Japan, South Korea Steel Themselves

In: Social Issues

Submitted By lrnzxgrc
Words 461
Pages 2
China, Japan and South Korea are the big three in Asia in terms of steel industry. Since 2008 these three East Asian steel giants have accounted for over half of global steel consumption and supplied over half the world's steel. According to the China Iron & Steel Association, China produces about half the world’s steel and exports are on pace to exceed 80 million tons this year Competition between these countries is very tough right now due to the devaluation of the yuan and it will cause the disruption of the steel exports of Japan and South Korea. This is a great move for the Chinese steel exporters because this will increase the export percentage of China for it will lower the price of the Chinese steel which will intensify its demand and supply. Also Japan, South Korea and other countries are worrying about their sales because of the dominance of China.

If I am a businessman I would prefer the steel which were from China because I will save more money since the value of the yuan is devaluating and I will grab this opportunity to buy in glut so that I will not have a hard time if I will be needing more steel. As what Tatsuro Kano had stated it could affect the Japanese market in terms of imports from China because more businessmen will patronize the steel from China since it’s cheaper than any other steel.

In my own opinion, I think there are some points to consider; First, for me it is a very strategic move of China to defeat it competitors because the value of their money is cheaper than the other. Secondly, I am not surprised if China did this, because trade is all about business and it is very important for them to think critically on how to defeat their competitors so that they would acquire more profit. And lastly, for me I will still check the quality of the steel that I import because I don’t want to experience that I saved money but the quality of…...

Similar Documents

Economic Comparison of South Korea and Japan

...An Economic Comparison of Japan 日本国 And South Korea 대한민국 Introduction South Korea and Japan have had a close relationship from ancient history to the present day. Because of this reason, their economic growth and development have similarities and disparate differences. This paper will discuss some of the two countries’ major characteristics including geographic, social, and political characteristics and look at their histories and economies. Another reason that it is natural to compare them is their economic growth has mirrored one another. Both emerged from a war with its economy devastated and its infrastructure in ruins. Both countries changed with the economic climate of the time and took advantage of foreign investment in order to rebuild. Finally, both countries used their strengths to develop their economies to the point that they are world leaders in their field. Finally, both counties enjoy close political and economic relations with the United States, with each country being among our Top 10 largest trading partners. We have been a good friend to both, which has helped to stabilize relations in the regions between the two. Brief History (Since World War 2) The Korean Peninsula was occupied by Japanese forces for 35 years, from 1910 until the end of WW2 in 1945. Due to existing agreements, Japanese forces in Northern Korea surrendered to the Soviets and those in South Korea to the United States. The Korean War (1950-1953) was an......

Words: 2960 - Pages: 12

South Korea:

...South Korea: Korea regained its independence following Japan's surrender to the United States in 1945. After World War II, a Republic of Korea (ROK) was set up in the southern half of the Korean Peninsula while a Communist-style government was installed in the north. During the Korean War (1950-53), U.S troops and UN forces fought alongside soldiers from the ROK to defend South Korea from DPRK attacks supported by China and the Soviet Union. An armistice was signed in 1953, splitting the peninsula along a demilitarized zone at about the 38th parallel. Thereafter, South Korea achieved rapid economic growth with per capita income rising to roughly 14 times the level of North Korea. South Korea today is a fully functioning modern democracy. Korea is home to a set of large firms, so called chaebols, which can be classified as multinational enterprises (MNEs) In the list of the world’s largest 500 companies, ranked by sales for2001 found 12 Korean firms. In 2004, there were 11 Korean firms in the list of the world’s largest 500. These large firms are analyzed here as the basic set which will determine the success of Korea in developing MNEs. The literature in international business analyzes the growth and foreign expansion phase of MNEs. The starting point of this theory of the MNE is the proposition that an MNE goes abroad to further expand on its firm-specific advantage (FSA).These can be technology based, knowledge based, or they can reflect managerial and/or marketing......

Words: 619 - Pages: 3

North Korea and South Korea

...After the war between North Korea and South Korea the North stayed communist but the South went back to its natural state meaning that it was not communist. -- Well, North Korea and South Korea went to war in the late 40's or early 50's (before then, Korea was one whole country.). The economy and government are very different between the two countries. South Korea is a perfectly good country. They have cell phones and cars and internet and they're a democracy (things you probably take for granted if you live in the US or Canada or South Korea or pretty much any other free country). But in North Korea things are different. Kim Jong ll rules over North Korea. In North Korea, people are pretty much brainwashed from a young age that the ruler of the country is always right, no matter what, and there's nothing you can do about that. North Korea doesn't have internet, and even though there's a few buses there, there's no such thing as a traffic jam there. They just started allowing cell phones, only a few people have them. International calls and texts aren't allowed. North Korea is basically a country that's closed off from the rest of the world. It's very difficult to leave the country. You might not be able to leave without a good reason, and if you do get to leave you might not be able to come back. It's pretty hard to travel there too- you can't just hop on a plane and fly there. Of course people do escape from time to time- but most people don't even try, don't even......

Words: 521 - Pages: 3

South Korea

...REGIONAL STUDIES PAPER ON SOUTH KOREA 1. Have you ever sat back and wondered what it would be like to live in another country. What is the first thing that comes to mind when you think of South Korea? Most likely it will probably be the Korean War or maybe even the 1988 Olympics. You may even, some day, be stationed there. I personally experienced the country first hand through a tour between 1988 and 1989. Korea is one of our major theaters of operation so it is very important for us to understand a little about their culture and where they came from to prepare for any future missions or tours in their arena. In order to introduce us to this fascinating country we will initially talk about their rich history. We will then cover a little about the people and their culture and finally, we will discuss their economy. Now that we have a vector, let’s start by discussing South Korean history. 2. Many historical events following World War II have culminated to shape the South Korea that you and I know today. The country came into being immediately following World War II, as a result of a 1945 agreement which made the 38th parallel the boundary between them and neighboring North Korea. The new republic was proclaimed on Aug. 15 and was recognized as the legal government of Korea by the United Nations (UN) on Dec. 12, 1948. On June 25, 1950, North Korean Communist forces launched a massive surprise attack on South Korea, quickly overrunning Seoul, the capital......

Words: 1087 - Pages: 5

South Korea Business

...Doing Business in South Korea South Korea has to be classed as one of the world’s great economic success stories. Along with Taiwan, South Korea is the only country which has recorded five consecutive decades of economic growth in excess of 5%. This is an amazing achievement which is the result of careful governmental macro-engineering, sound business practice and sheer hard work from the population at large. Economists feel that, given the lengthy stagflation seen in Japan, that it will not be too long before South Korean levels of prosperity are at a par with Japan. Both South Korea and Japan are intensely conformist societies (one of the many similarities between the two countries) but they differ in one fundamental thing. When faced with hardship or adversity the Japanese tend to turn inwards and backwards towards the familiar and comfortable whereas the South Koreans are absolute masters of change and rebuild. If things aren’t working, they just change them and they have proved adept at doing this very quickly and very effectively – you only need to look at the contrasting reactions to the crisis that hit Asia in the 1990’s. Japan is, arguably, still recovering while South Korea has long been in rude health. South Korea has also re-invented itself as the cultural epicentre of Asian culture. Korean pop music, or K-pop, has been exported with great success all over the continent and Korean TV dramas are watched from Tokyo to Beijing. South Korean films......

Words: 3076 - Pages: 13

Economic Reforms in South Korea

...Economic Reform in South Korea: An Unfinished Legacy by Marcus Noland, Peterson Institute for International Economics Paper prepared for the conference "Korea as a 21st Century Power" University of Cambridge April 3-6, 2002 © Peterson Institute for International Economics   Introduction Since 1997 South Korea has been on an economic and political roller coaster. Between 1997 and 1998 forecasts of annual economic growth swung from +7 percent to -7 percent, and the country elected Kim Dae-jung, former dissident, future Nobel Peace Prize winner (and University of Cambridge honoree), and avowed economic reformer, president. However President Kim's weak electoral position—he was with only a plurality of support and forced to form a governing coalition with an ideologically dissimilar conservative party—and the continuing regional nature of South Korean politics have impeded the formation of a stable political coalition in favor of reform. Today, despite the enormous political power granted to the executive under the South Korea constitution, Kim is effectively a lame duck. Constitutionally limited to a single term, he confronts a hostile national assembly controlled by the political opposition, his personal popularity has fallen below 30 percent, and his party is trailing in public opinion polls in the run-up to December's presidential elections. Yet in spite of these challenges, a hundred other countries would envy the forecast of 5 percent growth and five percent......

Words: 5866 - Pages: 24

South Korea

...Country report South Korea – Electronic Yu Ming Lin Country Profile In February 1945 the end of World War II, Korean Peninsula divided into North and South Korea. South Korea also name Republic of Korea, 99,392 sq. km, has a population of almost 50 million, and has its capital at Seoul, the largest city in Korea. The second largest city is Busan, which is the country’s main port, has wonderful nature harbor beside the delta of Nakdong River. The major industrial prior 1948 was agriculture in Korea peninsula, South Korea was in a sever environment of economic. The war damage and the refugee from North Korea keep South Korea inflation and unemployment. Korea is full of mineral source, however, most minerals concentrated in the North such as gold, coal, ore, iron and graphite. There are some tungsten, amorphous graphite, coal, and iron in South Korea and the distribution percentage is North 80%~90% to South 10%. International trade Balance Of Payment The table above is the South Korea’s balance of payments account and this table can track the payments to and the receipts from other countries from 2006 to 2010. As we can see the current account surplus in all five years and it means that these five years South Korea exports more goods, services, and income than it imports. (Data from world databank) The Current Account In October 2011, South Korea’s current account surplus US4000 Million. South Korea’s growing economy relies on exports, and the most important......

Words: 4979 - Pages: 20

Comparing Korea to Japan

...1. Introduction Korea and Japan have close relationship ever since their ancient histories to this day. Because of this reason, their economic growth and development have similarities but on the other hand, due to their different characteristics, they also have differences. This paper will discuss some of the two countries’ major characteristics including geographic, social, and political characteristics and look at their histories and economies. 2. Geography Korea - Korea extends about 1,000 kilometers to the south from the northeast part of the Asian continent. It consists of the Korean Peninsula and over 3,400 islands. Since 1945, as a result of the WWII, Korea has been divided into North Korea, and South Korea. The total area is 221,607 square kilometers. South Korea owns 99,237 square kilometers and 45% of the total land, while North Korea owns 122,370 square kilometers, the remaining 55%. Korea is mostly consisted of mountain range with 70 percent. The Mountains Taebaek connects the full length of the east coast. Japan - Japan has four main islands - Honshu, Hokkaido, Shikoku, and Kyushu - and more than 3,000 small islands cover an area of 377,727 square kilometers. These islands extend over 3,000km in total length, and it spreads about 300km in width. Japan is covered with mountains about three-fourths of the national land. Mt. Fuji divides the center of Honshu with 3,000-meter high, the main island. Japan has around 200 volcanoes, among them about 60......

Words: 2111 - Pages: 9

South Korea

...South Korea Raises $250 Million in Policy Bank Share Sale i) Summary: The South Korean government managed to sell down its stake in Industrial Bank of Korea by 4.2%. The sale raised around $250 million, which is double of what was originally expected. This sale is good news for the government of President Park Geun-hye because he has pledged to help individuals who are financially troubled as well as small businesses. This sale is expected to help secure budget revenue in addition to furthering stake sales in the following year. It also helps by releasing more liquidity into the market. In mid-2011, the government had failed at its attempt to lower the governments stake in IBK from 68.9% to 60.5%. In total, the government sold 23.2 million shares at a fixed price of 11,400 won ($10.75) per share. The finance ministry stated both local and foreign investors evenly shared the offering. IBK was established as a bank policy to support small and midsize businesses in 1961 and went public in 2003. ii) Background: Industrial Bank of Korea has contributed to facilitating the economic activities of SMEs and enhancing their economic status. IBK has proven itself during challenging times such as the 1997 Asian financial crisis and the 2008-2009 global financial crisis. IBK started with only 200 million capital stock but is now a powerful bank that competes globally with the world’s best banks. As the world’s seventh largest exporter, South Korea has......

Words: 1320 - Pages: 6

Is Compare Japan-Korea Cosmetic

......................................................................... 14 3.1.2. KOSE ............................................................................................................ 20 3.1.3. Summary of similarities and differences of major Japanese cosmetics company marketing strategies ................................................................................... 25 SECTION 2. KOREAN COSMETICS COMPANIES.............................................................. 27 3.2.1. Amorepacific Corporation............................................................................ 28 3.2.2. Skin Food ...................................................................................................... 33 3.2.3. The Face Shop Korea Co.,Ltd...................................................................... 35 3.2.4. Similarities and differences of major Korean cosmetics company marketing strategies ................................................................................................... 38 SECTION 3. COMPARISON OF JAPANESE AND KOREAN COSMETICS BRANDS ................ 39 CHAPTER 4. SURVEY OF THAI CONSUMERS........................................................41 SECTION 1. INTRODUCTION AND PURPOSE OF QUESTIONNAIRE ................................... 41 SECTION 2. DEMOGRAPHIC BACKGROUND OF RESPONDENTS ...................................... 41 SECTION 3. ASSESSMENT ON SELECTING GENERAL COSMETICS .................................. 42 SECTION 4. ASSESSMENT......

Words: 24685 - Pages: 99

Politics of South Korea

...Economy of South Korea By Henry Graves Dr. Davis September 27, 2014 South Korea is known as one of the emerging economies of the entire world. The South Korean economy has been growing at a steady pace for the past 15 years; this is being accomplished with a dangerous situation with their northern neighbor. When the Korean War ended in 1953 by an armistice that defined the international boundaries between North and South Korea. However, these boundaries are merely a line of truce and hostilities continue between both sides as a search of a just reunification is sought by both countries, but by differing visions on the political future of the Korean peninsula. The question that must be addressed is how does South Korea continue to maintain their dominance in the economy of East Asian nations. The answer can be found by looking into the past history of Korea starting after the end of the Korean War, the present economic policies of the current government of South Korea, and what might the nation need to address in order to maintain their competitive advantage in the region. However, before I begin to look at the past history of South Korea's economy, I must state the present statistics of what has been accomplished in the country. Currently, South Korea is the fifteenth largest economy when measured by GDP and is twelfth in the purchasing power parity. The country has been experiencing economic growth starting from the 1960s until the......

Words: 1823 - Pages: 8

The Korea and Japan

...RYAN LIM YI ZHE CLASS : DBS 1 SEMESTER : SEMESTER 1, 2013 COURSEWORK : Presentation Topic : Japan VS Korea Introduction The topic that I choose for the presentation is Japan vs Korea. These 2 countries are near to each other. Japan is in the continent of Asia. Its country is made up of many islands. Since the sun rises in the east, Japan is often called "The Land of The Rising Sun. "The Japanese refers to their country as "Nippon" or Nihon" which means "source of the sun". The Japanese flag represents a red sun on a white background. The capital of Japan is Tokyo. In fact it is one of the largest cities in the world. It is modern, very busy, and extremely crowded. In fact, today, Japan is a modernized country. They have factories, televisions, radios, cameras, and other familiar objects. Japan has a population of about 127 million, of which 99 percent are Japanese. The Japanese economy is one of the third largest in the world. On the other hand, Korea is located between China and Japan on the Korean peninsula. The peninsula is approximately 1030 km long and 220 km wide. The population of Korea is about 49 million and almost a quarter of that population lives in Seoul. Other major cities in Korea include Busan, Daegu, Daejeon, Incheon, Ulsan and Kwangju. About 70% of Korea is mountainous making for some great hiking, scenery and photography. In addition, there are also beautiful beaches and islands around......

Words: 627 - Pages: 3

South Korea

...OVERVIEW OF SOUTH KOREA WOOD, WILLY 09, JULY, 2015   Introduction This paper is an analysis of the country of South Korea. Using the operational variables of PMESII-PT this paper will identify the current situation in South Korea and the countries current issues. The overall objective is to understand the motives of South Korea. Political The Republic of Korea has a liberal democratic political system. South Koreas political foundation resides in the sovereignty of the people and the responsibility to maintain every citizen’s welfare. Currently the president of South Korea is Park Geun-hye. The 11th and first female president was elected on February 25th, 2013. With Korea’s limited 5 year presidency she has until 2018 to implement her current goals. President Park’s main goals are to maintain the prosperity and safety of her country. She believes that one day tensions will cease with North Korea and continually pushes for a peaceful unification despite the constant threats and military provocations of North Korea. As long as the United States and South Korea maintain their strong relationship, Park said, "You may rest assured, no North Koreans provocation can succeed."(1) North Korea is a shared enemy of the US and the Republic of Korea. The ROK relies on the US for protection against a possible invasion of North Korea and in return the US maintains a strategic hold in Southeast Asia. Military The ROC currently has the 7th strongest military......

Words: 2085 - Pages: 9

Emerging Markets South Korea

...Elaine Hannah Why Invest in South Korea? Elaine Hannah Why Invest in South Korea? Why invest in emerging markets? To cash in where growth is today, and for the foreseeable future. But success is only possible if you have chosen the right entry modes to your market and understand the environmental, political and sociocultural factors of the chosen host country. This report analyses South Korea and demonstrates this emerging market is there for the taking if approached with shrewdness. The South Korean Government, after the financial crisis in 1997, decided it needed to make its country attractive for foreign direct investment, which resulted in the release of the Foreign Investment Promotion Act in 1998. This opened up a passage for 99.8% of Korea’s industry for direct investment. This report looks at the successes and failures of FDI’s in South Korea referred to as Korea from hereon, and what business factors influence these outcomes. Global Business Project Lecturer: Enda Murphy Student: 1063289, 1602617, 1728607 No of Words: 6198 Why invest in emerging markets? To cash in where growth is today, and for the foreseeable future. But success is only possible if you have chosen the right entry modes to your market and understand the environmental, political and sociocultural factors of the chosen host country. This report analyses South Korea and demonstrates this emerging market is there for the taking if approached with shrewdness. The South Korean......

Words: 9441 - Pages: 38

Political of South Korea

...POLITICAL South Korea is a Republic with powers shared between the president, the legislature, and the courts. They were liberated on August 15, 1945 and the constitution was created in July 17, 1948. They have the following governmental bodies: Branches: Executive--President (chief of state) elected for a single 5-year term; Prime Minister (head of government). Legislative--unicameral National Assembly elected every 4 years. Judicial--Supreme Court and appellate courts; Constitutional Court. Subdivisions: Nine provinces, seven administratively separate cities (Seoul, Busan, Incheon, Daegu, Gwangju, Daejeon, Ulsan). The Republic of Korea (commonly known as "South Korea") is a republic with powers nominally shared among the executive, the legislature, and the judiciary, but traditionally dominated by the president. The president is chief of state and is elected for a single term of 5 years. The 299 members of the unicameral National Assembly are elected to 4-year terms; elections for the assembly were held on April 11, 2012. South Korea's judicial system comprises a Supreme Court, appellate courts, and a Constitutional Court. The judiciary is independent under the constitution. The country has nine provinces and seven administratively separate cities--the capital of Seoul, along with Busan, Daegu, Daejeon, Gwangju, Incheon and Ulsan. Political parties include New Frontier Party (NFP), Democratic United Party (DUP), Liberty Forward Party (LFP), Unified......

Words: 774 - Pages: 4