Introduction The purpose is to analyse a 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
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BUSINESS CULTURE IN SOUTH KOREA Korean culture is heavily influenced by Confucian values and this shows in every aspect of life in South Korea. Authorities‚ seniors‚ and elders are always respected‚ and families and friendships are an extremely valuable part of life. South Korea is more conservative both in everyday life and business environment than the Western world but it should be considered as getting different opportunities to do business. Greetings and introduction If possible‚ the
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Investment South Korea is a role model country that has‚ over the past 40 years‚ successfully evolved into a country of notable economic growth. Possessing a highly achieving educational system‚ South Korea has emerged from a low-income‚ low education region to a thriving nation of scholarly professionals. High levels of education‚ a substantial domestic economy‚ and excellent profitability are elements that make South Korea an attractive site as a foreign direct investment. South Korea is recognized
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with this task. The user will not only benefit from the hundreds of hours that went into the methodology and its application‚ but also from its alternative perspective on strategic planning in South Korea. This report helps executives evaluate strategic investment and entry alternatives in South Korea. As the editor of this report‚ I am drawing on a methodology developed at INSEAD‚ an international business school (www.insead.edu). The methodology decomposes a country’s strategic potential along
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Response 1. What are your feelings after watching this candid documentary? A: I had a mixture of feelings. First‚ as an American‚ I thought that the entire piece was trash and clearly had an agenda. Second‚ as a follow-up response‚ I thought that North Korean leaders must really be crazy if they truly believe in everything they say in the film. If the population believes in Propaganda‚ then it is no surprise that the Kim regime has such an iron grip over the people. I had an interesting feeling
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Power distance At a score of 60‚ South Korea is a hierarchical society. This means that people accept a hierarchical order in which everybody has a place and which needs no further justification. Hierarchy in an organization is seen as reflecting inherent inequalities‚ centralization is popular‚ subordinates expect to be told what to do and the ideal boss is a benevolent autocrat Individualism South Korea‚ with a score of 18 is considered a collectivistic society. This is manifest
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Work: The Ministry of Labor in Korea has implemented a system in which all workers who do not miss a day of work in one week receive one paid holiday. Employees who do not miss a day of work in a full year are entitled to a 15-day paid vacation. Those who do miss days of work should expect a reduction in paid leave time. After the first year of work with a company‚ every two subsequent years translates into another paid holiday. Koreans use both the Solar and Lunar calendar which results in a
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VIew South Korea was the one of the poorest country in the world in 1953 and GNP per person was $67. However‚ South Korea started to develop rapidly since 1960 and reached 10 million dollars of national income in twenty years. Now Korea is one of the G20 members with GDP of $ 1.116 trillion ( 2010 ) . Country studies Korea’s economy was based on agriculture in early days. However‚ contribution of agriculture decreased as Korea industrialize . Agriculture and domestication of Korea is made
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particular challenge faced by Korea that I would like to address is the Chaebols and the corruption status of South Korea. The Chaebols and the Government The term Chaebol refers to big business group in South Korea. Chaebols are usually characterized by family control of ownership and management‚ diversified business areas‚ and their close relationship with government (1). The development of the Chaebols can be traced back to the period around 1950 to 1960 when South Korea gone through a very rapid
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on North Korea’s foreign policy and isolation: North Korea is‚ as stated by Bruce Cummings in North Korea – Another Country‚ “The Author of most of its own troubles”. The country is close to entirely isolated from the rest of the world maintaining only small contact with certain nations. Since the ceasefire of the Korean War‚ North Korea has become increasingly detached from the majority of the world; however what factors have led to this increased isolation? The heavy bombing of the North during
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