South Korea

BBA2264 International business Individual project By Asmidah Amil 113401012

The Land of Morning Calm

Overview

Country profile (location, size, population, income, languages, religion, etc.)Type of business recommend to invest in (explain why)Competitors (local and foreign)Entry strategy (how to start the investment or business)Risk analysis (what and how to prevent and mitigate potential problems)

In Eastern AsiaSouthern half of the Korean Peninsula Bordering the Sea of Japan and the Yellow SeaArea: total: 99,720 sq km (country comparison to the world: 115)

land: 96,920 sq km water: 2,800 sq kmClimate Temperate climate Four distinct seasons

Brief Introduction

Motto:널리 인간을 이롭게 하라 ( 홍익인간 )"Devotion to the welfare of humanity“

National flower

Brief Introduction

National emblem

National flag

Brief IntroductionGovernment Type: Constitutional

republic , Unitary state, Presidential system.

Legal system:

-Continental European civil law systems, -Anglo-American law, -Chinese classical thought; (Has not accepted compulsory ICJ jurisdiction)

Suffrage: -19 years of age

Population ;50.24 million ( 2013 est.)Country comparison to the world: 26

Age structure ;o 0-14 years: 15.1% (male 3,844,033/female 3,533,963)o 15-24 years: 13.6% (male 3,517,504/female 3,104,269)o 25-54 years: 48.3% (male 12,013,733/female

11,593,217)o 55-64 years: 11.2% (male 2,697,406/female 2,765,709)o 65 years and over: 11.9% (male 2,365,749/female

3,424,917)

Brief Introduction

Brief IntroductionReligion Shamanism Daoism and Buddhism Christianity Roman Catholics Confucianism Ch'ondogyoj

Jikjisa Temple

Language ;

Korean, English (widely taught in junior high and high school)

Brief IntroductionGDP & Economy

Korea's GDP (PPP) per capita was estimated at $32,400

GDP - real growth rate: 2.7% Unemployment rate:

3.8% country comparison to the world: 37

Inflation rate (consumer prices): 2.2%

Exchange rates: South Korean won (KRW) per US dollar - 1,101.7

Public Holidays

Liberation Day, 15 August

Brief Introduction

Choenamdan Bangeo Festival

Chungjang Recollection Festival

Icheon Rice Cultural Festival

World Heritage

Brief Introduction

Changdeokgung

Palace Complex

Gochang Dolmens Site

Changdeokgung

Palace Complex

Gochang Dolmens Site

Other Attractions

Brief Introduction

Bampo Bridge

Jungdo Island

Naksan Beach

Kim Il Sung's Summer Residence

Ulsanbawi Rock

Jagalchi Market

9 Provinces, 7 administratively separate cities

Capital:Seoul - one of the world's top ten financial and commercial cities

The richest region: Ulsan

Brief Introduction

Transportation and energyBrief Introduction

Incheon International Airport

Express Bus Terminal

Seoul Metro’s New Golden Line 9

Seoul Subway Line 9

South Korea Taxi

South Korean fishing boats

Brief IntroductionHanbok 한복

Dol hanbok

Wedding clothing

Children's hanbok

Baby’s clothes

Female and male hanbok

Brief IntroductionFestivalSeollal 설날 – The Korean New Year

Chuseok 추석 – major harvest festival

Chuseokbim

Ganggangsullae

Tteokguk Perform sebae

songpyeon Seongmyo

Korean WaveFood – snacks / street food

Korean Culture

Confucianism

Hierarchy

Respect

Harmony

Type of business recommend to invest in

local product

Brings Malaysian-made Products In South Korea

Why chose it

large population

Introduce local product

cultural similarities and mutual love for food

encourage Malaysian SMEs participating in this program

helping them gained greater exposure in

the international market.

Competitors

Local

Asia mart

corn

Foreign

United States (Western food )

American( my costo and songtan black markets )

Indian shop korea

Little Manila : Hyewha station

Entry strategy

Joint Venture• contractual business undertaking between our

company ( Malaysia ) or more parties.• companies choose to enter joint ventures in order

to share strengths, minimize risks, and increase competitive advantages in the marketplace.

• Joint ventures can be distinct business units (a new business entity may be created for the joint venture) or collaborations between businesses. In a collaboration, for example, a high-supermarket may contract with a manufacturer to bring its idea for a product to market.

My company joint venture with ;

Malaysia product

Joint Venture

Advantages Access to local partner’s knowledge Sharing development costs and risks Politically acceptable Diversification of business by producing new

products or new area of business. Increased productivity and grater profits. Exchange of Products: Joint venture companies can

offer their existing product to sell through the partners network and share the profit. Both JV partners can do the same. By exchanging products and services of the partner, we can diversify the product basket and sell it to their existing customers and increase the profit.

Disadvantages

It take time and efforts to form the right relationship. The objectives of each partner may differ. The objectives needs to be clearly defined and communicated to everyone involved. Imbalance in the share of capital, expertise, investment etc., may cause friction in between the partners.Difference in the culture and style of business lead to poor co-operation.Lack of assuming responsibility by the partners may lead the collapse of business. Lack of communication between the partners may affect the business.

Risk analysis

Many competitor -customers have to make a choiceWeather - happen to bad weatherTaste - different taste Management - largest organization

ways to prevent and reduce potential problems

Lower prices- put a reasonable price to attract customer Delivery service-create delivery service for customer easy to buy product even if occur the bad weather Promotion- each month having a promotion to attract customers

to buy and like it. Improve the management system - discussion partner is better for reduce differences

occurred in the management system.- create opportunities

Information

Tesco brings 121 Malaysian products to

South Korea.

June 27 witnessed the launch of the Taste of Malaysia (TOM) programme in South Korea featuring 88 new and 33 existing Malaysian-made products at the three Tesco Homeplus stores in Yeungdeungpo, Ansan and World Cup.