Global and business report FINAL and indiviual report

Topics: Korea, Population ageing, Health care Pages: 38 (4718 words) Published: April 22, 2015

CGE25101
Globalization and Business

Group Project

Tutorial Group
TA4
Tutor
Mr. Joe Pong
Date of Submission
29-11-2013

Number of Words
2079

Project Group No.

Group 6
Project Title

CAREASE enter South Korea Market

Group Member
1. LAM NIM YEN (Student ID 53107529 )

2. IP HANG LOH (Student ID 53107321 )

3. LEUNG TING HHE (Student ID 53106300 )

4. CHAN KEIT (Student ID 53105468 )

Content

Background
P.3
PEST
P.4-7

Entry mode
P.8
Marketing strategy
Product
Place
Promotion
Price
P.9-18
Management
P. 19
Hiring and management
P.20
Appendix
P.21-31
Reference
P.32

Background:

In figure 1, it is easy to understand South Korea is facing a rapidly aging population problem, which means that the demand of professional elderly services is increasing.

CKICOM Technology Limited is a health care product company which determined to use a science-based, people oriented technology to alleviate nursing problems encountered when taking care of the bed-ridden or disabled

We decided to introduce the flagship product, CAREASE Integrated Wetness Care System, a series of wetness care products designed to provide a more scientific and humanistic wetness care system.

CKICOM Technology Limited entered in Asia like Japan, Hong Kong, and if CAREASE can draw into South Korea with same technology, it is effective to solve population problem since they have experience in entering Asia.

1. PEST (Political)

South Korea is one of the countries of seniority; the country is more concern “respect". Korea is becoming the most desolation place. One out of two senior people live in poverty, while one in three to five suffers from abuse from their children or neighbors.

According to national policy on surveillance Korea Ministry of the Health and Welfare show the relevant Korean older living index that the worst in major countries.

According to United Nation statistic, Asia-Pacific of ageing keep increasing. In 2000 to 2025, prediction of ageing population will increase from 8.7% to 14.9%. When the Asia’s population increase by 1%, the ageing population is growing at three times the rate of growth. South Korea of government more concern about healthcare; they provided by a compulsory Nation Health Insurance, everyone living in South Korea is eligible to apply. Also, foreigners living in South Korea can receive same medical benefits and services.

South Korea promotes the social insurance system that provides a long term care to elderly. High quality healthcare is available in South Korea. [Figure 2, 3 & 4]

PEST (Economic):

Economic system:
Market Economy – private parties (individuals or businesses) own majority of land, factories, and other economic resources.

Human Development Index [Figure 5 & 6]
The HDI shows a broader definition of well-being and provides a composite measure three basic dimensions of human development: health, education and income. Between 1980 and 2012 Korea's HDI rise at 1.6% each year, it gives the country a rank of 12 out of 187 countries. The HDI of OECD as a region increased from 0.756 in 1980 to 0.888 today, placing Korea above the regional average. The HDI trends highlight the large gaps in life chances.

The figure shows a phenomenon that Korea pay attention on their Health development, with a prosperous and developing health care system. South Korea have advantages in high skill products like CAREASE.

Population [Figure 7 & 8]
Refer to figure 7, from 2008 to 2012, population increase 0.25% each year. While population aging is a global phenomenon.

As the rapid aging of Korea population creates challenges for governments and societies, new opportunities are emerging for businesses serving elderly and their caretakers.

Across Asia, large corporations in industries raced to come up with new products and services for elderly,...
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