Swot Analysis Of South Korea

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An important part of doing business decision is assessing the political environment in which a firm operates. Laws and regulations passed by any level of government can affect the viability of a firm’s operations in the host country. Minimum wage laws affect the price a firm must pay for labor like the zoning regulations affect the way it can use its property and the environmental protection laws affect the production technology it can use as well as the costs of disposing of waste materials. Adverse changes in tax laws can slowly destroy a firm’s profitability. Civil wars, assassinations, or kidnappings of foreign business people and expropriation of a firm’s property equally dangerous to the viability of
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They have made rapid industrializing regions since 1945. While many publications still classify the Four Tigers as “emerging markets”, they have in fact already emerged, as indicated by their having achieved high-income classification by the World Bank and for more than a decade. The Republic Korea, more commonly known as South Korea, was born of the Cold War, which left the Korean peninsula divided into communist North Korea and capitalist South Korea. Since the end of the Korean War in 1953, South Korea has been one of the world’s fastest-growing economies. Merchandise exports accounted for 44% of its 2009 GDP of $833 billion. To promote economic development, Korean relied on tight cooperation between the government, privately owned, and family-centered conglomerates that dominate the Korean economy. Stable democracies have grown slightly faster than imperfect…show more content…
It is essential for foreigners or multinational companies in South Korea to understand those cultures and use them appropriately to work better with Korean employees or partners. All of these critical aspects of the Korean culture have strong influences on the way how to do business in South Korea. More and more foreigners and foreign companies have been doing business with Korean and Korean companies.
For the last decade as many Korean companies become major players in global markets with their impressive performance. As foreigners and foreign companies are more involved in business with Korean and Korean companies, they would often face some difficulties of handling their daily business with Korean and Korean business people because of different expectation, practices and behaviors in each stage of business. Most of those differences come from cultural differences between Korea and other countries. Although Korea is regarded as one of the

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