... Delnaz Kasturwala By INTRODUCTION: South Korea has a market economy which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies. It is ahigh-income developed country, with a developed market, and is a member of OECD. South Korea is one of the Asian Tigers, and is the only developed country so far to have been included in the group of Next Eleven countries. South Korea had one of the world's fastest growing economies from the early 1960s to the late 1990s, and South Korea is still one of the fastest growing developed countries in the 2000s, along with Hong Kong, Singapore, and Taiwan, the other three members of Asian Tigers. South Koreans refer to this growth as the Miracle on the Han River. Having almost no natural resources and always suffering from overpopulation in its small territory, which deterred continued population growth and the formation of a large internal consumer market, South Korea adapted an export-oriented economic strategy to fuel its economy, and in 2010, South Korea was the seventh largest exporter and tenth largest importer in the world. Despite the South Korean economy's high growth potential and apparent structural stability, South Korea suffers perpetual damage to its credit rating in the stock market due to the belligerence of North Korea in times of deep military crises, which has an adverse effect on the financial markets of the South Korean economy.However, renowned financial...
Words: 5407 - Pages: 22
...012-IBE-CaseStudies.docx Academic Year 2011-2012 International Business Environment Jean-Guillaume DITTER, PhD Groupe ESC Dijon Bourgogne – Burgundy School of Business SUPPORT DOCUMENT I - CASE STUDIES The texts making-up this document review and emphasize significant issues covered during the sessions. The questions asked at the beginning of each set of texts are meant to help students identify the issues that they should pay attention to. Students will work in teams on one single case study (see class outline for number of students per team). Each team will produce a presentation slideshow of its case study (7-10 slides per presentation, depending on the size of the case). Slideshows will be presented orally during sessions, according to the class outline (1520mn per presentation). Each team member will actively participate in his/her team presentation. Page 1 of 35 012-IBE-CaseStudies.docx CONTENTS Case Study 1. Text 1. Text 2. Text 3. Case Study 2. Text 4. Case Study 3. Text 5. Text 6. Text 7. Case Study 4. Text 8. Text 9. Text 10. Text 11. Text 12. Text 13. Case Study 5. Text 14. Text 15. Text 16. Text 17. Text 18. Text 19. Case Study 6. Text 20. Text 21. Case Study 7. Text 22. Text 23. Text 24. Text 25. Chinese Mercantilism .................................................................................................... 3 Chinese New Year ............................................................................................................
Words: 18376 - Pages: 74
...Economy of South Korea By Henry Graves Dr. Davis September 27, 2014 South Korea is known as one of the emerging economies of the entire world. The South Korean economy has been growing at a steady pace for the past 15 years; this is being accomplished with a dangerous situation with their northern neighbor. When the Korean War ended in 1953 by an armistice that defined the international boundaries between North and South Korea. However, these boundaries are merely a line of truce and hostilities continue between both sides as a search of a just reunification is sought by both countries, but by differing visions on the political future of the Korean peninsula. The question that must be addressed is how does South Korea continue to maintain their dominance in the economy of East Asian nations. The answer can be found by looking into the past history of Korea starting after the end of the Korean War, the present economic policies of the current government of South Korea, and what might the nation need to address in order to maintain their competitive advantage in the region. However, before I begin to look at the past history of South Korea's economy, I must state the present statistics of what has been accomplished in the country. Currently, South Korea is the fifteenth largest economy when measured by GDP and is twelfth in the purchasing power parity. The country has been experiencing economic growth starting from the 1960s until the late...
Words: 1823 - Pages: 8
...is defined as the “worldwide interconnectedness, evidenced in global movements of natural resources, human labor, finance capital, information, infectious diseases, and trade goods” (Haviland, Prins, Walrath, & McBride, 2008, p. 19). Globalization has or is occurring across the world but it has especially effected the non-Western cultures in dramatic and significant ways. Two Examples of Globalization South Korea The Korean War ended in 1953 and from that time until 1963 the southern Korean peninsula, or South Korea, changed very little. The country was lacking in industry and basic infrastructure due to the ravages of the war (Lee & Kim, 2010). The per capita income in 1960 was $35.85 / month (in US dollar equivalent), making South Koreans poorer at the time than people in Bolivia (Kim, 1997, p. 206; Noland, 2014). Today, South Korea is an economically thriving society with advanced technology companies like Samsung, Hyundai and LG. The per capita income in 2012 was $2903 / month (in US dollar equivalent), this puts South Korea 10th highest in the world and above Germany, France and Japan (BBC News, 2012). Modern infrastructure is abundant with South Korea named the world’s “most-wired country” ("The big winner of the year / South Korea", 2012, p. 32) with high speed internet available for free, even on the subway. Tunisia Tunisia is a relatively small North African nation that has a large coast line connected to the Mediterranean Sea and it is sandwiched...
Words: 1154 - Pages: 5
...Association of Southeast Asian Nations The Secretariat of ASEAN at Jalan Sisingamangaraja No.70A, South Jakarta, Indonesia. The Association of Southeast Asian Nations,[4] commonly abbreviated ASEAN ( /ˈɑːsi.ɑːn/ ah-see-ahn,[5] rarely /ˈɑːzi.ɑːn/ ah-zee-ahn),[6][7] is a geo-political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand.[8] Since then, membership has expanded to include Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam. Its aims include the acceleration of economic growth, social progress, cultural development among its members, the protection of regional peace and stability, and to provide opportunities for member countries to discuss differences peacefully.[9] ASEAN covers a land area of 4.46 million km², 3% of the total land area of Earth, with a population of approximately 600 million people, 8.8% of the world population. The sea area of ASEAN is about three times larger than its land counterpart. In 2010, its combined nominal GDP had grown to US$1.8 trillion.[10] If ASEAN were a single entity, it would rank as the ninth largest economy in the world. History ASEAN was preceded by an organisation called the Association of Southeast Asia, commonly called ASA, an alliance consisting of the Philippines, Malaysia and Thailand that was formed in 1961. The bloc itself, however, was established on 8 August 1967, when foreign ministers of five...
Words: 8221 - Pages: 33
...KOREA Managing International Cultural Differences Fall 2010 Introduction The Republic of Korea, also known as simply South Korea or even just Korea has an extremely long, rich, and varied history. Some Korean mythology has the origins of Korea dating as far back as 2333 B.C. The first settlements occurred 700,000 years ago. The Goguryeo kingdom prospered from 37 B.C. until they fell to an alliance of Silla and Tang forces in 668 A.D. The Unified Silla Kingdom promoted development of culture and arts, and the popularity of Buddhism reached its peak from 676 – 935 A.D. The Goryeo Dynasty was established in 918. Buddhism became the state religion during this time and greatly influenced politics and culture. The Goryeo Dynasty’s strength decreased gradually in the latter half of the 14th century. The Joseon Dynasty was formed at the end of the 14th century and during this time Confucianism became the state ideology. The Joseon Dynasty produced the Korean alphabet, which was invented in 1443. Their power declined because of the Japanese invasion of 1592. The Japanese annexed Korea in 1910 and the Korean people suffered under their rule until Japan surrendered in 1945 to the United States of America which ended World War II. The economic and business industry continued to develop and change throughout this long period of history in which Korea was alternately controlled, occupied, unified, invaded, at war, at peace and at a cease fire by and with various other...
Words: 9544 - Pages: 39
...Elaine Hannah Why Invest in South Korea? Elaine Hannah Why Invest in South Korea? Why invest in emerging markets? To cash in where growth is today, and for the foreseeable future. But success is only possible if you have chosen the right entry modes to your market and understand the environmental, political and sociocultural factors of the chosen host country. This report analyses South Korea and demonstrates this emerging market is there for the taking if approached with shrewdness. The South Korean Government, after the financial crisis in 1997, decided it needed to make its country attractive for foreign direct investment, which resulted in the release of the Foreign Investment Promotion Act in 1998. This opened up a passage for 99.8% of Korea’s industry for direct investment. This report looks at the successes and failures of FDI’s in South Korea referred to as Korea from hereon, and what business factors influence these outcomes. Global Business Project Lecturer: Enda Murphy Student: 1063289, 1602617, 1728607 No of Words: 6198 Why invest in emerging markets? To cash in where growth is today, and for the foreseeable future. But success is only possible if you have chosen the right entry modes to your market and understand the environmental, political and sociocultural factors of the chosen host country. This report analyses South Korea and demonstrates this emerging market is there for the taking if approached with shrewdness. The South Korean Government, after...
Words: 9441 - Pages: 38
...abandon central planning and implement market-oriented economic reforms from the early 80s, changes which had significant implications for trade and investment opportunities and indicated the need for enlargement of the ASEAN regional grouping in order to maintain its relevance (Wong, Mistilis & Dwyer, 2011a). The momentum to expand ASEAN was further accelerated by the need to strengthen the region’s voice in international trading bodies such as the Asia-Pacific Economic Cooperation (APEC) forum, the World Trade Organization, and in negotiations with the European Union (Tan, 2003). Between 1995 and 1997, Cambodia, Laos, Myanmar and Vietnam (CLMV) joined ASEAN. They are sometimes referred to as newer members with less-developed economies. With the ASEAN Concord II in late 2003, Southeast Asia charted an ambitious path toward creating a community (AC) founded on economic, security and socio-cultural pillars. In contrast to the EU on which the agreement is loosely based, have rested on open dialogue and concensus processes that have allowed politically and economic diverse nations to cooperate at the regional level. The progress of on ASEAN Concord II will rest on strong regional diplomacy and management of economic and foreign policy convergence. The AEC (Asian Economic Community) hopes to create a single market and production base with free flow of goods, services, investments, capital, and skilled labour. It remains to be seen whether this process would also require a single...
Words: 3227 - Pages: 13
...NATIONAL OPINION POLL: CANADIAN VIEWS ON ASIA © Copyright 2014 Asia Pacific Foundation of Canada TABLE OF CONTENTS ABOUT THE ASIA PACIFIC FOUNDATION OF CANADA _________________________________________________ 2 ABOUT THE NATIONAL OPINION POLL: CANADIAN VIEWS ON ASIA ________________________________ 2 METHODOLOGY KEY FINDINGS ___________________________________________________________________________________________ 2 ____________________________________________________________________________________________ 3 EXPLAINING CANADIANS’ VIEWS ON ASIA DETAILED FINDINGS ___________________________________________________________ 7 ____________________________________________________________________________________ 17 SECTION 1: PERCEPTIONS OF ASIA __________________________________________________________ 17 SECTION 2: VIEWS OF CANADA-ASIA ECONOMIC RELATIONS ____________________________ 23 SECTION 3: PROVINCIAL PERSPECTIVES ON CANADA-ASIA RELATIONS _______________ 31 SECTION 4: CANADA-ASIA ENERGY RELATIONS ___________________________________________ 35 SECTION 5: PROMOTING HUMAN RIGHTS IN ASIA ________________________________________ 39 SECTION 6: CANADA-ASIA SECURITY ISSUES ______________________________________________ 41 SECTION 7: DEMOGRAPHIC FINDINGS ______________________________________________________ 43 APPENDIX: READING THE TABLES _____________________________________________________________________ 49 NOP 2014...
Words: 16362 - Pages: 66
...Phase 3IP- Intercultural Communication Strategies Amanda Pugh Colorado Technical University Online Dr. Asefaw Indrias January 28, 2014 Phase 3IP-Intercultural Communication Strategies When two people communicate they are not always on the same page and they may be on different topics within their agendas, this is caused by the effective meaning that is determined by each of their own emotional world and developmental programs (Drew, 2013). This is what makes up the population of every country in the world. It is one of the many things that makes us all different. When doing business with other countries it is a real gullible state of mind to think that all people in all places all have the same behaviors and ways of doing things. People should not be confused or taken for granted because they wear the same designer jeans, name brand shoes, or even speak the same language as they do. Same scenario when doing business, even more so if that business is to be done in another country or with someone with a different cultural background. Things such as higher levels of sensitivity, being more detail oriented or simple differences like their patterns of behavior can make a huge difference in some other culture (Drew, 2013). If you want to succeed in the cross-cultural business world of negotiations you must completely understand others, and using that knowledge to your advantage to recognize the desires of all parties involved; and then develop...
Words: 2169 - Pages: 9
...China-ASEAN Economic Relations: Development And Future Challenge. Abstract: In recent 15 years, The development of China-ASEAN trade and economic relations has of great significance, not only for both sides but also for the whole East-Asia region. This paper to discuss the latter that is regional implications of 15 years’ development of China-ASEAN trade and economic relations and find the problem and challenge in China-ASEAN trade relations, as well as provide some further consideration for both sides’ trade and economic relations. Introduction Since the economic reforms and open-door policy of1978-79, China's economy has been growing rapidly and more particularly since 1990 when growth has averaged 10% a year. China's external trade has been growing at an even faster rate of 15% a year since 1990, and it has also annually drawing from the lessons of the financial contagion of 1997. Economic links between ASEAN and China through trade, investments and tourism have prospered throughout the 1990s. Perhaps, equally important, China's maintenance of the value of the renminbi (RMB) during the economic crisis of 1997, served as a regional anchor preventing what could possibly have been successive rounds of competitive devaluations. This clearly prevented the crisis from becoming more acute for ASEAN countries and yet this put China’s own exports at risk, as much cheaper goods from the crisis-plagued region competed with Chinese goods. Another important milestone that contributed...
Words: 6269 - Pages: 26
...North C arolin a Polic y Wa t c h Cru cial Co nv ersa tion The Trans-Pa cific Partnership: Worse than NAFTA? Septemb er 2013 Lori Walla ch Public Citizen’s Global Trade Watch Outcomes of 20 Ye ars of NAFTA, WTO, FTAs… Crushing of Americ an Middle Class: more than 5 million US manufa cturing jobs (1 out of 4) & 60,000 US manufa cturing fa cilities gone. Millions of service sector jobs offshored: c all centers, computer, programming, engineering, a cc ounting. Wage “arbitrage” in a ra ce- to-the- bottom. U.S. re al median wages at ‘70s levels. Income inequality at Robb er-Baron-era levels. When manufa cturing, good jobs go tax bases shrink – and schools, public services, infrastructure cut, and construction sector unemployment soars. Floods of unsafe imported food, products. Financial deregulation, instability and repe ated financial crises. He alth, labor, land use, other public interest laws around world atta cked in foreign tribunals. Some dump ed. Initiatives chilled. Billions extra cted from taxpayers and paid to corporations for violations of new “rights.” Drug prices up. In poor nations, de adly cut in a cce ss to meds. Rich nation higher prices slam poor consumers, govt budg ets as Big PhRMA profits soar. U.S. loses 170,000 family farms. In ‘12, volume of U.S. food exports only 1% higher than ’95 (when NAFTA-WTO started). Imports of food now 97% above ‘95 level. Livelihoods of tens of millions of pe asant farmers destroyed, mass migrations...
Words: 4495 - Pages: 18
...http://www.bangladeshaccord.org/bangladesh/ The southern Asian country of Bangladesh, bordered by India and Burma, has a population of approximately 164 million people[1]. The Bangladesh economy has grown an average of six percent a year over the last two decades and has a population increasing by an average of 1.59% a year[2]. This manufacturing industry accounted for almost 12% of Bangladeshi GDP in 2009 and 2010[3] and employs approximately four million people[4]. The export-oriented Bangladeshi garment manufacturing industry has boomed into a $19 billion dollar a year industry[5] following the expiry in 2005 of an international agreement on textiles and clothing import quotas in place since the early 1960’s[6], duty-free access offered by western countries, and low labour costs. The Bangladeshi textile and garment manufacturing sector is fuelled by young, urbanizing, workers many of whom are women. With the majority of production destined for U.S. and European markets, Bangladesh’s ready-made garment industry now accounts for approximately 78% of total exports[7], second only to China as the world’s largest apparel exporter. However, Bangladesh has a long history of health and safety tragedies in garment and textile manufacturing. Garment factory fires and collapses have killed at least 1800 workers since 2005[8]. The Tazreen Fashions fire on 24th November 2012 and the unprecedented disaster of the collapse of the Rana Plaza factory complex on 24 April 2013, together...
Words: 1282 - Pages: 6
...Would free trade agreements improve international trade by encouraging foreign direct investments and opening new markets (Name) (University) Table of contents 1 Introduction……………………………………………………………………………………...3 2 Literature review………………………………………………………………………………..3 2.1 The Changing Landscape of Regional Trade Agreements ……………………………...……3 2.1.1 Introduction………………………………………………………………………………….3 2.1.2 Evolution of the RTAs Landscape………………………………………………….……….4 2.1.3 Conclusion………………………………………………………………………………...6 2.1 Integrating Free Trade Agreements and the politics of Free trade Agreements…………….7 2.2.1 Introduction…………………………………………………………………………………7 2.2.2 MENA Region………………………………………………………………………………8 2.2.4 Conclusion………………………………………………………………………………...9 2.3 Arab Free Trade Area: Potentialities and Effects and the Impact of regional Trade Agreement and Trade Facilitation in the Middle East North Africa region…………………….10 2.3.1 Introduction………………………………………………………………………………..10 2.3.2 The Past……………………………………………………………………………………11 2.3.3 Conclusion…………………………………………………………………………………13 2.4 The North American Free Trade Agreement:Economic impacts of the agreement on United States of America and Mexico in comparison…………………………………………………14 2.4.1Introduction………………………………………………………………………………..14 2.4.2 About NAFTA……………………………………………………………………………15 2.4.3 Conclusion ……………………………………………………………………………….16 2.5 Effects of changes to USA-Korea Free Trade Agreements[FTA] On The Passenger Vehicle sector……………………………………………………………………………………………17...
Words: 13200 - Pages: 53
...complex, shifting, and historic relations between these areas, as well as relations with other places such at the United Sates in more recent times, the history of Korea has been told in many ways and is still the subject of hot debate both inside and outside the Koreas. North and South Korea have different versions of the peninsula’s history, both of which differ in detail and perspective from histories written in China, Japan, Russia, and the USA. The following sections, which attempt to outline the history in a balanced way, are based on a variety of materials, including lectures attended in a special workshop on Korean culture at Korea University in the summer of 1997. Map of Korea The overall pattern of development in the history of the Korean peninsula is a process that begins with an unknown number of early tribal groups that populate the peninsula in prehistoric times, wandering out of Siberia and areas to the west. Over time, some of these groups form more complex societies that eventually result in early kingdoms that grow up on the peninsula; in some cases extending westwards into what is now Chinese territory. As time and events unfolded, these kingdoms were unified, though the borders and degree of unity have continued to change over time—down to today. Besides the obvious split between North and South Korea, cultural differences (including dialect, food, and local identity) exist between the various regions of the peninsula. In some cases these differences are enough...
Words: 13044 - Pages: 53
