Investment Entry Mode Strategy Of South Korea

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To start business in South Korea it would be a challenge but I believe it would be a great investment to consider. Our investment entry mode strategy will be a joint venture, which is “a contractual, strategic partnership between two or more separate business entries to pursue a business opportunity (Carpenter pp 241).” Partnering with the owner of The Shilla Hotel, Lee Byung-chul. The Shilla Hotel is listed top 5 luxury gateway hotels in Seoul, (the capital city of South Korea) and one of the top 500 hotels in the world. We as American hotel chain catering to US tourists should enter South Korea using transnational strategy. With this strategy we will seek to combine the best of multidomestic strategy and a global strategy to get both global efficiency and local responsiveness (Carpenter pp 278). With this in mind, Lee will be our local man who will help us to be more approachable to the local market. I have chosen to enter the city of Busan at population over three million people. According to the CNN website, Busan is often called “the summer capital of South Korea”, which is just a two- and-a-half-hour train from Seoul. Tourist can experience the culture by walking down the streets of Busan and watching burly, tattooed local men play a popular street game, driving nails with a single blow into a thick wooden beam for prizes such as cigarettes and whiskey. Other attractions to this beautiful city are their beaches; Haeundae, and Gwangalli; temples; Beomeosa, and

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