...South Korea Essay Korea is known as the “Land of the Morning Calm.” This expression comes from the beginning of the modern history of Korea. Koryo means “high” and “clear.” This word symbolizes the clear blue sky of Korea. The beautiful nature of Korea is expressed through this ancient name. The beginning of Korean history started from 2333 B.C. The Korean peninsular adjoins China and Japan. Korea was conquered by Japan and divided into South and North Korea at the end of World War II. The Korean War caused devastating damage to Korea. However, it should be noticed that despite frequent foreign invasions, the Korean Peninsula has been under a single government while maintaining its political independence, culture and ethnic heritage. Not that long ago, South Korea was one of Asia’s economic success stories – one of the region’s hungry “tigers” looking around for new markets to conquer. Seoul, its capital, modernized in a very rapid amount of time to accommodate the needs of business travelers and has brought the country’s colorful traditions and trademark tranquility. The unique elements of culture The population of the Korean Peninsula, sharing a common language, ethnic identity, and culture, was one of the world’s most homogeneous. Although there were significant regional differences even within the relatively small land area of South Korea, neither the Democratic People’s Republic of Korea (North Korea) nor South Korea had significant non-Korean ethnic minorities...
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...2013). Indeed, why wouldn’t such a growth trajectory take on a supernatural descriptor? What’s more, in the 1960s few could have predicted such an ascent given that the Republic of Korea (ROK) lacked an abundance of natural resources, land mass or population size – frequently used indicators to forecast power potential (Organski 1968, 340). This has led researchers to question why South Korea was able to grow at such a remarkable pace, while other potential risers were not. For instance, Egypt, with a larger abundance of profitable natural resources, a larger land mass and nearly twice the population size, has had sluggish growth during that same time. Egypt’s GDP (OER) is US $255 billion; its unemployment is 12.5% or 130th in the world; and, its HDI ranking is 112th. Immanuel Wallerstein’s World System Analysis[2] provides a theoretical framework to consider such growth and development inequalities. He argues an essential organizing characteristic of the modern capitalist world economy is the division of labour. Wallerstein argues systemic power structures institutionalize structural divisions in labour and amplify core-periphery relations. This essay will consider the role of strong state machineries[3] for developmental growth in such a system. Through a comparative analysis of Egypt and South Korea, this essay will demonstrate that nationalistic state intervention is necessary for economic development[4]. Wallerstein’s...
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...infrastructure, Seoul is a major corporate and leisure destination in Asia, offering tourists a diverse mix of cultural, entertainment, dining and shopping experiences. International visitor arrivals have been on the rise since 2003. The Korean wave and the government’s initiatives to boost tourism as well as the depreciation of the Won have encouraged visitation to Seoul. In 2012, international visitor arrivals to South Korea was recorded at 11.1 million, above the target of 10 million tourists. In 2013, visitor arrivals edged up to 12.2 million tourists, a 9.3% year-on-year increase, supported by the increasing number of tourists from Mainland China. Japanese visitors decreased dramatically by 21.9% compared to 2012 due to the weakening of the Yen and a strained political relationship. However, Japan and Mainland China still remained as the top two source markets to South Korea in 2013. There has been a significant increase in hotel development in the capital city of Seoul against a backdrop of demand growth and limited room supply in recent years. According to Korea Ministry of Culture, Sports and Tourism (KMCST), approximately 50 new hotel projects have been submitted which could potentially result in an additional 22,200 rooms by 2017. Several international branded full-service and limited-service hotels opened in the past few years and others have intentions to enter the Seoul market by 2015. Hotel trading performance in Seoul recorded year-on-year growth until 2012 but showed...
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...PESTEE Analysis Korea Political Analysis Political factors refer to political situation of the country and the extent to which it may affect and interfere with the project. Political system of South Korea has undergone a huge transformation to become a democratic country in 1987. South Korea became a stable democracy with strong political and economic support from the US The political landscape of the country include centralization of power which the implementation of economic reforms became faster and effective so that the country was fully focused on economic development and friendly to foreign investments, especially strengthening foreign relationships with emphasis on EU. According to economic forecast, South Korea is to become the seventh largest economy in the world within next ten years. Though the fact the relationship with North Korea remain tense and uneasy, the government aims to solve this situation in better way. Since crisis in 1997, the government opened the South Korean market to foreign investors by identifying Foreign direct investment (FDI) and abolished the harmful regulations on foreigner shareholdings in domestic companies. The taxation system and particularly corporate tax in South Korea was simplified encouraged foreign investments. |Current strengths: |Current challenge |Future prospects | |Centralized power of attorney |Military violence still...
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...the rapidly development of new information technology, the competition between companies became more and more intense, great companies use genius ideas in their advertisements aim to capture more audiences to purchase their products and small companies use advertisements to promote their products to enable them survive in the high competition while there were already hundreds of ‘substitutes’ in the market nowadays. As all companies use advertisements, the situation in Korean advertisement industries and Australian advertisement industries are totally different when sometimes objective, factual appeals are more effective in persuading a target audience, and sometimes emotional appeals are more effective. (Schiffman,2011), however ,in Korea advertisers never put fear appeal into their ads ,even the product will destroy people’s health like cigarettes or alcohols and they do not like to use sex appeal either, this may because Asian people are more introversion than Australians, when they saw some of ‘hot’ sex appeals, they would feel shy which may lead them forget the main information marketers wanted to send through the advertisement. Humorous appeals are the most frequency appeals appears in Korean advertisements, because Korean people like humorous, we can tell this...
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...every calendar, unending shopping of winter clothes and on the making of shopping lists, those are the things that I used to do whenever I daydream and got excited for this trip. Furry boots, trench coat, cute earmuffs, cottony mittens and warm scarf, all of us dreamt of wearing those stuff. But how would that be possible for a weather like this here in the Philippines? That won’t seem cool in here. But finally, here comes the chance for us to be in fashionable winter clothes and experience the cold weather. Anyeong-haseyo Seoul, Korea! The class organizers brought us here with the theme, “1Seoul: A Blissful Wander to the Heart of Korea.” The trip was well organized with a proper itinerary of a 5 days stay in Seoul. It all started on the 1st day of March. I was really not in the mood to dress up for winter because it’s really hot outside. About 30 degrees was the temperature in the Philippines but I have to be prepared for the cold weather in Korea. Seeing my huge 18kgs luggage and a hand carry made me decide to go to the meeting place (Plaza Mayor) earlier than the call time. Upon arriving within the area, many parents were there to take my blockmates to the bus and bade their last goodbye hugs and kisses before leaving the country. It was night then, around 7:00 in the evening, we left UST and proceed to the airport. On the way to the airport, we prayed the Rosary to ask guidance and help us in making our trip safe. And then there, we arrived in the airport. It was my first...
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...Country report South Korea – Electronic Yu Ming Lin Country Profile In February 1945 the end of World War II, Korean Peninsula divided into North and South Korea. South Korea also name Republic of Korea, 99,392 sq. km, has a population of almost 50 million, and has its capital at Seoul, the largest city in Korea. The second largest city is Busan, which is the country’s main port, has wonderful nature harbor beside the delta of Nakdong River. The major industrial prior 1948 was agriculture in Korea peninsula, South Korea was in a sever environment of economic. The war damage and the refugee from North Korea keep South Korea inflation and unemployment. Korea is full of mineral source, however, most minerals concentrated in the North such as gold, coal, ore, iron and graphite. There are some tungsten, amorphous graphite, coal, and iron in South Korea and the distribution percentage is North 80%~90% to South 10%. International trade Balance Of Payment The table above is the South Korea’s balance of payments account and this table can track the payments to and the receipts from other countries from 2006 to 2010. As we can see the current account surplus in all five years and it means that these five years South Korea exports more goods, services, and income than it imports. (Data from world databank) The Current Account In October 2011, South Korea’s current account surplus US4000 Million. South Korea’s growing economy relies on exports, and the most important exports...
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...LIM YI ZHE CLASS : DBS 1 SEMESTER : SEMESTER 1, 2013 COURSEWORK : Presentation Topic : Japan VS Korea Introduction The topic that I choose for the presentation is Japan vs Korea. These 2 countries are near to each other. Japan is in the continent of Asia. Its country is made up of many islands. Since the sun rises in the east, Japan is often called "The Land of The Rising Sun. "The Japanese refers to their country as "Nippon" or Nihon" which means "source of the sun". The Japanese flag represents a red sun on a white background. The capital of Japan is Tokyo. In fact it is one of the largest cities in the world. It is modern, very busy, and extremely crowded. In fact, today, Japan is a modernized country. They have factories, televisions, radios, cameras, and other familiar objects. Japan has a population of about 127 million, of which 99 percent are Japanese. The Japanese economy is one of the third largest in the world. On the other hand, Korea is located between China and Japan on the Korean peninsula. The peninsula is approximately 1030 km long and 220 km wide. The population of Korea is about 49 million and almost a quarter of that population lives in Seoul. Other major cities in Korea include Busan, Daegu, Daejeon, Incheon, Ulsan and Kwangju. About 70% of Korea is mountainous making for some great hiking, scenery and photography. In addition, there are also beautiful beaches and islands around the country...
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...NORTH KOREA Nicholas Eastman There are a few different countries that, in my opinion, would be enjoyable to visit and study their culture. One country in particular seems to stick out to me. I have always been taught about democracy in school, as well as other government styles, but have never first hand experienced another style of government. For this reason I chose North Korea, based on their centralized communist ways. I opinionate this to be an interesting way of life and would like to learn more about how people live under a communist government. From what I know about North Korea, rules seem strict and the people do not have the same rights as we do in the United States, which leaves me wondering how my life would be different, living under the same conditions as North Koreans. The geography of North Korea represents a peninsula, attached to Manchuria, China, and a small portion of the USSR (Geography). This 600 mile long peninsula is just above the 38th parallel, with a size of just above 45,000 square miles (Geo). With this, it makes the country itself smaller than the state of Pennsylvania. The make-up of the land in North Korea consists of several mountain ranges, lined up north to south, with small valleys in between each (Geo). This does not allow for many rural areas, leading to large cities populated by millions of people. The Yalu River forms a portion of the northern border with Manchuria (Geo). The mountains in the country prevent large farms, which...
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...Korea had been a colony of Japan since 1910. Along with the surrender of Japan in the World War II in 1945, the colonial period that had lasted for 35 years ended. As one can imagine, Korean people were extraordinarily happy when the Japanese announced surrender, since they could eventually get rid of the harsh days – of the language deprivation that they were forced to abandon Korean and adopt Japanese, and of family members having been sent overseas to serve the Japanese in all manners including being comfort women, and so forth. However, they did not know the Liberation was the start of another catastrophic period of time. The political vacuum engaged the United States and the Soviets who then occupied the peninsula, and caused a series of aftermath including the division of the nation which so-far seems to be permanent, and the tragic Korean War which lasted for four years. This essay briefly discusses the issues that took place in the period of 1945-50, after the Japanese surrender and before the Korean War that broke out on 25th June, 1950. A multilateral trusteeship of postwar Korea was suggested by the United States to the Soviets at the end of 1943, during the World War II. And when Japan signaled the intention of unconditional surrender to the World War II on 10th August 1945, the United States proposed temporary division of Korea along the 38th parallel of latitude for political and military purposes. The Soviets were in Korea fighting Japan at the Japanese...
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...South Korea: Korea regained its independence following Japan's surrender to the United States in 1945. After World War II, a Republic of Korea (ROK) was set up in the southern half of the Korean Peninsula while a Communist-style government was installed in the north. During the Korean War (1950-53), U.S troops and UN forces fought alongside soldiers from the ROK to defend South Korea from DPRK attacks supported by China and the Soviet Union. An armistice was signed in 1953, splitting the peninsula along a demilitarized zone at about the 38th parallel. Thereafter, South Korea achieved rapid economic growth with per capita income rising to roughly 14 times the level of North Korea. South Korea today is a fully functioning modern democracy. Korea is home to a set of large firms, so called chaebols, which can be classified as multinational enterprises (MNEs) In the list of the world’s largest 500 companies, ranked by sales for2001 found 12 Korean firms. In 2004, there were 11 Korean firms in the list of the world’s largest 500. These large firms are analyzed here as the basic set which will determine the success of Korea in developing MNEs. The literature in international business analyzes the growth and foreign expansion phase of MNEs. The starting point of this theory of the MNE is the proposition that an MNE goes abroad to further expand on its firm-specific advantage (FSA).These can be technology based, knowledge based, or they can reflect managerial and/or marketing skills...
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...SEOUL, South Korea - North Korea on Tuesday tested a new multiple-rocketlauncher with a range long enough to strike major American and South Koreanmilitary bases south of Seoul, South Korean military officials said. The tests are seen as Pyongyang's latest show of force as the United Statesand South Korea conduct annual joint military exercises, to which the Northstrongly objects. Apart from its nuclear arms, North Korea's multiple-rocket launchers andartillery pieces are the weapons most feared in the South. The North is estimated to have 13,000 of them clustered on the inter-Koreanborder, just 28 miles north of Seoul; the North's occasional threats over theyears to turn the South Korean capital into a "Sea of fire" are presumed to bereferences to these weapons. South Korean military intelligence has long suspected the North of developinga longer-range rocket launcher that could reach some of those bases,including those in the Osan-Pyeongtaek hub about 60 miles south of Seoul,where the United States has been relocating many of its bases from aroundSouth Korea. The United States and South Korea have been building up their ability tocounter the North's rocket and artillery threat in recent years, especially sincethe North's artillery attack on a South Korean border island in 2010, whichkilled four people. The range of North Korea's new 300-millimeter multiple-rocket launchermeans that the North can keep the launchers outside the range of the Spikemissiles and still be able to hit Seoul...
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...After the war between North Korea and South Korea the North stayed communist but the South went back to its natural state meaning that it was not communist. -- Well, North Korea and South Korea went to war in the late 40's or early 50's (before then, Korea was one whole country.). The economy and government are very different between the two countries. South Korea is a perfectly good country. They have cell phones and cars and internet and they're a democracy (things you probably take for granted if you live in the US or Canada or South Korea or pretty much any other free country). But in North Korea things are different. Kim Jong ll rules over North Korea. In North Korea, people are pretty much brainwashed from a young age that the ruler of the country is always right, no matter what, and there's nothing you can do about that. North Korea doesn't have internet, and even though there's a few buses there, there's no such thing as a traffic jam there. They just started allowing cell phones, only a few people have them. International calls and texts aren't allowed. North Korea is basically a country that's closed off from the rest of the world. It's very difficult to leave the country. You might not be able to leave without a good reason, and if you do get to leave you might not be able to come back. It's pretty hard to travel there too- you can't just hop on a plane and fly there. Of course people do escape from time to time- but most people don't even try, don't even think...
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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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...trillion USD, strong purchasing power, low and predictable taxes and the 12th largest economy in the world, South Korea becomes a fantastic opportunity market (investinkorea, 2013). Although the global financial crisis had its repercussion, it did not affect the private consumption and the Government has been continuously engaging in efforts to strengthen the groundwork for long-term growth and boost the economy. The economic improvement of the past 30 years highly changed Korean’s business environment: personal income together with the level of education have significantly increased consequently improving local living standards (statistics Korea, 2013). Higher levels of education, travelling abroad, international tourists and technology, have all helped to widen horizon and open the door to new products. Datamonitor shows a solid increase of the overall annual food consumption and eating out expenditure (see appendix 8), moreover it seems that tastes are evolving and consumers are becoming progressively more sophisticated and open to western influences (statistics Korea, 2013). Korea is undergoing a fast transformation, accepting numerous overseas concepts relative to life's basics such as for instance food. South Korean consumers appear now appear to be rapidly embracing international influences, particularly regarding food (market analysis report, 2011). Korea also displays a very peculiarity culture with a mixture of traditional and contemporary elements: although it still...
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