Asian pacific business since 1997: Samsung and South Korea

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Asian pacific business since 1997: Samsung and South Korea

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Abstract

Everybody knows Samsung, Toyota, Sony, LG or even Hyundai which are very famous brand all over the world. Those very successful companies have similarity. Indeed, all of them come from the Pacific Rim. The Pacific Rim is defined by "far Eastern countries and markets bordering the Pacific Ocean, consisting of Australia, Cambodia, China, Hong Kong, Indonesia, Japan, Korea, Laos, Malaysia, New Zealand, Papua New Guinea, Philippines, Singapore, Taiwan, Thailand and Vietnam" (InvestorWords, 2008). This region of the world has been guided by the success of Japan and its business group called Keiretsus which is currently the most powerful country of Asia. We have also noticed the quite recent development of other Asian countries and particularly the development of the four Asian tiger which are South Korea, Singapore, Hong Kong and Taiwan. The Pacific Rim is a very powerful region but also very competitive taking advantage of, very efficient hubs (e.g. Singapore is the world's biggest port) and of an incredible growth for a few years ago due to the opening of their market and their ability to produce cheaper than other countries.

Introduction.
South Korea: Development, model and chaebol.
Development of South Korea.
1. Brief overview.
2. Political and economical changes.
3. Industrialization.
4. Internationalization
5. Culture.
South Korean model.
Role of Chaebol in this model.
Case study: Samsung, one of the most important Chaebol of South Korea.
1. Overview of Samsung.
2. Development of Samsung.
The development of Samsung in relation to the development of Asian Pacific economies.
Analysis of the success of the Asian economies.
Conclusion.
References.

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[...] Case study: Samsung, one of the most important Chaebol of South Korea Overview of Samsung (Samsung, 2008) The Samsung group is the largest South Korean conglomerates, one of the most important Chaebol of South Korea and one of the largest multinationals of the world in leading several major industries. The company was founded in 1938 by Lee Byung-Chul who has opened his first store in Daegu. Two years after he decided to extend its activity by opening the Samsung Trading Company in Seoul. [...]

[...] Success As everybody knows, Samsung is a very successful group since its creation and we have notice a huge development inside of the company through many diversifications (insurance, electronics Even if the company has to cope with different economical problem such as the Asian crisis in 1997, Samsung has always been able to react in order to keep being competitive in both local and international market thanks to the brand ability to anticipate what can happen in the future. This ability to anticipate has allowed the company to be prepared for an eventual crisis but also allows the company to anticipate the demand and, in this way, to rapidly offer products which are able to satisfy this new demand. [...]

[...] For example the boss of Samsung has been educated with a Japanese education Conclusion South Korea, one of the four Asian tigers, was one of the poorest countries of the world at the beginning of the 20's century. After the Second World War, capitalism has been set up by United States. From the end of the Second World War, the country began to develop its economy through political changes. The industrialization was a key moment of the South Korean development and has allowed gaining competitiveness in both local and international market. [...]

[...] It is evident that there is a link but we can even add that the development of Samsung reflects the evolution of South Korea through different factors such as industrialization, globalization, and Asian success all over the world. Do Asian economies have become more like other international successful economies? We have noticed that South Korean economy is very successful like some other Asian economies and also like other international economies such as American or even European economies. In this way we can say that Asian economies have become more like other international successful economies. [...]

[...] The South Korean pattern is guided by several business groups which are called Chaebol and this is why it is of importance to focus on it. The authoritarian State has been inspired by the Japanese system. The Chaebol are the large, conglomerate family-controlled firms of South Korea characterized by strong ties with government agencies. There were family-owned enterprise in South Korea and the regime of Park Chung Hee modelled this arrangement on the Zaibatsu system which has been developed in Japan during the Meiji Era (The Chaebol of South Korea, 2008). [...]

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