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BUSA 3000 South Korea

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BUSA 3000 South Korea
South Korea: Where Investment and Business Blossoms
Country Background
• Name of Country: South Korea
• Neighboring countries: China to the west, Japan to the east and North Korea to the north. Southern half of the Korean Peninsula, bordering the Sea of Japan and the Yellow Sea.
• Territorial size of South Korea: 96,920 sq km
• Population size: 48,860,500
• Political system: Democracy
• Current prime minister: KIM Hwang-sik
• Political party in power: Democratic United Party or DUP
• Form of law: Combination of European civil law, Anglo-American law, and Chinese classical thought
• Economic system: high-tech industrialized economy
• GDP and GDP per capita: $1.574 trillion; $32,100
• Major natural resources: coal, tungsten, graphite, molybdenum, lead, hydropower potential
• Major imports: machinery, electronics and electronic equipment, oil, steel, transport equipment, organic chemicals, and plastics. Its main partners are China, Japan, Saudi Arabia, and Australia.
• Economic integration organization: ASEAN (Association of Southeast Asian Nations
• Currency: South Korean won (KRW)

Introduction South Korea’s perfect location for trade has made businesses attractive to investors coming from all over the world. Their favorable location in the southern half of the peninsula, has given the nation a tremendous advantage for international business. My paper will discuss why despite the global recession, businesses should invest in the golf market in South Korea. The reasons for these are: government policies that support growth in this sector (ASEAN, FTA, EU), a cultural obsession with the game of golf and the growth of businesses investing in South Korea. Before developing my thesis, I think it is important to provide a historical overview of South Korea and its start of successful economic rise. South Korea was an independent Kingdom for a long time until it was occupied by Japan in 1905. Korea regained its independence in 1945 with the


Cited: Kim, Myung Oak, and Sam Jaffe. New Korea : An Inside Look At South Korea 's Economic Rise. n.p.: AMACOM, 2010. eBook Collection (EBSCOhost). Web. 8 Nov. 2012. "INVEST KOREA." INVEST KOREA. Korea 's National Investment Promotion Agency, 8 Nov. 2012. Web. 08 Nov. 2012. . Parker, Philip M. "The 2011 Import And Export Market For Golf Equipment In South Korea." Country Trade Reports (2010): N.PAG. Business Source Complete. Web. 8 Nov. 2012. United States. Central Intelligence Agency the World Factbook. Policymakers. CIA. Office of Public Affairs, 5 Nov. 2012. Web. 08 Nov. 2012. . United States. US Embassy in Seoul. Business. Doing Business in Korea. US Commercial Service, 15 Mar. 2012. Web. 08 Nov. 2012. . Why Korea? Dir. TradeGov. Perf. John Fogarasi. YouTube. YouTube, 17 June 2010. Web. 08 Nov. 2012. . Morgan, Giles. "Golf 's 2020 Vision: The HSBC Report." HSBC. The Group Head of Sponsorship and Events, Mar. 2012. Web. 15 Nov. 2012. .
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