Sales diplomacy

Article Abstract:

South Korea hopes to open up the Latin American market. Korean President Kim Young Sam, will tour Guatemala, Chile, Argentina, Brazil, and Peru accompanied by the corporate heads of some 40 Korean companies. They hope to build markets for Korean cars, consumer electronics, and textiles, among others. Currently, Latin America accounts for less than 5% of Korea's total trade volume. Nonetheless, the trade surplus amounted to $3.4 billion. Latin America's 450 million consumers and abundant natural resources make it a highly attractive target.

Exports, Latin America, Balance of trade

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Relax! That's an order

Article Abstract:

South Korean corporations are trying to reinvent their internal cultures in an effort to compete in global business. Companies are initiating management reforms at home as they increase their exposure to international markets. The Korea Long Term Credit Bank has designated Wednesdays as English-only days where all employees are required to speak English or face a fine. Reforms will benefit women as discrimination slowly disappears in South Korean business.

Management, Corporate reorganizations

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Improving a miracle

Article Abstract:

South Korea's giant electronics manufacturers are engaged in a program of rapid overseas expansion and are building factories around the world. Samsung, LG and Daewoo are investing billions of dollars building overseas facilities because South Korea has become too expensive for export production. The country's domestic market is becoming more competitive as the government removes restrictions on imports of consumer electronics.

Household audio and video equipment, Consumer Electronics, Audio and Video Equipment Manufacturing, Economic aspects, Consumer electronics industry, Asia

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