PEST Analysis: The Pest Analysis Of South Korea
South Korea is one of the countries that have great success stories that was surprise most of people. In before year 1950s and early 1960, South Korea is a one of the country that involve as a poorest worlds in the world after World War II. “Most of people do not believe that this country survive as a poorest with only has $64 per capita income.” Mark Tran, (2011). South Korea was make a transformation from agricultural country being industrial country where can producing and manufacturing their own brands name and most of the country in this world is allowed this country product to market in the other country. Malaysia and South Korea is in the same level of economic down after the World War II, but the spirit to out of from …show more content…
PEST is a part of the strategic analysis where this is include the process of conducting research and analysis the business environment and the operations of the organization as to measure the potential market of company. PEST analysis being conducted to South Korea as to measure their key successful factors that include in each of this element.
South Korean political development For the first element is political development of South Korea. As we know the government regulation which are includes of employment laws, environmental regulations and tax policy. The government is a major influence on tax policies or trading agreements. and law is part of one of the country being successful, as well South Korea has a good government structure of regulation and law was make them is one of model for other country. “South Korea has a stability government with has a sustainable democracy and a healthy infrastructure. (AMB Country Risk Report, 2014). Based from the report, it was show the South Korea is in low level of political risk and this was giving effect toward the development of the country increasing from year to …show more content…
Export is the main factor for South Korea economic in growing fast. The government really supported the countries to exporting a lot product at outside as a way to expand their market into global. Export from the multinational chaebol has been drive the Korean economic. There are four of largest chaebol in Korea which are involve Samsung, LG, Hyundai and Steel Company. The Korean economy is heavily in monopoly in manufacturing industry.
South Korean social development
The third element is social development in South Korea, which this also an important role plays in successful. The social factor involves” a wide range of language, culture, education, ethnic, races, currencies, taxes, user habits, etc. Social factor was much helps the South Korea out from the problem before. The factor was support the social developments in South Korea are:
• Culture is refers to the language, food, region and much. For South Korea culture, most of traditional Korea was borrowed much from China’s culture. The China’s culture including the use of Chinese character in the written language. It was show the most of culture at South Korea is influence spread from China. Japan and Russia also the main rival for influence on the Korea culture since this country is