Procedures that you need to follow when exporting After establishing that South Korea is an economy with an increasingly more liberal economy, there are some problems for foreign direct investment, mainly through non-transparency and burdensome regulations (Heritage Foundation). In order to take it a step further and to perform a complete analysis of the business environment, it is necessary to compare the business procedures when doing business. As an industry, the imports of foreign goods procedure will be analyzed and contrasted with neighboring countries in order to have a complete snapshot of the business environment. Firstly, The country of interest: South Korea. In what the import of foreign goods is concerned, South Korea has a relatively quick and easy process. Importing procedures are estimated to take 7 days, (2 days for each: preparation of documents, port handling and inland handling and approximately 1 day for customs clearance). The cost of the procedures for the 7 days is estimated to be $790 (World Bank Doing Business, 2011). This information, at first glance seems positive. The procedures are fairly quick and the $790 cost is not an absurd amount of money paid in order to import goods. The bureaucracy is simple. The documents needed are: the bill of lading, customs import declaration and terminal handling receipts (World Bank Doing Business, 2011). Corruption Perception Index The latest corruption perception index by transparency international in 2008 includes five sets of data. These include: the 2008 Corruption Perception Index (CPI) score, the amount of surveys used, the standard deviation, the high low range and the confidence range. Before the analysis of the data, it is important to understand what ea... ... middle of paper ... ...). The Heritage Foundation has ranked South Korea with a very low score of 55 out of 100, which might imply that corruption is widespread and there is still a long way to go to have a positive rating. (Heritage Foundation, 2011) 10) Labor Freedom Labor freedom has the lowest score of 46.5 out of 100. This shows that there are various problems regarding labor, a clear example is the very high cost of firing an employee whilst the non salary cost of employing a worker are moderate (Heritage, 2011). In conclusion, the overall freedom of the country is relatively positive. The ratings of the Heritage Foundation are fairly high, above the world average for the most part. Additionally, the government involvement in business is quite low compared to other countries and at least it is not widespread to a degree to which investors would be fearful to engage in business.
Corruption is defined as the dishonest conduct one performs for illegitimate private gain (Paskal). To determine where corruption
Corruption consists in the illegitimate agreement between a corruptor and a corrupted, in which they abuse of their public power in order to obtain personal benefit. Bribery and corruption is something that has been going on for years. According to Allen, “officials perceive themselves as immune to any penalties for demanding and receiving bribes” which she states that it is one of the main reasons for bribery and corruption in underdeveloped countries. According to Transparency International, an organization committed exclusively to end corruption, three of the most corrupt countries in the world are Somalia, North Korea and Afghanistan. This does not mean that corruption is only seen in underdeveloped countries. In international business, corporate employees often find themselves dealing with corruptors in foreign countries and, in most cases, they will give in.
Chetwynd, Eric, Frances Chetwynd, and Bertram Spector. "Corruption and Poverty: A Review of Recent Literature." Management Systems International (2003): n. pag. Print.
Corruption is commonly defined as “being dishonest or illegal behavior, especially by powerful people (such as government officials or police officers)” according to Merriam-Webster.com. However, although defined, corruption cannot be measured. Without measurement of this ten letter word, it becomes troubling within jurisdiction’s law abiding citizens live in. As a result, hysteria, panic and doubts arise which are only a few out many reactions the public makes. With the press only stirring greater chaos, corruption is never completely solved, which is why it must be confronted and measured before it’s too late. If not it’ll only continue to linger throughout media headlines and forums, but also the society, it conclusively affected and left a mark on for example, Pageland, SC.
Soh, C. S. (2001). South Korea. In C. R. Ember & M. Ember (Eds.), Countries and Their Cultures (
South Korea has a strong $1-trillion economy; it is the third largest market in Asia, behind Japan and China. It also has the 13th largest economy in the world. It is expected that the economy’s current upward trajectory will continue for some time to come. This makes South Korea an attractive market for foreign investment, especially as the world economy, as a whole, continues to improve.
From Korean Pop stars to dramas, South Korea has it going on. It seems that there is not one Asian country that has not had the Korean Wave, a Chinese term given to South Korea referring to the exportation of their culture, completely wash over it. What started as an Asian sensation, the Korean Wave is now beginning to spread globally, ranking South Korea as one of the top countries known for its exportation of culture. Between music, television, and video games, South Korea’s economy is rapidly increasing as the world continues to fall in love with its entertainment industry.
During the 1990s, Japan has been exposed to one of the most difficult structural transition periods in its post-war history, in terms of social and economic conditions. There have been two major changes: one is a substantial decline in economic growth in real terms, and the other is a changing social structure characterized by the declining birth rate and the ageing population. Under the pressure of changes in the economic environment caused by globalization and innovations in information technology, Japanese business corporations are forced to adapt to the new situation. While companies faced with fierce international competition, it became more critical to understand the basic knowledge of complicated legal, cultural, economic, and social issues. Engaging in international trade also requires attention to international regulations, international business planning, international market research, funding, distribution and other areas that must be considered separately from domestic business issues. The paper suggests some of the basic tools that can apply to solve the problem or to bring the business opportunity to fruition in today's Japanese business environment
South Korea is a country that has rapidly developed. But the country also experienced military dictatorship in the 1980s
The Indian Express. India ranked 94th in Corruption Perception Index ratings says Transparency International. The Indian Express. December 5 2012. Web. Available at: http://archive.indianexpress.com/news/india-ranked-94th-in-corruption-perception-index-ratings-says-transparency-international/1040857/
Since it lacks of natural resources, Singapore needs to import mainly its sources from Malaysia especially fresh water. Malaysia also is the second largest export market after Hong Kong (11.6%). Other major trade partners are United States, Indonesia, China, and Japan. The major exports are machinery and equipment (including electronics and transport), consumer goods, chemicals, telecommunication apparatus, pharmaceuticals, and mineral fuels. With the activeness of the government in negotiating the eight free tra...
Some people said that corruption is rampant in all governments, So that it is not unknown to any ethnic group, region and continent. It cuts across faiths, political systems, religious Denominations and affects both young and old people. Fraud can be found in public and authoritarian rule;...
Kearney, A.T. (2001). Corruption and the Globalization Index. Last access on 27 March 2005 at URL: http://www.globalcorruptionreport.org/download/gcr2001/data_and_research.pdf NAIM, Mois´s (1995). Corruption Eruption. Last accessed on 2 April 2005 at URL: http://www.carnegieendowment.org/publications/index.cfm?fa=view&id=648 MORAN, Robert T. and RIESENBERGER, John R. (1994)
In 2012,Transparency International’s Corruption Perceptions Index ranked India 94th out 176 countries. "It is not about petty bribes (bakshish) any more, but scams to the tune of billions of rupees that highlight a political/industry nexus which, if not checked, could have a far reaching impact”(KMPG,2012).Corruption poses a risk to India’s GDP growth and continual level of Corruption will lead to a volatile political and economic environment.Almost half of India’s economy runs in the informal or black market sector, ‘shadow economies’ permeate the lives of every citizen.What seems on the surface as broken,dysfunctional system,operates smoothly with ease for those with money and power.Whereas,for an Average citizen, access is limited and a reminder of a failed democracy.In this essay I will be looking more deeply into the issues of Corruption and how it has impacted the Indian economy.
Montesh, M. (n.d.). Conceptualizing Corruption: Forms, Causes, Types and Consequences. Retrieved May 4, 2014, from