Growing and Emergin Economies: South Korea

South Korea is mainly made up of Korean Buddhism with Protestant Christianity a close second as listed in Religious Beliefs of South Korea. While South Korea and The U.S have multiple religions North Korea is two thirds irreligious as said in the world atlas. Irreligious is being indifferent or hostile to religion. Religion is a main factor that separates the three countries but also keeps them close

There are many cultural differences, however, in my opinion those that have the most importance attached while doing business, are the way they determine authority, the fact that negotiations are something they believe should be a hard fought battle, trust being something very important because reputation sells your products not how good a product you produce, and personal relationships are of major importance. When deciding who to put someone in charge you need to know

Korea covers a land area of 99,392km (squared) and has a population of approximately 50 million people. Korea’s economy is listed as Asia’s fourth largest and the world’s 15th largest. It is the planet’s most densely populated country with 400 people per square km mainly due to the nearly 70% of uninhabitable mountainous regions. The largest cities are Busan (5.5 million inhabitants), Seoul (11.6 million), Daegu (4.0 million), Gwangju (2.9 million), Incheon (5.4 million) and Daejeon (2.9 million). Rapid urban growth has resulted in various problems for South Korea including housing. High-rise apartments were constructed in order to help alleviate housing shortages.

The Woodbridge Group is a private, Canadian owned company, where co-founder and chairman, Robert Beamish, holds the majority stake. In 1978, Robert Beamish and Bob Fitzhenry purchased Monsanto Company’s polyurethane foam operations in Canada. The Woodbridge Group, was subsequently established and consisted of one facility located in Woodbridge, Ontario. Over the past 30 years, the company has grown from one local Canadian plant, to over 60 locations in 17 countries. The Woodbridge Group is a presently considered a global leader in polyurethane foam seating products. The purpose of this project is to evaluate the feasibility of extending the company’s molded polyurethane foam operations into the thriving automotive manufacturing region of South Korea.

Nestled in the north peninsula of Korea in East Asia lies North Korea also referred to as The Peoples Republic of Korea and is divided into nine provinces. The nation has an extensive infrastructure, but not modernized and is underdeveloped. Communism consumes North Korea where isolationism and dictatorship are staples in the government. Every aspect of the nation is state regulated and laws are carried out diligently with serious reprisal for disobedience. North Korea prides itself on their military abilities and puts forth the interests of the military before anything. Despite severe food shortages, economic instability, and lack of electricity, North Korea is undeterred in their efforts to maintain the fourth largest military in the world.

An impoverished country of more than twenty five million people, North Korea, also known as the Democratic People’s Republic of Korea (DPRK) was founded by the revolutionary leader Kim IL Sung after the end of World War II. North Korea began as an independent kingdom for much of its long history. Both North and South Korea were under Japanese control in 1905 until the country was split after the end of World War II. Located in eastern Asia in the northern half of the Korean Peninsula, bordering the Korea Bay and the Sea of Japan, North Korea sits in a strategic location bordering China, Russia, and South Korea. North Korea is slightly larger than the state of Virginia, but slightly smaller than the state of Mississippi and is mostly comprised of large mountains and steep hills separated

After the Japanese invasion, Korea had been swept into turmoil, which lead to the division of the country into two separate states. In the North the Democratic People's Republic of Korea, (D.P.R.K.) and in the South the Republic of Korea, (R.O.K.). The United States presence in South Korea would remain until an independent and unified Korean government was established successfully in the country. Following the impact of the Korean War, South Korea has undergone significant reform, which has aided in many changes in the cultural, economic, and political growth in the country.

North Korea is made up of approximately 24.9 million people which is about 25.32 million people less than South Korea. In 1945 the Korean Peninsula was divided because of the Allied victory of World War II and became North Korea and South Korea. The capital of North Korea is Pyongyang which is made up of approximately 2.581 million people. North Korea’s major religions

North Korea (officially named the Democratic People's Republic of Korea, or DPRK) is a single-party Communist state in south-east Asia, ruled since 1949 by the Korean Workers' Party (KWP). Regarded by many in the international community as a pariah state (meaning that it is an outcast), North Korea has in recent years become increasingly poverty-stricken, with many of its citizens having barely enough food to survive.

Japanese industry and infrastructure, which were virtually destroyed during World War II, were systematically rebuilt to transform the country into a global economic leader by the mid-1960s. Post-World War II, the seven-year U.S. occupation of Japan proved to be a blessing in disguise as the Japanese received $2 billion in aid from the U.S. in the form of food, fertilizers, petroleum products and industrial materials.

South Korea is one of the most homogeneous countries in the world, in which it has its own culture, language, and customs that are different from other Asian countries. In South Korea, the citizens greatly value hard work, filial piety, and humility in their daily lives. South Koreans are very proud people in which they pride themselves in their traditional culture and their financial success.

At the end of World War II, Korea was a poor former agricultural colony of Japan. But the rapid growth of Korea’s industrial economy has been remarkable. The economy of South Korea is now the third-largest in Asia and the 13th largest in the world by GDP as of 2007. To trace back the economic development of South Korea, the former president Park Chung-Hee played a pivotal role, and was credited for shifting its focus to export-oriented favoring a few large conglomerates. Unlike his predecessors, Park showed a strong commitment to economic development, believing good economic performance as a primary means for enhancing his political legitimacy. Under the President Park Chung-Hee’s era, the government played a dominating role in a

In South Korea, the Korean language is the most frequently used language and the Koreans use Hangul as the main writing system. Quoted from kwintessential.co.uk, “The Korean language is spoken by more than 65 million people living on the peninsula and its outlying islands as well as 5.5 million Koreans living in other parts of the world.  The fact that all Koreans speak and write the same language has been a crucial factor in their strong national identity.” In the present time, Korea boasts many dialects, including the standard dialect used in Seoul and central areas. Even

Lying between the China and Japan, South Korea is located Korea Peninsula that is convenient location of Far East Asia, which is good for trading due to close Pacific Ocean. Korea’s land is not so big, so this reason appropriate place to establish the factory is not difficult. South Korea’s manufacture industry complex is concentrated on near Seoul, which is the capital and near Busan, which is the second city of Korea. Both city has big port and located near the ocean. For overseas manufacturers with limited knowledge of doing business in South Korea, near the capital and second city will probably be a safer bet as an alternative production base.

Dr. Farok J. Contractor is a professor in the Management and Global Business department of Rutgers Business School, New Jersey. He has written hundreds of articles on the topic of international alliance and foreign direct investment. “Punching above their weight: the sources of competitive advantage for emerging-market multinationals” is one such article of global interest which has been declared of great value both for the public as well as for policy makers. The prime focus of this article is upon the phenomenon of emerging market multinationals which have swept the world by storm and introduced a whole new way of conducting global leadership and business. These emerging market multinationals are specifically discussed