Education In Korea Essay
I. Cultural Analysis
This research paper will be an in-depth analysis of South Korea and understanding effect on market. The paper will cover descriptions of the country and the financial conditions which are relevant for conducting this research. Concluding the paper we will have a recommendation as to whether or not it will be advisable for a Medical Products, Inc. to engage in South Korean Market.
Medical Products, Inc. (MPI) is a U.S. firm founded in 1998 by a small group of medical and scientific research professionals. The firm is unusual in that its product line is aimed at two specific but unrelated markets: prenatal and postnatal care and geriatric medicine. The firm is now trying to export the company’s product, specifically LactAbound, which is a diet supplement for the prenatal market that helps mothers produce healthier milk, to South Korea.
II. Brief discussion of the country’s relevant history
History of Korea
During the 10th century B.C., the first Korean dynasty was formed. It was called the Gojosun dynasty and was located in the northern part of the Korean peninsula. After this dynasty, the 3 Kingdoms followed. This was called the Goguryo-Baikje-Shinra, or the Three Nations Era and this lasted for 4-6 centuries. Unification of the Korean peninsula was the next major event and this happened during AD 668 to 936. Shinra, Koryo (the root of the present name "Korea") and Chosun were the kingdoms…