...Strength 1. South Korea has a very high economic freedom. South Korea economic freedom score is 71.2 which makes its economy goes to the top 31st free economy in 2014. South Korea has improved on 0.9 point higher than last year due to their financial freedom and monetary freedom outweighing modest declines in business freedom, labor freedom, and fiscal freedom. South Korea is ranked 8th out of 42 countries in the Asia–Pacific region. 2. South Korea is moderately free of corruption. This makes South Korea a very clean place to conduct business where everything is fair towards the people which make it a very good place to conduct business if compare to country which has higher corruption rate. The Corruption Perception Index of South Korea is 5.60 out of 10; while countries in Asia score only 3.60 out of 10 and other all country corruption is 3.70 out of 10. This makes South Korea corruption level is lower than the other countries. It makes South Korea slightly better than the rest. Besides that, the Bribe Payer Index (BPI) of South Korea is quite high as it has score on 7.90 out of 10. This means that companies from South Korea are perceived as unlikely to engage bribery. 3. South Korea has a lot well educated labor which makes it easier to higher more labor to help them on their company. This is because South Korea has a very high education level. 4. The outbound travel market of South Korea is booming 5. Efficient in regulatory. In South Korea, you will only need...
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...Elaine Hannah Why Invest in South Korea? Elaine Hannah Why Invest in South Korea? Why invest in emerging markets? To cash in where growth is today, and for the foreseeable future. But success is only possible if you have chosen the right entry modes to your market and understand the environmental, political and sociocultural factors of the chosen host country. This report analyses South Korea and demonstrates this emerging market is there for the taking if approached with shrewdness. The South Korean Government, after the financial crisis in 1997, decided it needed to make its country attractive for foreign direct investment, which resulted in the release of the Foreign Investment Promotion Act in 1998. This opened up a passage for 99.8% of Korea’s industry for direct investment. This report looks at the successes and failures of FDI’s in South Korea referred to as Korea from hereon, and what business factors influence these outcomes. Global Business Project Lecturer: Enda Murphy Student: 1063289, 1602617, 1728607 No of Words: 6198 Why invest in emerging markets? To cash in where growth is today, and for the foreseeable future. But success is only possible if you have chosen the right entry modes to your market and understand the environmental, political and sociocultural factors of the chosen host country. This report analyses South Korea and demonstrates this emerging market is there for the taking if approached with shrewdness. The South Korean Government...
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...SWOT Analysis of South Korea Market Strength 1. South Korea has a very high economic freedom. South Korea economic freedom score is 71.2 which makes its economy goes to the top 31st free economy in 2014. South Korea has improved on 0.9 point higher than last year due to their financial freedom and monetary freedom outweighing modest declines in business freedom, labor freedom, and fiscal freedom. South Korea is ranked 8th out of 42 countries in the Asia–Pacific region. 2. South Korea is moderately free of corruption. This makes South Korea a very clean place to conduct business where everything is fair towards the people which make it a very good place to conduct business if compare to country which has higher corruption rate. The Corruption Perception Index of South Korea is 5.60 out of 10; while countries in Asia score only 3.60 out of 10 and other all country corruption is 3.70 out of 10. This makes South Korea corruption level is lower than the other countries. It makes South Korea slightly better than the rest. Besides that, the Bribe Payer Index (BPI) of South Korea is quite high as it has score on 7.90 out of 10. This means that companies from South Korea are perceived as unlikely to engage bribery. 3. South Korea has a lot well educated labor which makes it easier to higher more labor to help them on their company. This is because South Korea has a very high education level. 4. The outbound travel market of South Korea is booming 5. Efficient in regulatory...
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...International Telecommunications Union. 2003. Broadband Korea: Internet Case Study. South Korea Available at: http://www.itu.int/ITUD/ict/cs/korea/material/CS_KOR.pdf Viewed on 12/10/06 National Internet Development Agency of Korea. 2006. Korea Internet Whitepaper. Seoul, South Korea, Available at: http://eng.mic.go.kr/eng/user.tdf?a=user.board.BoardApp&c=2001&board_id=E_04_03&mc=E_04_03_01&ctx=annual_report Viewed on 9/10/06 National Computerization Authority. 2001. 2001 Korea Internet White Paper. Available at: www.nca.or.kr/white/data/2002engwhite/review.pdf Viewed on 12/10/06 DTI / Brunel University. 2002. INVESTIGATING BROADBAND DEPLOYMENT IN SOUTH KOREA: Broadband Mission to South Korea. Available at: www.broadbanduk.org/reports/SKorea_report.pdf Viewed on 08/10/06 Yun, K., Lee, H., Lim, S., 2002. The Growth of Broadband Internet Connections in South Korea: Contributing Factors. Available at: www.iisdb.stanford.edu/pubs/20032/Yun.pdf Viewed on 09/10/06 Communicaid Global Communication. 2006. Doing Business in South Korea. Available at: http://www.communicaid.com/south-korea-business-culture.asp Viewed on 08/10/06 World Broadband Yearbook 2006. 2006. Country Overview: South Korea. Available at: www.telegeography.com/products/broadband_yearbook/pdf/wb06_skorea.pdf Viewed on 08/10/06 Ministry of Information and Communication (MIC) and National Computerization Agency (NCA), 2002. 2002 Korea Internet White Paper. Avaliable at: www.mic.go.kr Viewed...
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...The Foreign Exchange Market of South Korea Brief Introduction of currency Won The currency used in South Korea is the Won, (sign: ₩; code: KRW), it can be further divided in 100 jeons, the subunit. Won has been existed for thousands of years in South Korean History. After the world war two, the Korea continent was divided into North Korea and South Korea. Both of the two countries have been using won as their currencies. The foreign exchange policy of won followed a pegging method to dollars before 1980. From 1980 to 1997 South Korea had initiated a series of actions towards floating exchange rate. During the East Asian financial crisis, the won was devalued at almost half of its original value. The monetary system The monetary system is basically consisting of four major government entities; “the Ministry of Finance and Economy (MOFE), the Bank of Korea (BOK), the Financial Supervisory Service (FSS), and the Korea Customs Service (KSS)” (Korea, South-Money). The bank of Korea, according to Savada and Shaw in their country paper on South Korea, is established as the central bank of South Korea and supervised all the financial transactions of diversified financial institutions. Its major functions also includes the issuance of currency, the determination on the monetary and credit policies, the collection and record of the statistics of overall economy, and the regulation of all private banks. It also closely partners with the central government for raising funds for public...
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...South Korea Market Strength 1. South Korea has a very high economic freedom. South Korea economic freedom score is 71.2 which makes its economy goes to the top 31st free economy in 2014. South Korea has improved on 0.9 point higher than last year due to their financial freedom and monetary freedom outweighing modest declines in business freedom, labor freedom, and fiscal freedom. South Korea is ranked 8th out of 42 countries in the Asia–Pacific region. 2. South Korea is moderately free of corruption. This makes South Korea a very clean place to conduct business where everything is fair towards the people which make it a very good place to conduct business if compare to country which has higher corruption rate. The Corruption Perception Index of South Korea is 5.60 out of 10; while countries in Asia score only 3.60 out of 10 and other all country corruption is 3.70 out of 10. This makes South Korea corruption level is lower than the other countries. It makes South Korea slightly better than the rest. Besides that, the Bribe Payer Index (BPI) of South Korea is quite high as it has score on 7.90 out of 10. This means that companies from South Korea are perceived as unlikely to engage bribery. 3. South Korea has a lot well educated labor which makes it easier to higher more labor to help them on their company. This is because South Korea has a very high education level. 4. The outbound travel market of South Korea is booming 5. Efficient in regulatory. In South Korea, you will...
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...Market Opportunity for Coopers Brewery in South Korea Korea is well known for its drinking culture. According to the latest data from World Health Organization on alcohol consumption in 2011, South Korea ranked 13, with a total alcohol consumption of 14.8 litres per capita, higher than United Kingdom, Germany, Australia and United States. However, beer only contributes less than 15% to the total consumption, while spirits are the most popular choice among Koreans.(WHO, 2011) Korean cultural has a long history of drinking tradition, with a great variety of tradition alcoholic beverages. Most of these traditional beverages, including Soju, a distilled spirit, are made from rice of sweet potatoes. They contain a very high alcohol by volume, generally around 30%-50%.(LIK, 2012) These tradition alcoholic beverages are especially popular among mid-age Koreans, however less attractive to young generations. Although it is believed that small volumes of alcohol might benefit health, data from South Korea National Health and Nutrition Examination indicates the clear relationship between alcohol use behavior and increased risk of hypertension, diabetes, dyslipidemia, abdominal obesity, and MetS among Korean population. Hence, beer is considered healthier. (Kim, 2011) Comparing to Yakju and Soju, beer has a much shorter history in Korea. It was first introduced into Korea by Japanese in early 1910s. Today’s Korean beer market is dominant by two local companies: Hite-Jinro and OB,...
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...Name: kwong ho man Student number: 8466975 Subject:fitH07 preventing and managing sports injuries CRN: 2414 Discuss Topic is knee injury muscle strain of knee injury Muscle Knee Injury (posterior femoral muscle strain, front thigh muscles strain, torn hamstring) is any injury to the hamstring, which is located in the back of the thigh. Hamstring play a role in straightening your hips and bend your knees. If the hamstring strength is less than 60% of quadriceps strength, the quadriceps will become stronger and can injure the hamstring. Ligament sprain of knee injury A Ligament is a short band of fibrous tissue that connects bone to bone. In some cases ligaments limit or prevent a particular movement in a joint. Ligament damage is a common knee injury and is usually the result of one, or a combination of, the following: * Blunt force to the knee * Sudden change of direction * Landing badly * Twisting at the knee * Hyper-extension of the knee Meniscus injury of knee injury A torn meniscus is a tear to the semi circular shock absorbing tissue in the knee joint. It is commonly injured through direct impact in contact sports or twisting but can also occur in older athletes through gradual degeneration.A meniscus injury is caused by trauma to the wedges of cartilage that lie between the shinbone (tibia) and thighbone (femur). Risk factors include twisting of the knee and age-related brittle cartilage.Meniscus tear injuries occur in most sports...
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...1. Do you think Walmart could translate its merchandising strategy wholesale to an other country and succeed? I do think Wal-Mart could translate its merchandising strategy to another country, but it would depend on the country. While Walmart might be able to successfully operate in some countries, it might fail in some. For instance, Wal-Mart translated its merchandising strategy whole sale to both Mexico and China and succeeded and yet they failed in South Korea and Germany. To succeed in a certain country, Walmart needs to understand the country’s culture, their customer’s purchasing habits and preferences as well as do some research on their competitors in that country before they enter into a new market. Without taking all these into consideration and adjusting their strategy to the particular market, Walmart could fail in that country. 2.Why do you think Walmart was successful in Mexico? When Walmart hit some headwinds in Mexico, they quickly discovered the differences between shoppers in Mexico and the US which is why WalMart adjusted its strategy to meet the country’s local conditions, first by hiring local managers who understood Mexican culture, and then letting those managers control merchandising strategy, building smaller stores that people could walk to, and offering more fresh produce. At the same time, the company believed that it could gradually change the shopping culture in Mexico, educating consumers by showing them the benefits of its American merchandising...
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...e-commerce business. To face the competitions from the companies in the same type, I agree with that they are going to make a virtual world to further reduce the competition. Moreover, while fighting to stay at the front line in Chinese e-commerce, Alibaba has ambitions of going international. Its initial strategy to bring Taobao abroad is clear: target Chinese users outside mainland China. As the mere description in Part 1, expanding to Korea with wholly owned model is the best way for a company like Alibaba. I think Alibaba’s main goal is maintaining their status in Asian by entering Korea. Alibaba’s intermediary model has replicability, which provides samples for other competitors to enter the industry, also increased their own competitors. It’s easy to enter the service industries with low barriers. Entering Korea could increase the popularity of Alibaba and bring more foreign capitals for them. With the international brand and huge capital’s help, Alibaba can beat new competitors easily. Moreover, with the China-South Korea Free Trade...
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...Professor Kaplan University 8/5/14 Unit 8 Assignment Zip-6 has a 7 year presence in Korea. They are now presented with some options to continue to play a role in this market. They can acquire the current firm that produces their product, repurchase their licensing agreement and sell it to another firm, or exporting the product to Korea. If Zip-6 acquires the Chang Dow Trading Company from Lotse Tsangsung, they will also gain some of the expertise that already exists at that firm. The current employees and management of the Chang Dow are familiar with the expectations of the Zip-6 product and the Korean market. There will be almost no training or equipment costs involved in this option. The Chang Dow may also present additional opportunities within the Korean market. The disadvantages to acquiring the Chang Dow are that Zip-6 will have to learn or hire a Korean expert to help ease the transition and communication between both firms. The cultural and language barriers will have to be overcome for this venture to be successful. Zip-6 will also have to learn the Korean market, and labor laws to ensure that everything can continue to run smoothly. Zip-6 can also buy their licensing agreement back and open their own plant in Korea. This will include a much higher start up and equipment cost that purchasing the Chang Dow. It will however give them their own presence in Korea, and not being tied to the reputation of another firm. If they decided to sell their licensing...
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...specific given country (South Korea), economic, socio-cultural and legal and political environment. Economic environment Past four decade South Korea showed an impressive growth as well as global integration to become a high tech industrialized economy. In past in 1960s, the Gross Domestic Product (GDP) per capita was compared to the poor countries (Africa and some parts of Asia), by 2004, it joined the trillion dollar club of world’s economies and currently in the top twenty largest economies (Globserver Asia, 2013). They achieved this by placing the system of close government and business ties, also including directed credit and import restrictions (Central Intelligence Agency, 2013). In 2012 due to the market slowdowns in United States, Eurozone and China, the economy has experienced slow growth. Though it is the 8th largest exporter in the world ($548.2 billion) which decreased 0.21% from prior year. The export goods are semiconductors, wireless communications equipment, motor vehicles, computers, steels, ships and petrochemicals (Central Intelligence Agency, 2013). In 2012 the country’s GDP was $1.622 trillion which ranks 13 on the world scale which increased 2.7% from previous year, and a GDP capita in US dollars was $32,400. The real GDP growth rate was 2.7%. The unemployment rate was 3.8% and the inflation rate was 2.2% (Central Intelligence Agency, 2013). Socio-cultural environment Main language spoken and written in South Korea is Korean. The religious belief...
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...that best fits in the local market. Apparently, the “U.S. style” does not work for all the countries. For example, Wal-Mart is famous for its low price strategy in the U.S. However, when it shifted its store with the same strategy to Germany and South Korea, it soon failed. People in the countries like Germany or South Korea do not care about the low prices as much as its target consumers in the U.S. do. What they care the most is if the store has higher quality products. So whether succeed in another country or not really depends on how well Wal-Mart understands the local consumer buying behaviors and how much they could change its merchandising strategy to fit in. As mentioned in the case, Wal-Mart hired local managers who knows well about Mexican culture to run the store, while built smaller stores with fresh food products for Mexican consumers so that they could simply walk in and get 1. Do you think Wal-Mart could translate its merchandising strategy wholesale to another country and succeed? If not, why not? No, I don’t think Wal-Mart could translate its merchandising strategy wholesale to another country and succeed because their merchandising strategy is based on the methods and culture of retailing of the United States. Also, as we learned in the text many countries and have different cultures and background so the company moving into a new country needs to adapt to the differences and find the right technique that works in that market as opposed to...
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...live in about 130 countries by selling its streaming service in India. The company’s CEO Reed Hastings mention that the company has logged its biggest gain since July 2015 surging 9.3 percent. Netflix went live in about 130 new countries including Russia, Poland and Singapore. India was the company’s biggest step for expansion in Asia but it was unable to add China in the list. The company has already operated in almost 60 markets including Europe and South America. Hastings positions Netflix’s online, on-demand service as a cheaper, more modern alternative to the pricey subscriptions for so-called linear TV, which he views as a fading business. Hastings also mentions that the company’s target was to achieve 80 percent of its subscribers outside the United States like Google. It is mentioned in the article that Netflix targets a total of almost 450 million subscribers in the world. The company despite going live in so many countries faces restrictions from operating in North Korea, Syria and Crimea. Netflix faces challenges to penetrate the Chinese market where it faces stiff competition from local businesses acquiring leading video streaming services in the country. The CEO says that he is continuing talks with China and is optimistic there will be something to look forward to. Netflix realizes the importance of China since it has one of the largest population using online streaming services. Narender Tankasala ntanka2@uic.edu...
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...valiant being who wants to save “mankind.” Ryoshun believed people should push themselves to the limit and never give up, whether it is military or civil duties. Later on, he discusses if a ruler doesn’t follow virtues of “human-heartedness, righteousness, propriety, wisdom, and good faith”, it is dangerous. These virtues are important principles of Buddhism. Additionally, trade was a significant way to spread Buddhism around Japan. Traveling Japanese merchants most likely learned about Buddhism because of their trips to Southeast Asia, where India resides. Britannica.com states, “Buddhism arose in northeastern India sometime between the late 6th century and the early 4th century BCE…. Spreading from India to Central and Southeast Asia, China, Korea, and Japan, Buddhism has played a central role in the spiritual, cultural, and social life of Asia.” The Korean and Chinese people practiced Buddhism, which was taken from India, so Buddhist priests from these countries travelled to Japan. Along with Buddhism spreading through trade, trade goods helped the Japanese economy. In chapter three of Louis G. Perez’s, “The History of Japan”, he wrote Chinese and Koreans traded brocades, silk, cotton,...
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