individual project south korean
DESCRIPTION
TRANSCRIPT
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South Korea
BBA2264 International business Individual project By Asmidah Amil 113401012
The Land of Morning Calm
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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)
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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
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Motto:널리 인간을 이롭게 하라 ( 홍익인간 )"Devotion to the welfare of humanity“
National flower
Brief Introduction
National emblem
National flag
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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
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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
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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)
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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
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Public Holidays
Liberation Day, 15 August
Brief Introduction
Choenamdan Bangeo Festival
Chungjang Recollection Festival
Icheon Rice Cultural Festival
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World Heritage
Brief Introduction
Changdeokgung
Palace Complex
Gochang Dolmens Site
Changdeokgung
Palace Complex
Gochang Dolmens Site
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Other Attractions
Brief Introduction
Bampo Bridge
Jungdo Island
Naksan Beach
Kim Il Sung's Summer Residence
Ulsanbawi Rock
Jagalchi Market
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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
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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
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Brief IntroductionHanbok 한복
Dol hanbok
Wedding clothing
Children's hanbok
Baby’s clothes
Female and male hanbok
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Brief IntroductionFestivalSeollal 설날 – The Korean New Year
Chuseok 추석 – major harvest festival
Chuseokbim
Ganggangsullae
Tteokguk Perform sebae
songpyeon Seongmyo
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Korean WaveFood – snacks / street food
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Korean Culture
Confucianism
Hierarchy
Respect
Harmony
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Type of business recommend to invest in
local product
Brings Malaysian-made Products In South Korea
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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.
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Competitors
Local
Asia mart
corn
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Foreign
United States (Western food )
American( my costo and songtan black markets )
Indian shop korea
Little Manila : Hyewha station
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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.
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My company joint venture with ;
Malaysia product
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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.
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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.
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Risk analysis
Many competitor -customers have to make a choiceWeather - happen to bad weatherTaste - different taste Management - largest organization
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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
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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.
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