close
test_template

South Korea:opportunities and Disadvantages

About this sample

About this sample

close

Words: 512 |

Page: 1|

3 min read

Published: Apr 11, 2019

Words: 512|Page: 1|3 min read

Published: Apr 11, 2019

Table of contents

  1. Opportunities in South Korea
  2. Disadvantages in South Korea
  3. Relationship between Bangladesh and South Korea

South Korea, also known as the "Asian Dragon", is one of the most important global economic powers today. Not only is the local economy very well off, it’s also open to foreign investment. A series of steps needs to be taken in order to understand the best approach, before exploring more. To open a foreign company in South Korea, first step that is a must is to report the branch to a specified foreign exchange bank and complete the court registration and business registration. To create a commercial entity or limited liability company, a minimum capital of 50 million Korean Won (about 36,000 euros) is required. Moreover, the company status must be certified by a notary and a founder shall be appointed for registration. The Board of Directors of the company will then be responsible for its management.

Opportunities in South Korea

South Korea's growth is a mix of quick achievement of 100% literacy that started in Japanese occupation, significant land reforms that made the middle class, significant market reforms that helped the middle class trade with the world and a demographic one-time lottery. Most communist nations miss the stage 3 thus they are educated with land reforms with booming growth. Many crony capitalist nations miss stages 1 & 2, thus they have a "free" market but without a populace that is educated and with land to make use of the market. South Korea made sure they ticked off all its boxes.

Disadvantages in South Korea

Hangul is the main language used in South Korea with different accent. Many South Koreans do speak English with limited vocabulary but most of South Koreans can’t speak English properly. The Korean young population is quite risk averse. This is changing a bit as many students show more interest in entrepreneurship. The lack of a startup culture is also big concern for foreign business owners.

Relationship between Bangladesh and South Korea

Bangladesh’s export to Korea is growing fast, as by the portrayed bilateral relations in the last 47 years of diplomatic ties.

Bangladesh is Korea’s ‘priority partner country’ when it comes to the development cooperation as it is the fourth largest recipient of Economic Development Cooperation Fund loan from one of the world’s largest economies. Now Korean investors were running garment factories with more than 160,000 workers in Bangladesh, accounting for 6 percent of the total exports of Bangladesh, according to the envoy.

Apart from apparel, big companies like Samsung and LG are expanding their commercial presence in Bangladesh while small and medium-sized enterprises are also coming.

It is also building a Korean Export Processing Zone in Chittagong, the first private EPZ in Bangladesh that expects to attract investment of $ 1.3 billion from all over the world.

Get a custom paper now from our expert writers.

The two-way trade is now close to $ 2 billion, Bangladesh’s export was growing faster than ever before mainly due to duty-free access of Bangladeshi products. The exports have increased drastically – by 75 percent – in 2016 compared with 2014. Av. yearly growth (2005-13): 80%. Compared to other East Asian countries, trade in Korea has remained at moderate level. Opportunities for enhancing bilateral trade are largely unexplored.

Image of Dr. Oliver Johnson
This essay was reviewed by
Dr. Oliver Johnson

Cite this Essay

South Korea:opportunities and Disadvantages. (2019, April 10). GradesFixer. Retrieved December 8, 2024, from https://gradesfixer.com/free-essay-examples/south-koreaopportunities-and-disadvantages/
“South Korea:opportunities and Disadvantages.” GradesFixer, 10 Apr. 2019, gradesfixer.com/free-essay-examples/south-koreaopportunities-and-disadvantages/
South Korea:opportunities and Disadvantages. [online]. Available at: <https://gradesfixer.com/free-essay-examples/south-koreaopportunities-and-disadvantages/> [Accessed 8 Dec. 2024].
South Korea:opportunities and Disadvantages [Internet]. GradesFixer. 2019 Apr 10 [cited 2024 Dec 8]. Available from: https://gradesfixer.com/free-essay-examples/south-koreaopportunities-and-disadvantages/
copy
Keep in mind: This sample was shared by another student.
  • 450+ experts on 30 subjects ready to help
  • Custom essay delivered in as few as 3 hours
Write my essay

Still can’t find what you need?

Browse our vast selection of original essay samples, each expertly formatted and styled

close

Where do you want us to send this sample?

    By clicking “Continue”, you agree to our terms of service and privacy policy.

    close

    Be careful. This essay is not unique

    This essay was donated by a student and is likely to have been used and submitted before

    Download this Sample

    Free samples may contain mistakes and not unique parts

    close

    Sorry, we could not paraphrase this essay. Our professional writers can rewrite it and get you a unique paper.

    close

    Thanks!

    Please check your inbox.

    We can write you a custom essay that will follow your exact instructions and meet the deadlines. Let's fix your grades together!

    clock-banner-side

    Get Your
    Personalized Essay in 3 Hours or Less!

    exit-popup-close
    We can help you get a better grade and deliver your task on time!
    • Instructions Followed To The Letter
    • Deadlines Met At Every Stage
    • Unique And Plagiarism Free
    Order your paper now