American Fast Food in Korea

1. Base on market information for Asia Pacific, we can made conclusion that business future in Asian region has to have bright future. With 33% of the world's GDP and 50% of its population, Asia has emerged as a rapidly growing force in the global economy. Due to the cultural diversity, regulatory controls, growing base of consumer power and its own set of business "rules," the multinational corporations (MNCs) find it challenging to enter the Asian market successfully. Most MNCs are reassessing their existing strategies or formulating new strategies to sustain their growth (4). With regional exports exceeding $1.3 trillion, the East Asia and Pacific region’s share of trade in GDP is the highest in the world. (Global Development. Finance Report. 2006). The economy of South Korea has grown in the last 35 years. Per capita GNP only $100 in 1963, exceeded $20,000 USD in 2005. South Korea is now one of the world's largest economies (as of 2006, it is 14th in the world according to GDP). (2). If we will compare Korean market to East Asian countries (Exhibit 1 p.12).From report I have strong understanding that mane fast-food market in any Asian countries is in big cities. Let’s check urban population level in all Asian countries. Based on Exhibit 1 we can clearly see that Korea has one of the best Urban Population level-total population level 47.6 million and urban population is 82%. Check GDP and GNI level. We can see that Korean level one of the highest in the Asia. Nominal GDP (2005 est.): $811.1 billion. GDP growth rate: 2003, 3.1%; 2004, 4.6%; 2005, 4.0%. Per capita GNI (2004): $14, 162. (5). In 1997 Korea had some serious economic crises and faced sever difficulties. After some structural reforms in Korean government, economy starts to recovery. Already In 2001 Korea was 13th largest economy in the world with GNP of $398 billion. So based on all information from above I can make conclusion that Korea has good future and it is one of the most promising