South Kore A Case Of Successful Late Development Under...

South Kore A Case Of Successful Late Development Under...
South Korea was a case of successful late development under state authoritarianism. During the period of early industrialisation, the state was perceived
as a highly corrupt due to the strong relationship between the state and Chaebol (big business). The era of rapid industrialisation and the strong
relationship between the state and the Chaebol contributed to the uncertainty of the state–business relationship between social circles (Thirkell–White:
2002). As the Chaebol and the state were heavily interdependent; the Chaebol were significant providers of welfare, in return for financing the political
functions of the state. Eventually, the Chaebol began to question the returns it got from supporting state institutions, and the relationship began to
disintegrate (Thirkell–White: 2002). Suspicion of corruption led to the adoption of more 'transparent' and 'liberal' growth policies, known as the
segyehwa, or globalisation policy (Thirkell–White: 2002). Given access to higher productivity and growth, the Chaebol gained more power
independent from the state. This led to extensive market liberalisation, focused on short term gains financed by the state which produced disastrous
consequence, evident in the Asian Financial Crisis of 1997 (Thirkell–White: 2002). The point is that during the time of Korea's rapid industrialisation,
the capitalist class was largely a product of the state (Thirkell–White: 2002). The state had leverage over the economy, rather than the economy having
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Unified Korea
The allied victory of World War II marked the end of the Empire of Japan's 35
–year colonial rule of the Korean peninsula. The Soviet Union and the
United States both agreed to occupy the country along the 38th parallel. The arrangement granting temporary rights to each nation over the Korean
peninsula occurred under the assumption that giving trusteeship would ultimately lead to the establishment of an independent Korea. The emergence
of the Cold War prevented the formation of a unified Korea. Failure to accept United Nations resolutions by the Soviet Union caused the formation of a
communist government in the North, while in the South the United States introduced a democratic government. Two extremely distinctive countries
were created ... Show more content on Helpwriting.net ...
The resulting strengthening of manipulation and corruption that took place has evolved into South Korea's chief technique of upholding business
success and effectiveness in the global community. The chaebols have become a core stake in the South Korean economy, but they have dissuaded
economic growth. Not many small businesses and companies are able to survive against the business conglomerates. There are a select few
businesses that can outweigh the financial and political advantages of the chaebol. Consequently, the economic inequalities have developed
substantially. Not much of the economy is left after the chaebol have used their power and authority to consume more than their share. This disparity
is most visible in times of financial catastrophe. In 1998, following the South Korean IMF crisis, the Gross Domestic Product of South Korea
dropped by 7 percent. While the top 5 percent of South Koreans only saw their income decrease by 2 percent, the bottom 30 percent of Koreans saw
their income drop by almost a

Confucianism And Its Impact On South Korea
Confucianism was founded over two thousand years ago in China, and countries around, including Taiwan, Japan, South Korea, Hong Kong, Singapore,
and many more others are influenced by the ideology. Among all, South Korea is one that still follows Confucianism, and the society is still strongly
influenced by this philosophy. According to the Chair of Sungkyunkwan, one of the top institute inSouth Korea, "over eighty percent of Koreans follow
Confucianism" (Choi). The number is even higher than its origin country, China. Even though the country is very modernized with western philosophy,
religion, and advanced technology, the people of South Korea are still living a lifestyle that consists the idea of Confucianism. Confucian values impact
South Korea on many different aspects, including, family, social relations, education and economics. The philosopher, Confucius, created Rujia,
Confucianism in the fifth century. The philosophy has been used by Chinese emperors as the standard social values in their countries. Over the years,
other scholars have revised Confucianism and change it into what it is like today, but the basic principles remain the same. Some of Confucianism's
core values are Filial Piety, humaneness, ritual, loyalty, and the importance of education (Riegel). Filial Piety means respect for one's parent, and
younger generation giving back to the older generation after reaching the certain age. Humaneness is basically caring for other people. Confucius said,
"The

Should Emerging Market Economies Embrace Market...
Student Number: 12038800
Should emerging market economies embrace market liberalisation reforms?
By Jin Ee Ng
When financial restrictions bring about nothing but deterioration the economy, the country will opt for a liberalisation to lessen government regulation
and restriction in the financial market. Financial market liberalisation eliminates restrictions on financial institution and market domestically. This
liberalisation strategy intends to free the flow of capital in and out of a country and encourage economic development. The purpose of removing
restrictions on the market is to allow capital inflows from developed countries that would finance the emerging market to higher investment and growth,
for insurance against shocks and volatile consumption, and spur development of domestic financial market. By lifting these financial restrictions,
domestic financial market opens up to the international market allowing market forces to drive the market operation more effectively. In addition, it
should achieve an efficient capital allocation and better sharing of individual risk. Emerging market economies generally refers to economies in an
earlier stage of market development that have recently opened up to world. Emerging market nations liberalise their financial system with high hope of
economic growth and reduced poverty. Their capability to manage a market liberalisation in order to enjoy its anticipated benefits is questionable.
Being far from a developed country, emerging

Financial Liberalization : South Korea And Taiwan Essay
Two Paths to financial liberalization: South Korea and Taiwan, Elizabeth Thurbon Is it insufficient financial liberalization and the legacies of
economic model in which the state plays an active role in the allocation of economic resources to strategically designated ends that caused the rise of
financial crises or is it excessive financial liberalization and increased exposure to volatile capital flows for the primary cause of financial crises?
What kind of liberalization could deliver of the benefits of access to the opportunities of the global marketplace whilst maintaining the domestic
foundations for economic growth and stability? (main proposition of the author) Acceleration of liberalization and deregulation and a fuller exposure
to the market mechanism as the only variable solution to East Asia's economic woes (IMF 1998; Frankel, 1998b; Wolf1998). On the other hand, calls
for the re–imposition of capital controls Mahathir–style to counter to perceived ill–effects of excessive financial freedom (Rodrik 1998; Krugman 1999;
Wade and Veneroso 1998a). There is more than one path to financial liberalization and the path chosen bearing critically upon outcomes of
liberalization process. Throughout the post–second world war era, Korea and Taiwan shared similar developmental strategies following the
'developmental state' model of industrial development. In the 1990's both Korea and Taiwan had embarked the process of financial liberalization and
maintained the momentum up

Financial Crisis in South Korea
International strategic management| South Korea, financial crisis| Melissa MactavieJodie MackayTeboho LentoSifiso MashishiKarushka naidoo|
South Korea's current account balance started to deteriorate in 1990, due to the rising inflation, appreciation of the Korean won and the recession of
the world economy. In 1991 the current account recorded a deficit of $8.7 billion, which was more than four times the level of the preceding year. The
Korean government encouraged capital inflows in order to finance the growing current account deficit. To achieve this objective, capital account
liberalisation was accelerated in 1991by altering the Foreign Exchange Management Act.
The limited capital account liberalisation implemented resulted ... Show more content on Helpwriting.net ...
The asset value declined further.
Many businesses failed to guarantee returns and profitability. Due to the high rates of economic growth and the booming economy, private firms and
corporations looked to finance speculative investment projects. However, firms overstretched themselves and a combination of factors caused
depreciation in the exchange rate as they struggled to meet the payments.
The South Korean corporate governance structure was known for its technical and ethical inefficiency well before the crisis. The existence of a small
number of large business conglomerates, chaebols, is widely considered to be one of the biggest problems in South Korean society. This governance
system was fertile ground for inefficiency and corruption. A study shows that only 27percent of the 570 non–financial firms created shareholder value
during the five years before the crises.
The South Korean conglomerates were more or less completely controlled by the government and simply absorbed growing capital investment.
Eventually, excess debt led to key failures and takeovers. In the midst of the Asian market downturn,South Korea's credit rating was lowered on 28
November 1997 and downgraded again on 11 December. That contributed to an additional decline in South Korean shares since stock markets were
already bearish in November.
The inability of the Korean government to respond early to potential

Financial Analysis Of Samsung Group
In this report, we will be talking about the South Korean global company Samsung Group. We are in charge of researching and analyzing this
department and after this report, we will give a recommendation if it Samsung is financially reliable. Without further ado, let us start with the analysis.
Company history and facts
Samsung Group is a South Korean company and it is, as of this day, one of the strongest and biggest companies globally. It was created in 1983 in
Daegu, South Korea and it is the biggest chaebol company in South Korea, which is a large business conglomerate, typically a family–owned one.
Samsung currently has its headquarters in Suwon, South Korea and it is called Samsung Digital City.
Samsung Group has three main departments: Electronics, Heavy Industries, and Financial Services. However, they have expanded so much that they
have different affiliates companies such as Samsung Biologics, Samsung Medical Center, and S–1 Corporation. Some of these are totally unrelated
with one another and they have, as of this day, Samsung employs around 319,000 employees and owns around 78 affiliate companies and counting.
Major Products and Services
As mentioned before, Samsung Group has many companies in different divisions such as biological, electronics, tourism, and even fashion. However,
some of the major products and services we will mention this time will be from Samsung Electronics. Some of the most known and best products are
Galaxy S and Galaxy Notes phones,

Samsung : South Korean Multinational Aggregate Company
Samsung is a South Korean multinational aggregate company headquartered in Samsung Town, Seoul. It contains various subsidiaries and partnered
organizations, the majority of them united under the Samsung mark, and is the biggest South Korean chaebol (business combination).
Samsung was established by Lee Byung–chul in 1938 as an exchanging organization. Throughout the following three decades, the gathering
differentiated into zones including sustenance preparing, materials, protection, securities and retail. Samsung entered the gadgets business in the late
1960s and the development and shipbuilding commercial enterprises in the mid–1970s; these zones would drive its ensuing development. Taking after
Lee 's passing in 1987, Samsung was isolated into four business bunches – Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since
1990s, Samsung has progressively globalized its exercises and hardware, especially cell telephones and semiconductors, have turned into its most vital
wellspring of wage.
In the late 1960s, Samsung Group went into the electronic business. It shaped a few electronic related divisions, for example, Samsung Electronics
Devices, Samsung Electro–Mechanics, Samsung Corning and Samsung Semiconductor and Telecommunications, and made the office in Suwon. Its
first product was a highly contrasting black and white TV set.
In 1980s, Samsung Electronics started to put vigorously in innovative work, speculations that were significant in pushing the

Operational Management Issues Of Samsung Company
Samsung is electronic device company that have been found by Lee Byung Chul in the year of 1938 as a trading company. Before it became the
electronic based company this company fall into the areas of food processing, textiles, insurance, securities and retail. In the late of 1960s Samsung
enter electronic industry and middle of 1970s this company enter construction and shipbuilding industries. However after the death of the founder
Samsung have been classified into four major business group which was Samsung Group, Shinsegae Group, CJ Group and Hansol Group. In the year of
1990s Samsung has expanding and globalizing their business especially in electronic, particularly mobile phones and semiconductors, have become its
most important source of income. Samsung have been operating over 50 ... Show more content on Helpwriting.net ...
Samsung has caught up in operational management issue in maintenance, technical support and warranty which is very crucial for customer
satisfaction the loyalty towards the company. Not on this below show some issues in Samsung Company.
Hard to control the maintenance, technical support and warranty
Samsung have been outsourcing their business operations to specialist including warranty administration together with repair on display products.
Period of range for customer warranty is between two to three years. When customer return their completed warranty card supply with each product and
details for future verification then only it is entitled to registered. However the real problem comes when the current outsource provider failed to
maintain the level of service. Samsung need to think a better way of solving this problem so that they can have faster equipment repair turnaround,
better warranty entitlement management to get high level customer satisfaction.
Samsung Reached its 'tipping point' for Brand

The Development Of South Korea
South Korea was a developmental state that created an environment for the chaebols to thrive in. Ever since the reign of Park Chung Hee, the
government has created macroeconomic policies in order to allocate resources that favour some industries. The government's strategic use of subsidies
and the manipulation of prices and wages create conditions advantageous to the development of domestic industries especially in the manufacturing
sector. (Hundt, 2014). This created the suitable environment for chaebols to monopolize the domestic economy. The government was also instrumental
in helping the chaebols to bounce back after their collapse and near bankruptcy during the 1997 AFC. The government pushed for structural reforms
for the chaebols and then President Kin Dae Jung introduced eight policy goals under the guidance of the International Monetary Fund. The policies
goals were: (1) increase managerial transparency; (2) pressure corporations to focus on core businesses and divest themselves of unrelated enterprises;
(3) improve financial health; (4) end loan guarantees among affiliates; and (5) increase accountability of chaebol leaders for their performances. Three
more policy goals were added in 1999: (1) prevent industrial capital from dominating finance, (2) discourage circular investment between chaebol
affiliates, and (3) prohibit nepotistic transfer of management or ownership to family heirs. The changes prescribed were to help South Korea move
towards a more liberal and

A Report On Samsung Engineering And Construction
The Burz Khalifa in Dubai, the Petronas towers in Malaysia, probably two of the most iconic skyscrapers in the world. These were built by none other
than Samsung Engineering and construction (Wikipedia, 2016). Shocking as it may seem, Samsung engineering and construction is just one of the
80businesses and affiliates operating under the unified philosophy of Samsung. Some times when we look beneath the surface, fact is often stranger
than fiction.
In the year 1938,the western financial system was recovering from one of the greatestcrashes in history, on the other hand a second world war was
about to break out, a man by the name of Byung Chul Lee founded a small trading company named Samsung in Daegu, Korea (Samsung.com, 2016).
This company initially dealt with local groceries and had about 40 employees. At first the company produce noodles, then expanded into sugar and
then wool. And by the late 1950's the company had moved to insurance security and retail. In the late 1960's Samsung moved to electronics, and the
first ever product produced by Samsung electronics was a 12 inch black and white television in 1970 (Referenceforbusiness.com, 2016). By 1983 the
first Samsung computer had arrived (News.samsung.com, 2016). This computer was way ahead than Microsoft computers. In the 90's Samsung began
to rise as an international force in many industries. The company went from strength to strength, becoming market leaders by learning the trade of
many industries. In the end they

Malaysia's Alternative Strategy Essay examples
[MALAYSIA'S ALTERNATIVE STRATEGY]
Introduction The 1997 Asian Financial Crisis drew attention to just how fragile our global economic system can become either when overexposed to
foreign market intervention, or when underperformance remains unchecked. Prior to June 1997, The Republic of Korea encountered issues as 10 of its
30 top performing chaebol (Conglomerate) collapsed underneath debt which far exceeded their respective equities. Korean steel production giant
Hanbo faced additional stress after amassing a $4.39 billion debt for one new steel mill. Kia Motors fell due to accruing almost $2.1 billion in loans
that was awarded on the basis of "need," as opposed to independent judgment of credit and cash flow determined by the ... Show more content on
Helpwriting.net ...
On 2 July 1997 Thailand had $2,850 billion remaining in international reserves and could no longer protect the baht. That day Marakanond decided to
float the baht.
Asian Financial Crisis – Neighboring Countries
Neighbor South Korea dealt with economic uncertainty leading up to the 1997 currency crisis which plagued Thailand. South Korean chaebols or
conglomerates were recording record debt levels between 1996 and 1997. Banking policies enacted by President, or Dictator, Park during the late 80's
constructed an economic environment whereby loans to chaebols were issued on the basis of company need, as opposed to individual judgment on
part of the loan issuing authority. In more succinct terms, nationalized banks issues loans to chaebols without verifying whether the company could
pay the loan bank, or whether the interest rates were reasonable, or even whether the company's venture had enough collateral to back it up. In
essence, chaebols were tasked with repaying loans that they might not have the appropriate level of capital for. Therefore, on the eve of the Asian
Financial Crisis, chaebols such as Hanbo Steel, and others, were closing their doors due to debt burdens incurred without a proper foundation for
capital generation.
Neighbors to the South, Indonesia and others, suffered from currency, stock, and equity collapses, rather than tangible asset collapse. The currencies of
Indonesia, Singapore, Hong Kong, and others, took massive hits from

The Threats Of South Korean Interests Essay
What are the greatest threats to South Korea in the early 21st century, and how can they be addressed? This paper aims to address such questions
through identifying the three main threats to South Korean interests, proposing solutions to protect those interests, and evaluating the effect of those
solutions on the other identified interests and threats. The state 's main interests lie within bolstering its education system, reforming the economy, and
establishing greater military capabilities. Each interest has its own corresponding threat: widespread decline in personal health from performing under
the current educational system paired with associated social stress, competing with economic powerhouses in the region, and increased regional
aggression. For contextual purposes, this paper will be organized into five main sections. The first section will present relevant historical context for
South Korea. The following section will cover the interest/threat pairs, with subsections for each pair. The third section will more closely examine
national security as the interest of greatest importance and propose a solution to address the regional threat to South Korea 's stability. The fourth
section will evaluate the effects of the proposed solution on the other interests to suggest protocol to prevent negative effects, followed by a section for
final conclusions.
Historical Background
South Korea, formally known as the Republic of Korea or ROK, has become a competitive global

South Kore Asian Currency Crisis
Labeled as one of the most devastating economic events in the region, the Asian currency crisis of 1997, that began as a localized currency crisis
in Thailand that summer and rolled east, led to Korea suffering nearly a 7% decline in GDP (real GDP), along with a 6% increase in unemployment
levels in 1998. (Jangryoul Kim, 2012) Despite the fact the crises engulfed the entire Asian region, this paper analyses its impact on Korea. Despite
Korea being one of the world's poorest countries in the 1950s with a per capita income of under $100 (Sharma, 2003), following separation from the
North, South Korea (referred to as Korea throughout this paper) enjoyed lasting economic expansion from the 60s all the way up to 1997.
As the world's eleventh largest country in 1996, people expected Korea to surpass Japan in the coming millennium and Korea was invited to join the
OECD (Organization for Economic Cooperation and Development). The facts that by then Korea was the world's top manufacturer of computer RAM
chips, the world's second–largest ship–builder, the third largest maker of semi–conductors, and the fourth largest electronics producer meant that by the
time the currency crisis hit the surrounding region following a devaluation of Thai baht in July 1997, investors (defined in this paper as the general
public, plus speculators) believed that the crisis wouldn't hit Korea. These investors were either too blinded by the Korea's phenomenal economic
performance (a GDP equivalent to

Artificial Venture Capital ( Vc ) Market And...
Artificial Venture Capital (VC) Market and Overregulation as Limitation of the Policy
7. (U) In addition to the limitations of the government–led "top–down" approaches to building startup ecosystem, unwise policy measures to cultivate a
good venture capital (VC) investment environment is another limitation of the Creative Economy policy that must be addressed. In a 2014 research
paper published in the Korean Journal of Financial Studies, Professor Song Chi–seung of Wonkwang University points out, while the government–led
venture capital investments did play a considerable role in cultivating the VC investment environment in the ROK despite the global downturn of VC
funds after the 2008 Financial Crisis, they now act as an impediment ... Show more content on Helpwriting.net ...
The strict regulations for foreign VCs such as a minimum required investment of USD 1 million and the minimum number of employees to hire are the
fixed costs to the foreign VCs' investment in Korean startups and SMEs, he said. Mr. Lim contended that venture capital investment regulations must
be eased not only to attract foreign venture capitalists but also to provide startups and VCs a more convenient platform for exits through initial public
offerings (IPOs) or merge and acquisitions (M&As). Furthermore, Mr. Lim observed that excessive regulations in other areas also prevent a robust
growth of startup ecosystems. Specifically, the government's positive–list approach to regulations preventing new services such as peer–to–peer (P2P)
lending and Uber must be changed into a negative–list approach.
Controversial Roles of Chaebols in Building the ROK's Startup Ecosystem
9. (U) Above all, the strongest criticism against the Park administration's Creative Economy policy is the CCEIs' dependence on chaebols for
incubating startups and SMEs. The structure of CCEIs under which startups and SMEs must rely on the conglomerates for purchase of technologies,
equity investment and marketing has drawn criticisms from both academia and political circles. The critics argue that the CCEIs have made startups
and SMEs vulnerable to the conglomerates' stealing of their intellectual property (IP) and forced them

Market Liberalisation Success, Failures And Challenges
Evidence of Market Liberalisation Success, Failures and Challenges The BRIC emerging economies are some of the most successful market
liberalisers with India having particular prosperity in liberalising its inward capital flows and currency convertibility from 1991 to foreign
investors. Post liberalisation India is regarded as one of the fastest growing economies with an annual growth rate of 6.86% compared to 4.07% pre
liberalisation (World Bank, 2014). Economists such as Saikia (2012) regards this success down to India's rise in investment. In the decade after
reforms FDI inflows to India has grown by a staggering sixty fold increase to $6 billion (Kletzer, 2004) showing how the India economy has become a
major destination for FDI and is reaping the economic benefits. One of the policies causing this attraction is the ongoing gradual privatisation of varied
sectors. This gradualism approach has promoted efficiency through competition away from monopolized state owned enterprises but also into global
competition. The increased profitability of this process has created an environment for investors to thrive upon. Aside from India's great success the
issue of the continued dominant role of state–owned banks is an ongoing issue. India follows our theoretical argument of being inefficient due to
government guarantees and consequently must fund recapitalisation in the light of declining market share and profitability. However recent private
bank involvement in crises around the

Negative Effects Of Overwork
2.2 Negative effects brought by overwork
Concerning about work–life balance is the weakness in Samsung. As research showed, overwork may not lead to high productivity. Although the
working hours in South Korea is quite high compared with other OECD countries, the average productivity seems to be less in relation to the working
hours. As the OECD data shows, labor productivity was $31.90 per hour in South Korea in 2014, while the OECD average was $49 (The Korea herald,
2015). Define what OECD is
Firstly, the long working hours could make employees bored of work, which might lead to the reduction in cooperative, harmonious working
environment and psychological problem among employees. There seems to be a large decline in collectivism and negative effects in personality and
work climate (Yung–Ho C et al, 2014). All people desire to pursue a meaningful life, besides work, they have their own interests, their family and
their personal dream. If people cannot balance between work and personal life, they would not only be exposed to the risk of becoming a workaholic,
but also damaged in their psychological aspects and even long–term mental problems (Armitage K, 2001).
In addition, many physical risks could also be generated by stress, such as obesity, diabetes, heart disease and depression (workology, 2015). Samsung
experienced this problem a lot, many scandals in Korea have illustrated this, including some cases of suicide in Samsung. For example, in 2014, Choi
Jong–beom, who

The Political Economy of South Korea
The Political Economy of South Korea:
A Necessary Transformation
I. Introduction:
In this paper, I will discuss the measures that the Republic of Korea's (addressed as South Korea from here on out) government took in trying
accomplishing economic development despite its several economic and political upheavals. I will, specifically, review the economic growth and
institutions established in South Korea beginning in the 1950s, the process of democratization in South Korea, and the effects that the Asian Financial
Crisis of 1997 had on South Korea. With the background information of these factors, I will then delve into the importance of South Korea becoming
an economic power and the impact it has had on the United States of ... Show more content on Helpwriting.net ...
During the transition of forming a democratic nation, South Korea was not immediately successful in creating economic growth. In order to achieve
positive changes in the economy, democratization must be institutionalized. It was difficult for the economy to stabilize since mature institutions that
could guarantee growth were not created. Rather, the government tried to characterize the economy through fast changes and rapid economic growth,
when the government should have taken the time to institutionalize political and economic systems. It is the building of mature institutions that have
proven to be crucial in policy making and implementing a strong government that can maintain a consistent economic growth rate. IV. The effects of
the Asian Financial Crisis of 1997 on South Korea:
The era of economic growth in South Korea came to a halt in 1997 due to the Asian Financial Crisis that started in Thailand. By 1997, South Korean
banks reached 24 percent of the gross national product (GNP) in foreign debt; 58.1 percent of the total debt was short–term debt. A number of the
chaebol conglomerates were not only bankrupt, but also collected an average debt–equity ratio of almost 400 percent.
There were several reasons to why the financial crisis hit South Korea so hard causing its worst economic fall since the Korean War.

Case Study : Samsung And South Korea
Lee–Byung–Chull founded Samsung in south Korea, this company began by selling food. Nevertheless, after the second world war in 1945 the
company decided to branch out into different parts in the business from telecommunication, construction and medical care and more. When Samsung
decided to venture into different areas that's when they established themselves as a multi–international company Joseph Nordqvist (2014). In this essay
there will be an in–depth explanation on how Samsung has contributed to the economy, and how Samsung and south Korea has been working together
to try and improve technology in south Korea. Also an explanation on Samsung tax evasion scandal and legal battle between Apple and Samsung and a
debate about the environment impact Samsung has on South Korea.
Political
There was a huge scandal in South Korea that involved Samsung this scandal is world known and cause a domino effect on different business who was
essential doing the same things. Samsung Electronics being a part of the Samsung group is they do something wrong it will make the hole Samsung
group organisation look bad to the public. In south Korea two journalist and a politician called Roh Hoe–Chan exposed Samsung. What they did is
leaked information of Samsung paying prosecutors to bribe them, also they leaked information on how Samsung created funds that potentially aided
presidential candidates with illegitimate funds. Why Samsung was doing this is because politician in South Korea has a lot

A Report On Korean Industrial Production
Introduction
VoC approach does not provide sufficient prototypes.
South Korea is SME
Turkey is also SME because it has similar characteristics. State policies are similar.
However, outcomes of these state policies are quite different (give figures) In the mid–1950 's, Turkey was a much richer country than Korea. With
about the same population, Turkish GNP was about three times that of Korea, Turkish exports were fifteen times those of Korea, and the Turkish
savings rate was much higher than Korean. By 1980, the situation was dramatically reversed, as Turkish income was 40 percent below Korea 's,
Turkish exports were less than one–fourth those of Korea and the Turkish savings rate was about two–thirds of Korea 's. (Krueger)
There are either economic advantages or economic disadvantages to a military alliance with the United States, both countries had them. And, insofar as
proximity to a rapidly growing region of the world affects growth, Turkey and Korea had Europe and Japan, respectively (Krueger).
Korean industrial production rose forty–five–fold between 1960 and 1984, whereas Turkish industrial production was 6.6 times higher in the same
period. (Yilmaz)
During the period 1963–1990, total factor productivity (TFP) increased at an average rate of 2.4 percent in Korea. In this period, TFP in Turkey
increased at an average rate of almost 0.9 percent. (Yilmaz)
In the absence of big private businesses in Turkey, the state assigned a leading and dominant role

Doing Business in South Korea
DOING BUSINESS IN SOUTH KOREA BUSINESS ISSUE IN SOUTH KOREA South Korea continues a process of economic liberalisation and
deregulation, but the government has yet to adopt a fully laissez–faire policy where the economy and trade are concerned. The UK TI team in South
Korea works actively to lift or loosen the many regulatory barriers that still exist to ease UK–based company enter to the market(UK Trade and
Investment, 2009) Getting Paid – Terms of Payment The payment terms you can normally expect in South Korea are "100 percent Confirmed
Irrevocable Letter of Credit" . Letter of credit (L/C) is that adds the endorsement of a seller 's bank (the accepting–bank) to that of the buyer 's bank
(the issuing bank). It provides the... Show more content on Helpwriting.net ...
There were family–owned enterprises in Korea in the period before 1961 but the particular state–corporate alliance came into being with the regime of
Park Chung Hee (1961–1979). Park modeled this arrangement on the zaibatsu system which developed in Japan during the Meiji Era. There were
significant differences between the zaibatsu and the chaebol, the most significant of which was the source of capital. The zaibatsu were organized
around a bank for their source of capital. The chaebol in contrast were prohibited from owning a bank. The Park regime nationalized the banks of
South Korea and could channel scarce capital to industries and firms it saw as necessary for achieving national objectives. The government–favored
chaebol had special privileges and grew large. This gave the impression of economic success for the chaebol that was not always valid. In some cases
chaebol grew not because they were profitable but merely because they could borrow vast funds. When the international economy took a downturn
these debt–ridden businesses were in trouble. In 1999 one quarter of the manufacturers in South Korea did not earn enough to meet the payments
required for their debt. In recent years there has been the growth of mid–sized corporations which are outside of the chaebol arrangement. For example,
Appeal Telecom was started

Kore The Impossible Country
Since the World War II, when Korea got its independence from Japan, and the Korean War in 1953, Korea has worked hard to earn its reputation as
the "impossible country." According to Daniel Tudor, author of Korea the Impossible Country, Korea got its nickname as the "impossible country"
because only 50 years ago, the country was impoverished from the recent wars and went through couple of unstable regimes changes and yet,
Korea's economic growth since the 1960s has led the country out of poverty and has a stable democratic leadership . Korea has been able to grow its
GDP and its GNP since the 1950s, but not without a negative consequence. Thanks to General Park, Korea adopted an export–led economic system ran
by the Chaebols, business conglomerates, but it also shaped a hard working style culture that still reflects today's work life in the 21st century.
South Korea has been able to grow as a strong state thanks to its strong leadership like General Park Chung Hee, but also due to its "industrial
soldiers." The term industrial soldiers was coined during the 1960s when General Park took office in 1961. General Park and his administration
knew that in order to dig Korea out of poverty, "South Koreans needed to focus on developing human skills and then put them to unceasing use. "
Since Korea was not well developed in the '60s, General Park knew the best strategy to improve their new export oriented economy was by having low
wages and intensive labor. Therefore,

Cobalt Systems and SiverLight Electronics
1. Present the discrepancies of business practices, policy and strategy between the 2 countries Cobalt Systems is a multinational corporation present in
more than 50 countries divided into regions. Cobalt Systems is a highly centralized organization as all the operations throughout the world are
overseen by 13 US based 'Management Board' members. The company large number of layers between the Management Board and the local
employees (hierarchical organization) doesn't allow much room for empowerment. It is an ethnocentric company with a people oriented culture that
provides all its local employees around the world with extensive training in order to socialize them to the Cobalt culture. Moreover, Cobalt Systems
insists on fully... Show more content on Helpwriting.net ...
SilverLight wants its employees to do things the 'Silverlight way' and join the 'SilverLight family' for the rest of their careers whereas Cobalt wants
all its employees around the world to adopt the Cobalt culture. Cobalt sees its subsidiaries as national assets that have to be closely protected from
competitors and therefore fully owned by Cobalt whereas SilverLight is seen as a Korean pride by the Koreans and the government and is
cross–owned by a multitude of firms forming the SilverLight Chaebol. Cobalt's world operations are overseen by 13 US based Management Board
members creating a hierarchical organization whereas SilverLight is part of a horizontal multi–industry organization (the SlverLight Chaebol) and he
still closely tied to the government due to historical reasons. 2. Using the cross–cultural criteria defined in class, list the expected discrepancies in the
behavior of the Korean and US negotiators. For western companies and American ones in particular, time is money. However, in Asian cultures time is
no relevant at all. It is probably why it was the Korean company rather than the American one who decided to take a break in the negotiation process.
Therefore, the American negotiator will have to learn to take his time and not rush the conversation directly to business matters. It is important to know
that Koreans want to get to know the people they are going

Japan And Korea Economic Impact On Global Economy
INTRODUCTION
Japan and Korea are two of the strongest economies of Northeast Asia and have been very important players in global economy since the start of
globalization era. These two economies have major impact on global economy. Both the economies have experienced various external and internal
challenges. Therefore, it is important that we look at how these economies have been performing historically, more specifically since 1980s, so that
we could get an idea about who might be a more significant player in the global economy in the future.
History shows that both the economies have experienced high growth rates and crises and both the economies dealt with implementing various
policies. Both the countries responded to the crises in ... Show more content on Helpwriting.net ...
Japan government was under a huge pressure to recover the economy under a lot of pressure to improve the economy and was unwilling to force banks
to restructure their loans portfolio policy otherwise can result in the failure of major keiretsus.
Many critics consider that Japan's macroeconomic policies should have been more aggressive and steady. These policies should have been more
flexible in order to recover from great recession. Conventional measure shows that the fiscal and monetary policies of japan were expansionary.
These policies lowered the interest rates very rapidly. Caballero, Hoshi and Kashyap (2003) stressed on the zombie firm to explain why lower interest
rates and big budgets deficits have not emphasized the zombie firm explanation and explained why the low interest rates and big budget deficits have
not transformed the economy. The low interest rates had helped to keep the banks alive and boosted the aggregate demand to some extent due to deficit
spending. But none of these policies concentrated on closing the insolvent banks and getting rid of their zombie borrowers who were affecting the
economy. The government policies also upset the rehabilitation and restructuring. For example, the government permitted the poorest banks to carry on
to attract financing and supported the insolvent borrowers by constantly delaying the advance of the deposit insurance to limit its exposure (Hoshi and
Kashyap 2004). The regulators also choose not to strictly enforce

South Korea: Country Attractiveness Report
FACULTY OF BUSINESS AND ECONOMICS KATHOLIEKE UNIVERSITEIT LEUVEN D0M19B– International Business Strategy SOUTH
KOREA Shortened Country Attractiveness Report Antoine Hirschland Prof. Dr. Sleuwaegen Leo– 2010 – I. Introduction Thanks to the globalization,
Asian economy is drawing more and more the attention of the rest of the world. Nevertheless, when we talk about economic growth in Asia, we think
mostly about China, India or Japan whereas South Korean economy is staying quite unknown in Belgium. However, since the war in the Korean
peninsula and the formation of the Democratic People's Republic of Korea (North Korea) and the Republic of Korea (South Korea) in 1948, South
Korea has becoming a major economic... Show more content on Helpwriting.net ...
Regarding technologies, South Korean industry has always been a pioneer in the technological know–how which has allowed the country to become
one of the most advanced countries in this field. Lastly, the education system has always been based on rigour and excellence (South Korean higher
education and training ranked 15th in the GCR) that allowed the country to build up a high–skilled workforce. B. Demand conditions The Korean
home demand is characterized by high buyer sophistication. Indeed, according to the GCR, South Korean buyer sophistication ranks 11. This can be
explained (in part) by the high level of education. Moreover, this sophisticated home demand means that consumers require products of high quality and
influences positively the development of capabilities and pressures South Korean firms to be competitive and to innovate in order to respond to this
demand. C. Firm strategy, structure, and rivalry The Korean industry organisation is characterized by the predominance of large groups (as LG,
Hyundai, Samsung etc.) called chaebols doing business in a large diversity of activities. The structure is therefore principally oligopolistic. Currently,
chaebols are responsible of the majority of Korean exportations. The Korean economic growth has therefore been mostly concentrated on the
development of those –3– chaebols supported by financial institutions and the government at the expense of small and

The Road to the Self-Reliance New Product Development of...
THE ROAD TO THE SELF–RELIANCE NEW PRODUCT DEVELOPMENT OF HYUNDAI MOTOR COMPANY
June 1995 Young–suk Hyun Ph.D Professor, Business Administration Han Nam University Taejon KOREA
133 Ojung–dong Taejon 300–791, KOREA Tel : 82–42–629–7588 Fax : 82–42–672–7183
1
THE ROAD TO THE SELF–RELIANCE NEW PRODUCT DEVELOPMENT OF HYUNDAI MOTOR COMPANY
1.
Introduction
2.
Hyundai 's Philosophy in New Product Development (NPD): The Road to the Technological Self–reliance
3
Key Role Persons in NPD
4.
NPD Strategy
5.

NPD Operations
and Outputs
6.
Brief Project History
Case Case Case Case
I II III IV
: : : :
Sonata New Grandeur Accent Alpha Engine
(1988) (1992) (1994) (1991)
7.
Conclusion ... Show more content on Helpwriting.net ...
1,134 393 340 100 620 210 51 18 46 8
G. M Ford (10%), Kia 's Benz 5 % from 1972 Mazda(8%) subsidiary (50%) Itozu (2%) firm but ended from 1986 in 1992
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––Remark: C.V : Commercial Vehicle ; truck and bus Data:
KAMA (Korea Automobile Manufacturers Association)
Mitsubishi from 1982 (15 %)
Hyundai Motor became the thirteenth ranked auto maker––1.1 million in production and 400,000 cars exported to over 170 countries. new products in
1995 and currently offers including seven indigenous models––ranging a full from line Hyundai added two of automobiles–to large
sub–compact

automobiles; Accent 1,300–1,500 cc Avante 1,500–1,800 cc Sonata II 2,000 cc Elantra 1,500–1800 cc Stellar 1,800–2000 cc (for taxi only), Marcia
2,500 cc
New Grandeur 2,000–3,500 cc
Production share of Hyundai rose to nearly 65% in 1985 but it maintains about 50% levels in the 90s. Total sales in 1994 were nearly 10 billion
Hyundai plans

Analysis of the Korean Economy
Introduction
South Korea's history, strategic location, and political relations in the past and today, have created an economy which is one of the strongest in
Southeast Asia. "According to the World Bank, in the last 30 years, South Korea's economy is one of the most outstanding success stories in
international development." (Globaled, p.1). Dating from the Japanese occupation of South Korea , from 1910 thru 1946, then the division of the
peninsula enforced by the United States of America and the Union of Soviet Socialist Republics after Japan's unconditional surrender during WWII; the
Republic of Korea (ROK) had gone throughout drastic changes in its social, economic, and political structure, but in the 1960s, under the regime ...
Show more content on Helpwriting.net ...
The WWII allies had convene that Korea would become free and independent after the war. The United States and The Soviet Union had agreed to
divide Korea at the thirty–eight parallel. There was a plan to drive Korea to a democratic nation as a wholesome, but disagreements on what type of
government should run the new country between USA and USSR blocked the negotiations and to the day the Korean Peninsula still divided. The
though of leaving Korea divided did not seat well in the population minds. "The prospect of perpetuating the division of Korea catapulted some of the
southern political leaders to action, significantly altering the political configuration there. The choice they faced was between immediate independence
at the price of indefinite division, or postponement of independence until the deadlock between the United States and the Soviet Union was resolved."
A divided economy With the division of the Korean Peninsula at the thirty–eight parallel came complete chaos to the region. Back when the Japanese
occupied and dominated Korean society and economy, most Koreans were forced to leave their land because the Japanese had expropriated it.
Employment was not where in the horizon for these farmers. Hundreds of thousand farmers and worker left Korea looking for new opportunities in
China, Japan and Manchuria. With the

The Power And Wealth Of The Chaebol
As I have stated earlier, the Chaebols have gained significant advantage to become the top class due to government control of the financial system in
the 1960s. The power and wealth of the chaebol could be best explained by the music video "Gangnam Style", produced by Park Jaesang, who is
known as Psy in the video. As of June 2014, on the CNN Entertainment website stated that "Gangnam Style" has "charted a new record: 2 billion
YouTube views" (Conlon, 2014) and has become the most watched video in YouTube history. The video is enjoyed enormously by the American
public, which is kind of puzzling, because many do not know the Korean language, therefore, are unable to understand what the video is really talking
about.
The video went viral and became a sensation because the main character Psy intentionally ridicules himself by performing exaggerated and bizarre
choreographies with beautiful women and expensive garments in the video. Psy wanted to especially focus on the change of modern Korean culture
toward a culture catered to the narcissist and pretentious people in Korea, even the singer expressed in a interview that "Human society is so hollow,
and even while filming I felt pathetic. Each frame by frame was hollow" (Fisher, 2012). The underline message of the video was about class and
wealth problem in present–day Korean society. Gangnam is a district in Korea that is known for its heavily concentrated wealth and high standard of
living. Offspring of the Chaebol

How Is Samsung Successful
Samsung Group Success
Bus 478
Wing Hung
#200138620
October 11, 2007
Samsung is one of the biggest conglomerates in the world with businesses established in shipbuilding, contracting, and electronics. Global revenues in
2005 alone reach over 56.7 billion (Secrets of Samsung 's innovation success, 2006) and brand tracking firm Interband ranked Samsung as the 20th
most valuable brand in the world (As Sony gets a tune–up, Samsung Zooms Ahead, 2005). Samsung was not really recognized as an international
powerhouse until the 1990s where before it was largely considered only a household name in Korea. So what lead to the success of Samsung in the
1990s? While there is no one deciding factor or event that lead to Samsung 's success, ... Show more content on Helpwriting.net ...
The following few years, Samsung saw record profits for their 1MB DRAM and 4MB DRAM.
Samsung was then recognized as a major player in the semiconductor industry, but they realized they had to continually get better and more efficient at
what they do to try to get a competitive advantage over their competitors who still had a big lead in market share. They realize that the semiconductor
environment is very dynamic and their competitors could come up with something innovative and new that could instead give them a great advantage.
In December of 1995, they invited a group called the Competitive Semiconductor Manufacturing program to their plant to do a survey on them. The
Competitive Semiconductor Manufacturing program was based out of the University of California and they specialized in benchmarking
semiconductor plants around the world and analyzing their management practices (Leachman, Kang, and Lin, 2002). Their findings were astonishing to
the Samsung Group, they had many strong points like have excellent yields and productivity of equipment and labour, but the weak point was their
high manufacturing time (Leachman et al, 2002). The average number of days for production of the DRAM chip was 80 days, well above the
industry average. The market was quickly changing from a seller 's market to a buyers market in 1996 due to a price

Samsung Electronic Corporation: Governance of Chaebols
CASE:
SAMSUNG ELECTRONIC CORPORATION: GOVERNANCE OF CHAEBOLS
Copyright: Prof. Florencio Lopez–de–Silanes
Professor Florencio Lopez–de–Silanes and Rakhi Kumar, Yale MBA02 prepared this case as the basis for class discussion rather than to illustrate the
effective or ineffective governance of an organization.
Prof. Florencio Lopez–de–Silanes INTRODUCTION
Case: Samsung Electronics
Prior to the Asian currency crises, South Korea was an investment destination for several institutional investors and emerging market funds. Throughout
the early nineties the country experienced an economic boom. South Korean conglomerates, locally know as chaebols, had diversified into various
industries from cars to microchips. Samsung ... Show more content on Helpwriting.net ...
However, the globalization strategy was not well planned. Chaebols held onto the management strategy that they had been practicing over the last thirty
years: growth in size ignoring profitability; financial structure with high debt–to equity ratio and cross debt guarantee among affiliated companies.4 By
1997 there were over fifty chaebols in South Korea, each with a myriad of affiliated companies all linked to one another through a complex network of
cross–holdings. Ownership and affiliation details of twenty chaebols are provided in Exhibit 1.
Family–Based Business Groups: Degeneration of Quasi–Internal Organizations and Internal Markets in Korea by Sang–Woo Nam, December 2001. 3
Ibid. 4 Corporate Governance and Economic Development: The Korean Experience by Ha Sung Jang.
2
2

Prof. Florencio Lopez–de–Silanes THE SAMSUNG GROUP: It is all in the family.
Case: Samsung Electronics
Founded in 1938 by Mr. Byung Chul Lee, Samsung Group's original line of business was exporting dried fish, vegetables and fruits produced around
Korea to Manchuria and Beijing in China. Within a few years of incorporation, the company expanded its operations to include manufacturing and sales
when it set up a flourmill and bought confectionary machines. In

Economic Development in South Korea
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 ... Show more content on Helpwriting.net ...
As a result of the fixed real exchange rate, it prevented Korean exported goods becoming more expensive relative to competing goods in the world
market. The devaluations of Korean won ultimately stimulated exports further.
II. Information Services: Quasi–government organizations As a major financial control strategy, the President Park established the Economic Planning
Board (EPB) in July 1961. The decision–making in the government became decentralized through granting extensive autonomy to the
quasi–government organizations including the Economic Planning Board. The EPB committee was consisted of several policymaking functions of
different ministries. The EPB took over the entire budgetary function from the Ministry of Finance, as well as the collection and evaluation of national
statistics from the Ministry of International Affairs. The duties included deciding which industries and firms to promote, supervising both the
development and the implementation of planning of each ministry's activities. The EPB was in charge of formulating and monitoring implementations
and budget of Five Year economic development plans. Detailed information was reported to the President at the monthly economic briefings.
Consequently the EPB became more influential in economic planning decisions, and their growth greatly strengthened the power of Ministry of
Commerce and Industry. As one of the export promotion strategy, the government created the

Case Study Of Samsung Life Insurances
SAMSUNG LIFE INSURANCES
It was founded in the year 1957, the company saw a remarkable growth soon it entered the market and was in leading position after just 18 months of
operations. Samsung Life Insurances believed in transparency and always made innovation in their product and made itself approachable to customer
always, these factors lead to the growth of this division at a great pace than estimated. It soon started to expand itself overseas through joint ventures
in Thailand in 1997 and China in 2005.The net income in the year 2015 was US$ (.85) billion with total asset worth US$ 195 billion. It is the largest
insurance company is South Korea and was listed in Fortune Global company.
SAMSUNG ENGINEERING
It was founded in the year 1970, ... Show more content on Helpwriting.net ...
There was Asian financial crises which didn't go well for Samsung cars and with no option to be left it was put for sale. Renault after negotiation
bought 70% stake and the name of the company was modified to Renault Samsung motors, the company started to invest in research and development.
It came up with an electric car which was a huge hit in the South Korean market dominated by Hyundai and Kia.
SAMSUNG ELECTRONICS
Samsung is considered as one of the best smart phone and mobile phone manufacturer against other manufacturers. It is also the world's largest
manufacturer of televisions as well as LCD panels. This is because of its manufacturing and its marketing expertise. Samsung currently operates in 80
countries and sells over more than 100 products.
In 2015, revenue generated by this company was US$177.365 billion (2015) but faced a decrease of 2.7% in the revenue generated against the year
2014 which was US$182.273 billion. Profit gained by the company was US$16.848 billion in the year 2015 which was 18.5% lesser than the profit
earned by the company in the year 2014 which was US$20.679 billion. Samsung Electronics co., Ltd. a part of the Samsung group is the world's second
largest company by

Samsung Electronic Corporation: Governance of Chaebols
CASE: SAMSUNG ELECTRONIC CORPORATION: GOVERNANCE OF CHAEBOLS Copyright: Prof. Florencio Lopez–de–Silanes Professor
Florencio Lopez–de–Silanes and Rakhi Kumar, Yale MBA02 prepared this case as the basis for class discussion rather than to illustrate the effective or
ineffective governance of an organization. Prof. Florencio Lopez–de–Silanes INTRODUCTION Case: Samsung Electronics Prior to the Asian currency
crises, South Korea was an investment destination for several institutional investors and emerging market funds. Throughout the early nineties the
country experienced an economic boom. South Korean conglomerates, locally know as chaebols, had diversified into various industries from cars to
microchips. Samsung Electronics... Show more content on Helpwriting.net ...
It 3 Prof. Florencio Lopez–de–Silanes Case: Samsung Electronics managed four strategic businesses in the fields of Home, Mobile, Office Network
and Core Components. However, in 1997, excess production capacity in the microchip industry lead to a downward spiral in chip prices. Profits at
Samsung Electronics plunged to new lows. The Asian Currency crises compounded the problems facing the company. By late 1997, the company's
debt totaled 13 trillion won (approximately USD 9 billion) and more than 70 percent of it was in foreign currency loans5. The financial run on the
economy by foreign institutional investors saw the country's currency tumble 10.6 percent. Domestic interest rates on threeyear corporate bonds hit
30.1 percent. The US rating agencies, in addition to downgrading the sovereign debt to "junk bond" status, also lowered the credit worthiness rating
for several of the largest South Korean companies including Samsung Electronics6. The company's share prices reflected the macro and micro
economic turmoil faced by the company. Exhibit 5 provides daily share prices of the Samsung Electronics stock on the Korean stock exchange for a
15–month period starting September 1996. However, a liner trend line indicates that, by and large, the share price was declining marginally but was
above the 50,000 won mark. After a period of negative results, minority shareholders started questioning governance practices of the company. They

Oligopolistic Rivalry Theory: LG Electronics, Inc.)
Oligopolistic Reaction Theory (Oligopolistic Rivalry Theory)
This theory "gives further reason for MNEs to follow others" (Fitzgerald, 2015, p.3). In order to maintain market shares and gain potential sales
revenue, firms follow their competitors to overseas market. Korean firms follow "bold internationalization strategies, which were not entirely
sustainable give their competences or ownership advantage. In market–seeking or export–preserving cases, a combination of protectionist threats and
oligopolistic rivalry has pushed Korean firms to venture onto risky markets." (Sachwald, 2013, p. 368). Oligopolistic reaction theory suggests that
Korean firms expand overseas to maintain balance with rivals, and to enhance image. (Cherry, 2001, p.21). ... Show more content on Helpwriting.net ...
As a result, it has significantly reduced its production costs. According to figures by Moon cited by Jung and Dong (2009), about 98% of LG's
employees in China are local works, and more than 80% of resources and components are locally sourced (p.129). Regarding technology learning,
LH has invested abroad to learn about or to access foreign technology. For example, LG Electronic purchased a 5% share of Zenith in 1991 (p.129).
"The main purpose of the investment was to acquire knowledge of 'flat screen TV' technology and to acquire a brand name. LG Electronic
subsequently increased its stake in the company to 57.7% in 1995 and eventually took over the company in 1999 (p.130). According to Alvis (2012),
Korean electronics manufacturers are expanding to Central Europe to take advantage of the region's well–educated, inexpensive work force, and its
proximity to European markets (p.2). According to Dunning's OLI paradigm,

Financial Crisis And Its Effects On Economic Growth
The late half of 1997 and the early parts of 1998 presented the world with one of the world's most famous financial crises. This financial crisis proved
to be detrimental mainly to the south–eastern Asian area, including South Korea, Thailand, Malaysia, Singapore, Hong Kong and Indonesia. The
aforementioned south–eastern states recorded astounding economic growth in the preceding decade. The downfall of the economy caused a domino
effect in the local markets and currency markets of each country. The nations' leaders, as a result, had to request assistance from the IMF. Politics were
important in creating the financial boom, but they were also guilty of the subsequent consequences. Similar to a number of financial crises in the past,
the Asian financial crisis came to be as a result of unexpected economic growth. The countries were all under the influence of a number of different
economic criteria, such as cheap yet fairly well educated labour, lowered barriers to trade, and economies based heavily on exports. Even Malaysia
enjoyed bountiful foreign direct investment. All of these elements came together to make Asia dominant force in exports. This was proven by the fact
that none of the countries affected by the crisis experienced of export growth lower than 12% between 1990 and 1996. Not only did these countries
experience rapid growth in exports, the nature of the exports where product types are concerned also changed. The products evolved from simple
products like

Why Are East Asian Business Groups so Common?
Why Are Business Groups More Common In East Asia? It is thought that since the early 1960's business groups have been a vital asset to the
industrialization and economic growth of East Asian Countries. A 'business group' is a group of legally independent firms bound together in a formal
or informal way. They have shown extreme rapid growth throughout East Asia, and have become a very controversial topic when relating to East Asia's
financial development, often being referred to as "paragons or parasites". There are many proposed features of business groups, both positive and
negative, that have resulted in their rapid formation and substantial growth in Asia. During East Asia's early economic development, the main capital
markets... Show more content on Helpwriting.net ...
This allows for the act of tunnelling, which is a way of directing company assets and future business towards core owners so they can retain control
over the country's corporate sectors with low cash flows. Tunnelling methods such as providing low interest rates, selling assets, lowering market
prices, technology licensing and joint ventures, means dominant share holders can have the direct benefit of using retained earnings for personal gain
at a minority shareholders expense, hindering their development in capital markets. Not only this, but growth has been linked to diversification, a
consequence of expropriation, and its impact on organisational performance. However, this theory is conflicting because structural characteristics,
resulting from family ownership, can decrease the popularity of business groups in terms of outside investors, and complex company linkages can
relate to inefficient investment, unreliable accounting and possible inadequate managers through inheritance. The Korean "Chaebol" is an example of
a vertically organized pyramidal business group still controlled by a number of founding families. The Chaebol , contains many well known successful
companies such as Samsung, LG and Hyundai and consists of centralized ownership,

The Cause of the Asian Financial Crisis
This is a review of the political reasons that caused the Asian Financial Crisis in 1997. The review is made on 5 papers by 5 authors on the subject.
Introduction
The Asian Crisis of 1997 and 1998 affected many of the East Asian and South East Asian countries surprised many. This was due to the fact that in the
early and mid–1990s these same countries were lauded as model economies with high Gross Domestic Product (GDP). Yet within a space of a few
months in mid–1997, the currency crisis become a financial/economic crisis as many of these countries currencies were greatly devalued resulting in
the contraction of their economies. However, the severity of the Asian Crisis was not uniformly felt.
Many books, research papers and ... Show more content on Helpwriting.net ...
Due to this, "their states were 'strong' for their struggle to industrialize but 'weak' because of the web of enmeshment; they are semi–sovereign states"
(Cummings, 1999).
The end of the cold war meant that America no longer had to rely so much on Japan and Korea to safe guard against the advancement of communist in
South East Asia. Therefore from early 1990s, America has pushed for these countries to adopt multilateral economies (i.e. be more open to accept
American goods and investment). However, Japan and Korea were resistant to this new form of economic policy.
Though no actual action by American was provided in the paper that resulted in the Asian Crisis, the author does state that the crisis allowed America,
through the International Monetary Fund (IMF) to implement their economic model to Korea. This was done to maintain American's hegemony in
Asia, which before the crisis may have shifted to Japan. That is one of the reasons provided by the author on why America was firm in its refusal to
allow the 'Asian Fund' proposed by Japan to materialise.
C.Jeffrey A Winters. 1999. The Determinant ofFinancial Crisis in Asia. In The Politics of the Asian Economic Crisis. Cornel University Press.
Winter's paper seeks to explain the source of the crisis and the reason why certain countries were more affected by the crisis than others. The author
"posit that the source of

Case Study Of Democratization Of Hyundai
Introduction
Marketing Strategy Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to
increase sales and achieve a sustainable competitive advantage.
Developing a marketing strategy
Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. Plans and
objectives are generally tested for measurable results. Commonly, marketing strategies are developed as multi–year plans, with a tactical plan detailing
specific actions to be accomplished in the current year. Time horizons covered by themarketing plan vary by company, by industry, and by nation,
however, time horizons are ... Show more content on Helpwriting.net ...
These changes allowed HMC to downsize. The "democratization of Hyundai" was also affected by the political democratization movements in Korean
society during the late 1980s. Despite the positive effect of this societal change, most
Korean Chaebols faced a sequence of labor–management disputes. HMC was not an exception.
The HMCs first labor union was born at the Ulsan plant in 1987 and took the main role of conveying employees' voices to the management group.
Although Se–Young Chung emphasized that "the stable, constructive, labor–management relationship is the starting point for sustaining growth,"
HMC was drawn into the unprecedented vortex of labor strikes in 1987 and 1988, which resulted in huge sales losses
The 1997 East Asian crisis dealt a heavy blow to Korean Chaebols. Half of the top 30 Korean
Chaebols, including Daewoo, went into bankruptcy in 1997 and 1998. The Hyundai group also suffered a liquidity crisis. In response to requests from
the IMF and foreign companies, the
Korean government began to pursue a major reform of the Chaebol system and pushed Chaebols to improve their managerial transparency and
professionalism, and spin off unrelated

South Korea
Country report
South Korea – Electronic
Yu Ming Lin
Country Profile
In February 1945 the end of World War II, Korean Peninsula divided into North and South Korea. South Korea also name Republic of Korea, 99,392
sq. km, has a population of almost 50 million, and has its capital at Seoul, the largest city in Korea. The second largest city is Busan, which is the
country's main port, has wonderful nature harbor beside the delta of Nakdong River.
The major industrial prior 1948 was agriculture in Korea peninsula, South Korea was in a sever environment of economic. The war damage and the
refugee from North Korea keep South Korea inflation and unemployment.
Korea is full of mineral source, however, most minerals concentrated in the North ... Show more content on Helpwriting.net ...
(Data from http://ec.europa.eu/) Top Exports And Imports
With the success of Samsung and LG, South Korea has become the world's leader in electronic industries. Therefore, the major export from South
Korea is electrical machinery and equipment and parts. And its export industries require foreign machinery and equipment for production, so electronic
elements become a main import for South Korea when South Korea has surpassed Japan and the United States in selling memory chips, that's why
importing chip machinery is so important for South Korea's economy. They also are doing well in shipbuilding (Samsung Heavy Industries) and
automobile industries (Hyundai KIA) showing that South Korea became car. When they become the number five car company in the world, Hyundai
KIA is trying to expand more into China and India's emerging markets. As a result, ships, boats, and vehicle are part of major export, so the iron and
steel play an important role in import. South Korea also have heavy depends on fossil fuels, South Korea is the second largest importer of liquefied
nature gas, and most from Malaysia, Indonesia, Qatar, and Oman. (Data from WTA) Data from (http://www.eoearth.org) (http://www.indexmundi.com)
Foreign Direct Investments Inflows
During the 1997–1998 the Asia financial crisis, but it provided a great period for foreign company to invest in Korea market. In the passed 10 years,
the China's economic growth and keep investing in other

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