, people visited neighboring countries in order to improve their health. At first, mere traveling was considered to be a good therapy for mental and physical well-being. In the 21st century, relatively low-cost jet travel has taken the industry beyond the wealthy and desperate. Later, mostly wealthy people began traveling to tourist destinations like the Swiss lakes, the Alps and special tuberculosis sanatoriums, where professional and often specialized medical care was offered. In this century, however, medical tourism expanded to a much larger scale. Thailand, followed by India, Puerto-Rico, Argentina, Cuba and others quickly became the most popular destinations for medical tourists. Complicated surgeries and dental works, kidney dialysis, organ transplantation and sex changes, topped the list of the most popular procedures. It was estimated that in 2002, six hundred thousand medical tourists came to Bangkok and...
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