Asian pacific business since 1997: Samsung and South Korea
- South Korea: Development, model and chaebol.
- Development of South Korea.
- Brief overview.
- Political and economical changes.
- South Korean model.
- Role of Chaebol in this model.
- Case study: Samsung, one of the most important Chaebol of South Korea.
- Overview of Samsung.
- Development of Samsung.
- The development of Samsung in relation to the development of Asian Pacific economies.
- Analysis of the success of the Asian economies.
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.
[...] 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. [...]
[...] This essay should make us able to answer to two very important question of the topic: does the development of Samsung reflect the development of South Korea and Pacific Rim countries in general? And, do Asian economies have become more like other successful international economies? To finish, this essay will allow us to highlight some characteristics of South East Asian economies in terms of culture, evolution but also in terms of the role that they are playing in the globalization. [...]