Country Notebook for South Korea
Country Notebook for South Korea
James Jones
Dallas Baptist University
Table of Contents Executive Summary 5 Culture Analysis 7 Introduction 7 Brief discussion of the country’s relevant history 7 Geography setting 8 Area Comparative: 9 Land boundaries: 9 Coastline: 9 Climate: 9 Elevation Extremes: 9 Natural Resources: 9 Natural Hazards: 9 Social Institutions 9 Family: 9 Education 10 Literacy Rates 11 Political System 11 Legal System 12 Six Basic Codes and Other Laws 13 Social Organizations 14 Religion 16 Living Conditions 19 Diet and Nutrition 19 Housing 20 Clothing 21 Recreation, sports, and other leisure activities 21 Economic Analysis 23 Introduction 23 Economic Statics Activity 24 Gross National Product 24 Minerals and Resources 24 Communication Systems 25 Working Conditions 26 Principle Industries 27 Foreign Investments 28 International Trade Statistics 29 Trade Restrictions 30 Labor Force 30 Inflation Rates 31 Developments in Science and Technology 31 Market Audit and Competitive Analysis 32 Product 32 The Market and Advertising 32 Compare to Competition 33 Works Cited 35
Executive Summary
In 1997, Outback entered the South Korean market through the franchise agreement with Aussie Chung Inc. Currently there are 101 Outback Steakhouse locations throughout South Korea. I recommend continued expansion in South Korea and would target the city of Busan in the southern region of the country. Busan is city with over 2 million in population with a highly educated population who have expendable income available for entertainment. South Koreans spend about 18 percent of their expendable salary on entertainment.
Outback Steakhouse if marketed properly could become the third place that educated working South Koreans frequent other than work and home. Koreans are big on freshness and most of their food is made from fresh products that are never frozen.
James Jones
Dallas Baptist University
Table of Contents Executive Summary 5 Culture Analysis 7 Introduction 7 Brief discussion of the country’s relevant history 7 Geography setting 8 Area Comparative: 9 Land boundaries: 9 Coastline: 9 Climate: 9 Elevation Extremes: 9 Natural Resources: 9 Natural Hazards: 9 Social Institutions 9 Family: 9 Education 10 Literacy Rates 11 Political System 11 Legal System 12 Six Basic Codes and Other Laws 13 Social Organizations 14 Religion 16 Living Conditions 19 Diet and Nutrition 19 Housing 20 Clothing 21 Recreation, sports, and other leisure activities 21 Economic Analysis 23 Introduction 23 Economic Statics Activity 24 Gross National Product 24 Minerals and Resources 24 Communication Systems 25 Working Conditions 26 Principle Industries 27 Foreign Investments 28 International Trade Statistics 29 Trade Restrictions 30 Labor Force 30 Inflation Rates 31 Developments in Science and Technology 31 Market Audit and Competitive Analysis 32 Product 32 The Market and Advertising 32 Compare to Competition 33 Works Cited 35
Executive Summary
In 1997, Outback entered the South Korean market through the franchise agreement with Aussie Chung Inc. Currently there are 101 Outback Steakhouse locations throughout South Korea. I recommend continued expansion in South Korea and would target the city of Busan in the southern region of the country. Busan is city with over 2 million in population with a highly educated population who have expendable income available for entertainment. South Koreans spend about 18 percent of their expendable salary on entertainment.
Outback Steakhouse if marketed properly could become the third place that educated working South Koreans frequent other than work and home. Koreans are big on freshness and most of their food is made from fresh products that are never frozen.
Cited: Countries and Thier Cultures. (2008, Feb). Retrieved Dec 1, 2011, from Every Culture: http://www.everyculture.com/Ja-Ma/South-Korea.html Exploring the Business Customs of South Korea Korea Legal System Overview. (2009, March). Retrieved December 1, 2011, from Korea Law: http://www.korealaw.com/sub/information/boardView.asp?brdIdx=1&mode=view&brdId=overview (2010, Feb) (2011, Dec 2). Retrieved Dec 1, 2011, from Kwintessential: http://www.kwintessential.co.uk/index.php Company Info Country Studies. (n.d.). Retrieved 11 28, 2011, from The Library of Congress: http://lcweb2.loc.gov/frd/cs/krtoc.html Korean Legal System Overview Reynolds, B. (2011, December 4). International Marketing Manager . (B. Leach, Interviewer) South Korea Zachary, L. (2011, December 5). Franchisee/Owner. (J. Jones, Interviewer)