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Population:
– 48,508,972
Capital:
– Seoul
Administrative Divisions:
– 9 provinces and 7 metropolitan
cities
Korean, but English
is widely taught in
Jr. High and High
School
most often called
Hangungmal
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Location:
–
Southern half of the Korean Peninsula
bordering the Sea of Japan and the Yellow
Sea
Climate:
– Temperate, with rainfall heavier in
summer than winter
Terrain:
– Mostly hills and mountains, wide coastal
plains in west and south
Natural Resources:
– Coal, tungsten, graphite, molybdenum,
lead, hydropower potential
Natural Hazards:
– occasional typhoons bring high winds and
floods; low-level seismic activity common
in southwest
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Christianity: 49%,
Buddhism: 47%
Confucianism: 3%
Pervasive folk
religion
(shamanism)
Chondogyo
(Religion of the
Heavenly Way), and
other: 1%
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Although South Korea has developed into
a modern and diverse country, they still
keep their culture sacred
Important in everyday lifestyle:
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Family
Food
Tradition
Respect
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Korean’s enjoy advanced technology and pride
themselves on new products including cell
phones, cameras, and MP3 players
The traditional Korean house is called a “Hanok”
The Korea Times and Korean Herald are
published daily in English
Health conscious society, promote exercise and
fresh produce
More leisure time leads to a more casual
lifestyle
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Korean magazines are devoted to promoting
luxury images/ ads
Constant need to show new and original fashion
and technology
Competitive with other Asian countries to have
advanced products
Brand name sensitive
Will pay in installments in order to afford higher
quality and higher priced goods
Basic needs such as food, water, and shelter are
not as recognized as luxury products
Prefer quality and personal experiences with
retailers
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Percentage of South Korea that uses the
internet at least monthly to find out about
luxury products online: 65%(2009)
“SNU says BIG, CASH, COW. These ten letters
are the key words to make consumption trend in
Korea 2009.Customers have consumption that
express ego and follow existence within the
feeling of uneasiness of economic depression.
This is the point of Consumption Trends 2009.”
(SNU Domestic Science Institute Consumption
Trend Analysis Center)
“Shinsegae Distribution Industry Institute
reports "2009 Retail Forecast."They nominate
the 4S such as Shopping Center, Small Format,
Save Household and Supporting Home-made.”
(http://florkim.blogspot.com/2008/12/luxurybrands-in-korean-market-include.html)
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South Korean fashion is gaining respect in American markets
American franchises are establishing in South Korea
Koreans more health conscious than Americans
American’s more responsive to the recession
Korean customs stay prominent in the household, traditional
families are still the most common as compared to
progressive American households
Seoul is becoming a major US business location
Both use the internet as a means of communication,
consumption, and information more frequently than ever
Youth is influenced by different cultures and adapt ideas into
their communities
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Gaining respect in American and European markets
American consumer’s more open to Korean designers
Building a fan base by showing in New York Fashion
Week
Adapting Asian influences into western styles
Designers making waves in American fashion:
–
Doo-ri Chung
–
Richard Chai
–
Im Sang-A
–
Kang Jin-young & Yoon Han-hee
References
References
Aran, Han. (2009). “Korean Designers Making Their Mark in NYC”. Retrieved from
http://www.korea.net/News/News/NewsView.asp?serial_no=20090227004
Bernoff, Josh. (2009). “In Japan and Korea, Consumers Embrace Social Technology Faster than
Marketers” Retrieved from http://blogs.forrester.com/groundswell/2009/09/in-japan-and-koreasocial-technology-takes-faster-with-consumers-than-marketers.html
Edimax USA Publications. (2004). Retrieved from
http://www.entrepreneur.com/tradejournals/article/114113356.html
Fall, Nicole.(2008). “New Era of Controlled Luxury to Emerge” Retrieved from
http://www.koreatimes.co.kr/www/news/art/2009/09/199_36579.html
Greenburg, Peter. (2007). “Off the Brochure Travel Guide: Seoul, South Korea”. Retrieved from
http://www.petergreenberg.com/2008/12/11/off-the-brochure-travel-guide-seoul-south-korea/
Jeong-ju, Na. (2009). “Interview with the Chairman of Korea’s National Branding Council” Retrieved
form http://www.nation-branding.info/2009/01/28/interview-korea-nation-branding-council/
Kanellos, Michael. (2004). “Consumers: Gaming Their Way to Growth”. Retrieved from
http://news.cnet.com/Consumers-Gaming-their-way-to-growth---Part-3-of-South-Koreas-DigitalDynasty/2009-1040_3-5239555.html
“Korea, South” (2008). Retrieved from https://www.cia.gov/library/publications/the-worldfactbook/geos/ks.html
“Luxury Brands in Korean Markets”.(2009). Retrieved from
http://florkim.blogspot.com/2008/12/luxury-brands-in-korean-market-include.html
Solbridge International School of Business. (n.d.) Retrieved from
http://www.solbridge.ac.kr/index.php/jobs/everyday-life-in-korea
“South Korea” (n.d.) Retrieved from http://atheism.about.com/library/world/KZ/bl_SKoreaIndex.htm