Thus, stabilising influence to the extent of welfare benefits. Second, tourism has significant backward linkage, meaning that an increase in the tourism expansion has great potential to expand output which correlated to the tourism industry. (Rupa, 2009, p. 128-129). Tourism is an important economic activity in Singapore. The Singapore’s government is thus must give an obligation to its tourism in order to facilitate development, international tourism and a sustainable economic growth.
The U.S. entertainment has been popular around the world globalizing U.S. pop culture and the U.S. entrainment business economy. This globalization is a result of new innovations, that the U.S. itself developed, that allows film, music, and television, to spread worldwide. Because the U.S. is generally first to have such innovations the entertainment is commonly considered better quality thus appealing to the masses of people. Other factors that lead to the huge success of its entertainment business include their methods of distribution, which is through large and powerful foreign companies, and their large English-speaking market potential. High market ability and general international appeal of the U.S. entertainment business has put the U.S. in a “Golden ... ... middle of paper ... ... America's Cultural Role in the World Today.
Because of that, country will always wants to increase the number of imports. The results of the study found that the developing countries are able to import in the high levels, because it has a high export earnings. Country such as Kenya, Korea, South Africa, and Singapore are the example for that. Based on that, it can be said that the exports and imports also have a relationship and they are complement to each other. Rubio et al (1998) in his research titled Foreign Direct Investment and Regional grwoth: an Analysis of the Spanish Case stated that FDI (Foreign Direct Investment) acts as a vehicle for technology transfer, because of that FDI is highly correlated with the the growth of a country.
Gangnam Style originated in Korea and became one of the most popular and catchy songs of its time as a result of the Power of Context. Cha Woo-Jin, a South Korean music critic, reported that the sophisticated rendering and arrangement of “Gangnam Style” has made it very appealing to the general public. Furthermore, Choe Kwang-Shik, the South Korean Minister of Culture, told reporters that it had played an important role in introducing the Korean culture, language, and lifestyle to the rest of the world. In other words, it broke with our cultural conventions. These select contributors have made the song what it is today.
With Korean dramas and celebrities entering the global market, entire South Korean popular culture was introduced to the world, especially East Asia. K-pop soon emerged as “successful South Korean export product”
He claim that Koreans appreciated and study Japanese and western media content in order to produce their own media texts. He believed that the ability of South Korea to translate western ideas to very identifiable Asian content is the reason why they manage to penetrate the Asian market. Even the Philippines already rode the Korean wave, and as the years pass Korean dramas are not the only Korean media content who dominates Western countries and Asia, also the Korean popular music had slowly made way to mainstream media and a lot of Filipino teenagers became fan of Korea's new music industry. (Ryoo, 2012) In terms of the Effects of Korean media content on the fans, Alanzalon was also able to argue that the respondent's daily schedule was consisted of listening to Korean music and watching Korean videos on their laptop and computers. Again, the same was also discovered by (Dimatanday, 2013)stating that there is no doubt that kpop fever is all over the Philippines, with its consistent sales of Kpop albums and concert tickets.
Formal institutions such as governments and world councils establish rules of the game in an effort to create stability. This analysis will evaluate the U.S. economic institution in relation to the rest of the world and compare its growth with another growing country, South Korea. The analysis will highlight important trade partners o... ... middle of paper ... ...eir social and economic development. Both the U.S. and South Korea represents success stories of countries that leveraged economic integration to accelerate its GDP growth rate. This has kept cost down, allowed for utilization of surplus products and foster more peaceful relationships with trading partners.
When you browse the web and enter keywords like kimchi, Kpop, Korean cosmetics and pop idols, I bet you will get an influx of results. Amazingly, the widespread influence of Korean culture has become so broad that it did not only imperialize its neighboring countries but has conquered almost if not all Asian Countries. This phenomena is indeed special considering that Korea is no longer a much of an economic tycoon or that of a military power and it will expand to a further influence. The dispersion of Korean music wave has influenced the fashion trends of many countries in the Asian region. Hallyu or Korean music wave is known to be diversed and introduced throughout the Asian region especially to the east Asian region.
South Korea is also a part of APEC showing it has embrace trading with nations across the world. Over the years it has inc... ... middle of paper ... ...re movement but recent years have improved by introducing Korean Pop and Korean traditions spanning from across Asia to the United States. Since being influenced by their recent history allowed them to embrace their nationality. This created a sense of unity to having a voice in their nation. Globalization has caused them to embrace the recent changes in their area especially in music.
Marketing approaches and justification There are several marketing approaches available for doing international marketing, but for Fonterra’s expansion in South Korea, foreign direct investment is favourable because of the country’s facilities and future expansion. In South Korea, many organizations enter because of the facilities being offered by the government and the market is quite big and people have high levels of income. It’s easier for Fonterra to establish the factory over there and go for huge mark... ... middle of paper ... ...esearch suggests that Foreign Direct Investment in South Korea will be a great opportunity for Fonterra because of the facilities, technical advancements and the vast market environment that the selected country has to offer. 7. Conclusion Based on the above analysis with the use of various tools, it is then concluded that Foreign Direct Investment marketing approach is the easiest way to enter in country.