Preview

BUSA 3000 South Korea

Better Essays
Open Document
Open Document
2081 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
BUSA 3000 South Korea
South Korea: Where Investment and Business Blossoms
Country Background
• Name of Country: South Korea
• Neighboring countries: China to the west, Japan to the east and North Korea to the north. Southern half of the Korean Peninsula, bordering the Sea of Japan and the Yellow Sea.
• Territorial size of South Korea: 96,920 sq km
• Population size: 48,860,500
• Political system: Democracy
• Current prime minister: KIM Hwang-sik
• Political party in power: Democratic United Party or DUP
• Form of law: Combination of European civil law, Anglo-American law, and Chinese classical thought
• Economic system: high-tech industrialized economy
• GDP and GDP per capita: $1.574 trillion; $32,100
• Major natural resources: coal, tungsten, graphite, molybdenum, lead, hydropower potential
• Major imports: machinery, electronics and electronic equipment, oil, steel, transport equipment, organic chemicals, and plastics. Its main partners are China, Japan, Saudi Arabia, and Australia.
• Economic integration organization: ASEAN (Association of Southeast Asian Nations
• Currency: South Korean won (KRW)

Introduction South Korea’s perfect location for trade has made businesses attractive to investors coming from all over the world. Their favorable location in the southern half of the peninsula, has given the nation a tremendous advantage for international business. My paper will discuss why despite the global recession, businesses should invest in the golf market in South Korea. The reasons for these are: government policies that support growth in this sector (ASEAN, FTA, EU), a cultural obsession with the game of golf and the growth of businesses investing in South Korea. Before developing my thesis, I think it is important to provide a historical overview of South Korea and its start of successful economic rise. South Korea was an independent Kingdom for a long time until it was occupied by Japan in 1905. Korea regained its independence in 1945 with the


Cited: Kim, Myung Oak, and Sam Jaffe. New Korea : An Inside Look At South Korea 's Economic Rise. n.p.: AMACOM, 2010. eBook Collection (EBSCOhost). Web. 8 Nov. 2012. "INVEST KOREA." INVEST KOREA. Korea 's National Investment Promotion Agency, 8 Nov. 2012. Web. 08 Nov. 2012. . Parker, Philip M. "The 2011 Import And Export Market For Golf Equipment In South Korea." Country Trade Reports (2010): N.PAG. Business Source Complete. Web. 8 Nov. 2012. United States. Central Intelligence Agency the World Factbook. Policymakers. CIA. Office of Public Affairs, 5 Nov. 2012. Web. 08 Nov. 2012. . United States. US Embassy in Seoul. Business. Doing Business in Korea. US Commercial Service, 15 Mar. 2012. Web. 08 Nov. 2012. . Why Korea? Dir. TradeGov. Perf. John Fogarasi. YouTube. YouTube, 17 June 2010. Web. 08 Nov. 2012. . Morgan, Giles. "Golf 's 2020 Vision: The HSBC Report." HSBC. The Group Head of Sponsorship and Events, Mar. 2012. Web. 15 Nov. 2012. .
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Powerful Essays

    WGU EGT Task 4
    • 2194 Words
    • 7 Pages

    WGU EGT Task 4

    Perkowski , J. (2014, July 22). Negotiating In Korea: 10 Rules for Success. Retrieved August 15, 2014, from http://www.forbes.com/sites/jackperkowski/2014/07/22/china-auto-update-2014-first-half/…

    • 2194 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Good Essays

    EGT1 Task4
    • 928 Words
    • 4 Pages

    EGT1 Task4

    In Asia, Korea is becoming a super power and is challenging the world economic leaders. The Asian market has under gone massive social and economic changes at a staggering rate. Korea’s economic growth has grown substantially in the last four decades. Based on statistical analysis, Korea could potentially overtake the United States (global economic leader) within a few decades becoming the world’s largest economy in terms of gross domestic production.…

    • 928 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Compare and Contrast the East Asian Stste Guided Economics and American Market Driven Economics
    • 261 Words
    • 2 Pages

    Compare and Contrast the East Asian Stste Guided Economics and American Market Driven Economics

    Over the last two years, South Korea’s economy has recovered from the 1997 East Asian economic crisis faster than anyone expected. Indeed, Korea has become the new poster child for the “free market” economic restructuring the International Monetary Fund (IMF) is peddling to a…

    • 261 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Korean War Research Paper
    • 589 Words
    • 3 Pages

    Korean War Research Paper

    The Korean peninsula found itself in a situation much like Germany during the early years of the Cold War. Korea was under Japanese control until the surrender of the Japanese at the close of World War II. The 38th Parallel divided the Korean Peninsula into two halves. North Korea was under Communist control with the Soviets placing Kim Il-Sung as the leader. With Soviet assistance and training, Sung had quickly repressed the opposition in North Korea and solidified his control with Russian support. (1)…

    • 589 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Korean War Affected North Korea's Economy
    • 278 Words
    • 2 Pages

    Korean War Affected North Korea's Economy

    The Korean War destroyed most of the country’s economy (Ember 1206). North Korea relied heavily on foreign aid from countries like the Japan and the United States (1207). The estimated cost of the war was between 67 billion to 164 billion dollars (Fincher 42). In the late 1900s, floods caused a famine and dropped the country’s economy (Ember 1207). Food aid had been provided but not since 2009 (“North” Central). Poverty increased and with the lack of food, crime increased (Ember 1207). During the war, production of weapons increased while the production of goods decreased (Fincher 34). In effort of reestablishing the economy, North Korea reinforced the industry by making them owned by state (Ember 1206). Around the 1950s and 1960s, Kim II Sung…

    • 278 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    North Korean Authoritative Government
    • 1967 Words
    • 8 Pages

    North Korean Authoritative Government

    Federal Research Division Library of Congress. (1994). North Korea a country study (A. M. Savada, Ed., Fourth ed.). Washington D.C.: U.S. Government Printing Office. (Original work published 1994)…

    • 1967 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Good Essays

    How Did The Vietnam War Influence South Korea
    • 1025 Words
    • 5 Pages

    How Did The Vietnam War Influence South Korea

    Korea has constantly been a battleground for conflicting ideologies and nations, the most prominent of all was the division of the Peninsula into half. Right from the beginning, Korea was under China’s sphere of influence. When the Japanese became greedy for more resources and land, its first target was Korea since it was the closest to Japan. They then gained control of Korea after the First Sino-Japanese war in 1895. Thereafter defeating Russian 1904, who wanted Korea to defend its interest in Manchuria, and using its victory to annexed Korea in 1910.…

    • 1025 Words
    • 5 Pages
    Good Essays
    Read More
  • Best Essays

    Korea under Japanese Rule
    • 1138 Words
    • 5 Pages

    Korea under Japanese Rule

    The Korea’s colonial period spans a time frame of 35 years from 1910 to 1945 until Japan was defeated in World War II. It started with the Eulsa Treaty also known as Japan-Korea Protectorate treaty which is signed between Empire of Japan and the Korean Empire on 17 November 1905 by the influence of Russo-Japanese War. This treaty effectively made Korea a protectorate of Japan. Immediately after that, on 22 August 1910 the Japan-Korea Annexation Treaty was signed, which officially unveiled Korea’s colonial period.1 The impacts of the colonial period on Korea can be discussed in three different aspects, namely infrastructure development, economics, education and culture.…

    • 1138 Words
    • 5 Pages
    Best Essays
    Read More
  • Better Essays

    A Country Divided: A Cultural Background Of The Republic Of Korea
    • 1219 Words
    • 5 Pages

    A Country Divided: A Cultural Background Of The Republic Of Korea

    The Korean peninsula extends about 1,100 km from the southern part of the Asian mainland and South Korea occupies the southern portion with…

    • 1219 Words
    • 5 Pages
    Better Essays
    Read More
  • Best Essays

    SOUTH KOREA GLOBALIZATION IMPACT
    • 4773 Words
    • 20 Pages

    SOUTH KOREA GLOBALIZATION IMPACT

    Kim, S. (November 3, 2008). South Korea Plans 14 Trillion Won Stimulus in 2009 (Update3) Bloomberg. Retrieved from: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=au_aCj.eWwIE&refer=home…

    • 4773 Words
    • 20 Pages
    Best Essays
    Read More
  • Best Essays

    South Korea: Country Attractiveness Report
    • 1853 Words
    • 8 Pages

    South Korea: Country Attractiveness Report

    Thanks to the globalization, Asian economy is drawing more and more the attention of the rest of the world. Nevertheless, when we talk about economic growth in Asia, we think mostly about China, India or Japan whereas South Korean economy is staying quite unknown in Belgium. However, since the war in the Korean peninsula and the formation of the Democratic People's Republic of Korea (North Korea) and the Republic of Korea (South Korea) in 1948, South Korea has becoming a major economic power. Indeed, South Korea ranked fifteens (in terms of GDP) among the best world’s economies and fourth among Asian economies in 2009. To reach this, the Korean economy has experienced three development stages since the end of the Korean war: the economic autonomy increase from the ’50 to the ’60 in order to become less dependent on importations; the massive expansion of exportations during the ’70; the development of some industries form the ’70 until now to become one of the world leader in sectors like high technology, automotive, shipbuilding and steel industry. Furthermore, since the financial crisis of 1997, we can observe a decrease of the government intervention in the Korean economy and the development of a market-oriented economy. But South Korea is currently facing important difficulties like the lack of raw materials, the small size of the country, the competition with Chinese and Japanese industries and the political and military issues with North Korea. The purpose of this paper is to study the economic attractiveness of South Korea based on the “Diamond Model” framework of Porter (1998). We will also examine the main industries, the balance of trade and the political and commercial risks of investing in South Korea.…

    • 1853 Words
    • 8 Pages
    Best Essays
    Read More
  • Good Essays

    Doing Business in Korea
    • 841 Words
    • 3 Pages

    Doing Business in Korea

    Korea is known as a country that showed miraculous economic growth, and considered one of the four tiger economies of Asia. Since the 1950s, South Korea has built a modern, internationally oriented industrial economy largely from scratch. This economy, the fourth-largest economies (after China, Japan and India) in Asia (World Bank 2014) is based on low –cost, high quality export production. Between the late 1980 and 1990s, the country has seen a massive influx of FDI projects to the South Korea, and recorded an increase quadruple the foreign investment projects during the previous 35 years (Kim & Lee 2007). This outcomes is generally attributed to the country’s transition to a more open and democratic political system after years of authoritarian rule, with a pro-business government. However, these changes have also posed a number of latent tremendous challenges to the international business operating in South Korea, which include overregulation, rising labour cost, and corruption…

    • 841 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Management and Teaching Note
    • 19512 Words
    • 79 Pages

    Management and Teaching Note

    207-061-4 CURRENCY APPRECIATION AND SOUTH KOREAN ECONOMY: SHIPBUILDING INDUSTRY AT THE CENTRE OF THE STORM? Structured assignment Gonela, SK; Kompella, R IBSCDC 14pp; Teaching note 207-061-8 (11pp) 207-053-1 DELL: SELLING DIRECTLY, GLOBALLY (2007) Farhoomand, A; Wang, HI Asia Case Research Centre, The University of Hong Kong 25pp; Teaching note 207-053-8 (8pp)…

    • 19512 Words
    • 79 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    South Korea a Vacation Destination
    • 2409 Words
    • 10 Pages

    South Korea a Vacation Destination

    The government of South Korea was established under the Constitution of the Republic of Korea and is set up similar to the United States government. In that their government is broken into three branches the executive, the judicial, and the legislative branches. Furthermore the local governments are set up similar by having executive and legislative branches also. This form of government was chosen because the people like the checks and balances built into the system. A Prime Minster is the head of the country and they have 17 ministries, what we call secretaries, which support the Prime Minister.…

    • 2409 Words
    • 10 Pages
    Better Essays
    Read More
  • Good Essays

    North Karelia University of Applied Sciences
    • 782 Words
    • 4 Pages

    North Karelia University of Applied Sciences

    South Korea is country in Eastern Asia, occupying the southern part of the Korea Peninsula; with the official currency is Won (KRW). Its borders are Sea of Japan, the Yellow Sea and North Korea. South Korea’s terrain is mainly mountainous. The government system is a republic, with the head leader of it is Prime Minister, and the chief of state is the President. The economic system of South Korea is a mixture of different kinds of private freedom, combine with the centralized economic planning and government regulation. South Korea is a member of Asian Pacific Economic Cooperation (APEC).…

    • 782 Words
    • 4 Pages
    Good Essays
    Read More

Related Topics