International Business Study 2012 Republic of Korea Enabling Opportunities
STAR Study International Business Study Association RSM Erasmus University www.ibsresearch.nl | ibs2012@rsmstar.nl | +31 (0)10 408 20 37 Republic of Korea 2012
WHAT IS IBS? International Business Study (IBS) is a project of STAR, the Study Association of the RSM Erasmus University. Every year IBS offers profit and non-profit organizations tailor-made contract research in emerging markets. IBS provides practical, sustainable, and high quality information because of its desk and field research, which results in well-considered decisionmaking for companies. The quality of the project will be guaranteed by two professors who support the project and the access to a number of useful information resources provided by IBS contacts. This year, IBS will provide its services in the Republic of Korea.
BUSINESS OPPORTUNITIES IN THE REPUBLIC OF KOREA The Republic of Korea - a progressive country. The economy has grown very fast starting from the 60s. In 40 years the Republic of Korea became one of the biggest economies worldwide. Its economy is Asia’s 4th largest ecomomy and world’s 13th largest economy on purchasing power parity (PPP), according to the World Bank. The Republic of Korea is listed 8th in the ‘ease of doing business’ ranking and in the ‘trading across borders’ ranking, it is listed 4th out of 183 countries. The Republic of Korea is one of the world’s most technologically advanced and digitallyconnected countries; it has the third most broadband Internet users among the OECD countries and is a global leader in electronics, digital displays, semiconductor devices, and mobile phones. The country also leads the world in the shipbuilding industry. As becoming more environmentally conscious is a trend among its population for the last years, the Korean government has been actively pursuing a more environmentally sustainable economy. The renewable energy sector is therefore a growing sector. Since July 2011 the Republic of Korea and Europe agreed on a Free Trade Agreement. Because of the decreasing (or already removed) import tariffs, trading with the Republic of Korea becomes more attractive. Besides that, the protection of intellectual property in the Republic of Korea is improved.
International Business Study Republic of Korea 2012
PROMISING SECTORS In the general research phase a lot of sectors are investigated for investment opportunities in the Republic of Korea. The sectors listed below are among the most promising, and we will be happy to share ideas on how you can grab opportunities in those sectors. * Renewable energy * Pharmaceutical market * Chemicals * Online video gaming * Agriculture/horticulture * Dredging/flood prevention * Water sector * Insurance
* E-commerce * Niche banking * Logistics * Architecture/construction * High-tech * Electronics * ICT
Cross Points (IBS 2010 Chile) “We are very satisfied with the results, which are very useful to us. Through IBS, we have been able to establish contacts with several local players within the Chilean market. The approach that IBS has employed really appeals to us and we are planning to copy this approach in other countries.� Dhr. Remon Spekreijse Director Crosspoint
International Business Study Republic of Korea 2012
International Business Study Republic of Korea 2012
OUR SERVICES
Whether your company is considering expanding to the Republic of Korea or is established there already, IBS provides you with unique business solutions. In cooperation with you, we compose tailor-made research studies ranging from setting up strategies appropriate for the Korean market to writing business plans in order to do business in the Republic of Korea. Therefore, with IBS, the possibilities are unlimited. If your company currently has no specific need for research in the Republic of Korea, IBS offers several ways in which to expand the brand awareness of your organization. There are several possibilities for sponsorship or advertising.
Philips Healthcare (IBS 2010 Chile) “We are more than satisfied by the research performed by the IBS team for the Home Healthcare Markets in Chile and Argentina. The detailed reports they send to us, the professionalism showed on it and the positive comments we received from some of our interviewed customers overfulfilled our expectations. For sure we will use their data and their recommendations to plan our future strategy in these territories. I hope to have the opportunity to work together again with them in the future.” Javier M. A. Libré Healthcare Senior Manager Philips Healthcare - Latin America http://www.medical.philips.com
International Business Study Republic of Korea 2012
PROJECT PROFILE
The IBS project is carried out by 20 carefully selected senior students at RSM Erasmus University with the support of two professors. The project runs from October 2011 until October 2012 and comprises two stages: General Research From October 2011 on, a preliminary general research study of the country is conducted. The aim of this exploratory research is to gain insight into the emerging market and gather information of practical value to companies interested in the Republic of Korea. Contract Research During this phase, initial contact with the companies is established in order to offer the tailor-made services of IBS. After the first contact, we will present the potential clients with a research proposal. Once the proposal has been certified, we will conduct desk research for several months, followed by three weeks of field research in the Republic of Korea. * Field Research In July 2012 IBS visits the Republic of Korea to conduct field research. The field research comprises company visits as well as initiation the first contacts with possible business partners for Dutch companies. The precise implementation of the field research depends on the specific needs of your company. * Reporting Stage In September and October 2012, the research will be finalized by the presentation of our recommendations to the companies involved.
International Business Study Republic of Korea 2012
WHY ACADEMIC RESEARCH BY IBS?
IBS works on a non-profit basis. We provide high quality research at both the practical and the academic level. IBS gives you access to valuable and unique information clarified and processed by a new generation of business students with an illuminating perspective on conducting business. Objective View Unbiased research is guaranteed throughout the project, as IBS has no personal interests in any particular business or political area. Access to Information IBS has access to a vast number of information resources, including databases, experts and information provided by IBS contacts. In contrast to consultancy firms, IBS will visit the Republic of Korea to obtain unique information and local knowledge by conducting field research. Furthermore, IBS has the time, skills and resources to review the large amounts of information available. Professional Support The quality of the research done by the consultants will be guaranteed by academic feedback and the expertise provided by the staff of RSM Erasmus University. Two professors provide input in terms of knowledge, networking, and experience in the process and will check research for academic quality and content. The project is also supported by an extensive Board of Recommendation and a number of High Counselors. Accessible Price In comparison to professional consultants, IBS offers an excellent price-quality ratio. This is mainly due to the non-profit basis on which the project is conducted.
International Business Study Republic of Korea 2012
Hybris AG (IBS 2011 Brazil) "When I decided to engage the IBS Star team to do a research in Brazil, I was not sure of what exactly to expect. I had a very good impression, had very good feedback from the references provided, but was not sure about what results they would be able to show. Very quickly the team showed that they can deliver real business results, first by quickly identifying the main players relevant for my company and then by actively engaging them. The team was able not only to map the competitive landscape in Brazil, but also to get very precise information on what the market expects of a new entrant as well as to open many doors at potential partners, potential customers and industry influencers. I wholeheartedly recommend working with IBS Star." Mr. Daniel Couto, PMP, MBA Regional Manager South America / Director Consulting EMEA
International Business Study Republic of Korea 2012
THE PEOPLE BEHIND INTERNATIONAL BUSINESS STUDY 2012
International Business Study Republic of Korea 2012
BOARD OF RECOMMENDATION M.P. Bakker Former Chief Executive Officer TNT N.V.
J.M. Hessels Chairman - Supervisory Board Euronext NV
A.J. Scheepbouwer Chief Executive Office Royal KPN
R.F. van den Bergh Former Chairman & CEO VNU N.V.
P. Kalbfleisch Former Chairman Dutch Competition Authority (NMa)
J.B.L. Streppel Former Chief Financial Officer Aegon
B. Boutros-Ghali Former Secretary-General United Nations
W. de Kleuver Former Vice-President Royal Philips Electronics NV
C. Stutterheim Former Chief Executive Officer Logica CMG
J.F.M.L. van Boxmeer Chairman & CEO Heineken N.V.
J.A. de Kreij Former Chief Executive Officer C贸rio NV
A.J. Tijssen Managing Director Citigate First Financial
A. Burgmans Former Chairman & CEO Unilever Plc.
A.H. Land Former Chairman & CEO P&O Nedloyd NV
B.J. Verwaayen Former Chief Executive Officer British Telecom
R. Dahan Chairman - Supervisory Board Royal Ahold NV
F. Maljers Former Chairman & CEO Unilever Plc.
H. Wiegel Former Vice-Prime Minister The Netherlands
A.H.W. Docters van Leeuwen Former Chairman Authority Financial Markets (AFM)
K.E. van der Meijden Former Vice-President Hewlett Packard
HIGH COUNSELORS
P.A.F.W. Elverding Former Chairman & CEO DSM NV
J.A. Nijhuis Chief Executive Officer Schiphol Group
R. van Gelder Former Chief Executive Officer Heijmans NV
B.J. Noteboom Chief Executive Officer Randstad Holding NV
J.P. Balkenende Former Prime Minister of the Netherlands Professor at Erasmus School of Law and Erasmus School of Economics
H.J. Hazewinkel Former President & Chief Executive Officer VolkerWessels NV
A.H.G. Rinnooy Kan Chairman Social and Economic Council (SER)
Prof. Dr. H.G. Schmidt Rector magnificus Erasmus University Rotterdam
A. Aboutaleb Mayor of Rotterdam
Prof. Dr. S. van de Velde Dean RSM Erasmus University
International Business Study Republic of Korea 2012
Contact POSTAL ADDRESS STAR Study Association RSM Erasmus University Room T04-53 Postbox 1738 3000 DR Rotterdam VISITING ADDRESS Room T04-53 Burgemeester Oudlaan 50 3062 PA Rotterdam T +31 (0)10 408 20 37 F +31 (0)10 408 90 23 E ibs2012@rsmstar.nl W www.ibsresearch.nl
International Business Study T +31 (0)10 408 20 37 | ibs2012@rsmstar.nl | www.ibsresearch.nl Republic of Korea 2012