• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.6
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• pp.3769-3777
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• 2015

Overseas Expansion is essential to expand domestic geospatial industries in a state of saturation. But current overseas expansion method has be limited to expand global market. Inter-industries convergence strategies may be most resonable alternative to expand global market through raising expansion possibility to developing countries with ODA funds and to developed countries with converging global competitive industries. This research analyzed the industry to develop a suitable way fusion between these industries. As a result, easiness of convergence, confidentiality of information, complementarity of poor infrastructure, responsiveness of various demands and sustainability of system are needed to successful convergence on multiple industries. This convergence framework is consists of geospatial convergence common framework based on cloud computing, inter-industries convergence model and institutional supporting system for overseas expansion.

• Journal of the Korean housing association
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• v.26 no.5
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• pp.71-78
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• 2015

Currently, the Korean construction industry is shifting its interest to the overseas construction market because of a stagnating domestic market. In the meantime, the international housing construction market is expanding with respect to new city development projects that are supported by population growth and urban migration. Despite the Korean construction industry's expertise in new city development, technology, and systems for apartment supply, the share of Korean players in the international housing construction market is continuously decreasing. As a measure to overcome this situation, the authors of this study considered the paper "The Development of a Cost Effective, Long-life Housing Model and Construction of Testbed," which is currently in progress as a part of national project. Through literature review and interviews with experts, the authors determined that there are "column+minimum interior (infill)" apartments that are similar to the long-life housing in some areas of China, Southeast Asia, and Russia. Candidate countries expected to be feasible for the entry of long-life housing were selected by determining the top countries that have already entered the long-life housing market and analyzing those selections through additional specific techniques. The external environments of the selected countries were also analyzed. Please refer to the full paper for details.

• Journal of Distribution Science
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• v.11 no.12
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• pp.25-37
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• 2013

Purpose - The structure of retailing has changed as retailers develop markets in response to business environment changes. This study aims to analyze the general situation of retailers in order to predict future global strategy using case studies of overseas expansion strategy and the Metro Group's global strategy. Research design, data, and methodology - The backgrounds to the new retail business model and retailer classification are analyzed as theoretical data. In addition, the key success point of the Metro Group's "cash and carry" strategy is analyzed as is the Metro Group's global CFAR (collaborative planning, forecasting, and replenishment) strategy. Finally, the plan for cooperation and precise forecasting under the Metro Group's supply chain management are analyzed from the promotion environment viewpoint. Related materials analyzed included the 2012 annual report, the Metro Group's web page, and a video interview with the executive in charge of global strategy and the new market development department. Some data were revised to avoid disrupting essential aspects of the case studies. Results - The important finding was that the Metro Group could be a world-class retail company with its successful global expansion strategy. The Metro Group's global strategy's primary goal is to have a leading business position in Eastern and Western Europe. The "cash and carry" strategy is highest priority in its overseas expansion strategy. Moreover, the Metro Group has standardized product planning capacity, which could be applied in various countries with different structural and cultural backgrounds. This is the main reason that the Metro Group could rapidly become successful in the Eastern Europe and Asian markets through its structural overseas expansion strategies. In addition, the Metro Group emphasizes the importance of supply chain management. Conclusions - First, retailers should create additional value through utilizing the domestic market, market power, and economies of scale to launch a global strategy to maximize benefits from diversification. Second, the political, economic, and cultural background of the target country needs to be understood to successfully implement the overseas expansion strategy. Third, the main factor of successful cooperation with a local partner is how quickly the company gains total understanding of the business resources and core competence of its partner. All organizations should focus on the achievement of goals in order to successfully operate the partnership. Fourth, retailers should improve their business, financial and organizational structure. Moreover, the work processes and company culture should also be improved to respond strongly in the competitive global market. Fifth, the essential point of a successful retail business is the control capacity of its branding and format. The retailer could avoid forecasting errors through supply chain management by perfectly distributing the actual amount of its inventory. In addition, the risks along the supply chain are effectively shared between the supply chain partners. Finally, the central tendency of the market is to gain in strength with this taking place across all parts of the business.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.8
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• pp.215-225
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• 2016

This study seeks to find an alternative to the requirement for proving the competitiveness of Korean performing arts before entering into the overseas market by deriving the factors causing entry into the market to be delayed based on an analysis of the current status. Between 2007 to 2014, the overseas revenues from Korean performing arts increased by 16.4% compared to the total amount of financial support, as the number of free performances given overseas and the average guaranteed number of performances overseas are both at a standstill. Also, the size of the audience increased by a mere 3.3 times, which is an even lower growth rate than that for the number of performances, 3.8 times, during the same period. Furthermore, the audience size per unit is suffering from long-term stagnation. The main causes are as follows: 1) applying one-dimensional methods to performing arts exchanges and expanding the overseas market, 2) the existing confused concepts between profit and non-profit contents, 3) the weaknesses of the market expansion strategy, because of programming practices focusing on providers, such as presenters and producers, rather than consumers. As a result, the necessary basic research, including consumer surveys, has not been done yet. In order to understand the implications of this analysis and solve the problem of the delayed overseas expansion of Korean performing arts, the Korean wave industry was examined as a representative example. Consumer surveys for the performing arts, possibly benchmarked to the "Korean Wave Consumer Survey Index (KWCSI)", are expected to be done in the near future. In addition, through the development of a specific consumer index of the performing arts, customized marketing strategies by continent and country need to be established. This empirical study of the overseas expansion of performing arts can be utilized as a bridge between the academic and real worlds. This work may also enable a variety of strategies to be established for the overseas expansion of the performing arts.

• Journal of the Korea Convergence Society
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• v.11 no.1
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• pp.279-284
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• 2020

Advances in technology are bringing a lot of change.. Due to Korea's economic growth, domestic companies are expanding overseas unlike in the past.. Recently, many small and medium-sized companies, in addition to large companies, are making inroads in Southeast Asian markets thanks to the Korean Wave. This study used the international academic database scopus to identify trends in the company's overseas expansion strategy. A search was conducted under the title of the word overseas advancement strategy, which secured a total of 153 papers. Abstracts of the research paper were refined for analysis and then analyzed using KoNLP package. As a result, 10 important keywords were derived. The purpose of this study is to identify the research trends of companies in overseas market through these results. This study provides a guideline for future research on overseas expansion strategies.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.742-743
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• 2015

Korean construction industry has developed with national economy growth for a couple of decades. However, because of slump of real estate, the domestic construction industry was intimidated. In this situation, many construction company has no choice but to go abroad to find construction projects. However, almost small or medium-sized construction companies are very hard to operate their business because they have small funding ability and weak labor power. Therefore, this study aims to propose an assessment tool through analyzing risk factors of overseas construction projects for small or medium-sized companies by examining preceding research and interviewing industry experts. Weights of the risk factors are determined through the surveys of the industry practitioners. All of the data is configured into the assessment tool and this converts the quantitative information which leads to the optimal of strategies choice. This paper provides a quantitative measurement of possible performance and detailed assessment of each itemized risk factors. This assessment tool is qualified for industry experts so that it can safely be applied to the future projects. Ultimately, many small or medium sized construction companies will benefit from the tool proposed in this study to examine the potential of the overseas market expansion.

• Journal of the Korea Convergence Society
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• v.6 no.5
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• pp.55-61
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• 2015

This study is related with globalization development plans of the convergence systems and policies for domestic fire industry. The current issues are analysed from the condition of the policy enforcement of fire industry promotion and analysis results of the fire industry's environment. Consequently, advanced plans of promotion law and overseas expansion plans for fire industry is proposed, Especially, overseas expansion plans include technology policy strategies and activate plans of overseas expansion support for fire industry. Plans of overseas expansion support for fire industry are discussed in terms of three detailed plans including with diversification of foreign exhibitions support of fire industry, dispatch expansion of overseas market pioneer and expansion of the asian emerging markets. Especially, plans of expansion of the asian emerging markets will lead the strategic performances including with establishment of superiority in domestic fire system, provision of infrastructure abroad in domestic fire industry and of Induction of establishment in domestic fire inspection systems.

• Journal of Distribution Science
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• v.18 no.5
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• pp.71-81
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• 2020

Purpose: This case study illustrates the successful entry of Saudi Aramco in the Korean market and how it grows to become one of the world's largest integrated energy enterprises. Research design, data and methodology: This case investigates diverse secondary sources to examine the entry strategy of Aramco in Korea, such as several interviews including public and anonymous dialogues, periodicals, dispatches (i.e. news articles and magazines), annual reports, industrial reports, and others. Results: The main concern for the international strategic approaching of Saudi Aramco is to enter into Korean market by joint venture with SsangYong Oil (today's S-Oil Corporation) in 1991 and finally, ending by Acquisition of S-Oil in 2015. This acquisition of local No.3 company, S-Oil, in Korea is the successful case in Asian Markets overcoming liability of foreignness. Moreover, Saudi Aramco's global distribution strategy through localization in the Korean market is appropriate given the market conditions, timing, effectiveness, and efficiency by sharing their resources and collaborating. Conclusions: It would be valuable, unique, and real story to analyze global leading company's entry and globalization strategy in overseas market. In addition, this study provides decision-makers with a significant and more strategic implication for the overseas expansion of businesses.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.13 no.3
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• pp.153-165
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• 2018

There must be a balanced development of both conglomerates and small and mid-sized companies in order to secure constant economic growth and competitive edge of South Korea. Accordingly, high expectations are being placed on win-win growth and joint overseas expansion of conglomerates and small and mid-sized companies. This study seeks efficient ways to promote joint overseas expansion of major retailers and small and mid-sized companies considering the distinctiveness of home shopping by conducting interviews about joint overseas expansion of home shopping companies and small and mid-sized consumer goods companies in South Korea. To do this, interviews were conducted with three home shopping companies and three consumer goods SMEs operating in overseas markets. The results are as follows. Home shopping companies contribute to opening up overseas markets for small and mid-sized consumer goods companies, and allows them to make use of business and marketing competencies that they lack. Home shopping companies also produce visual materials or provide language translations, and help draw up documents for customs clearance in trading. They also form market development teams and provide information about the overseas markets. However, since the actual benefits from joint overseas expansion are minor for home shopping companies, there is a need for a strategy for win-win growth of both parties in the long run. To this end, it is necessary to provide substantial benefits to encourage joint overseas expansion. Ultimately, balanced development between home shopping companies and small- and medium-sized consumer goods companies should be promoted.

• Korean Journal of Construction Engineering and Management
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• v.15 no.5
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• pp.22-30
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• 2014

This study undertakes a comparative analysis of the correlation between the condition of the domestic construction market and the expansion of overseas projects within construction companies, based on the vector error correction model. The analysis results verified that, in the post-IMF crisis period, domestic construction companies took on more overseas projects only when the residential construction market slowed down. Compared to the pre-crisis period, construction companies grew more responsive to the condition of the domestic market for residential construction, and they took on more overseas construction projects when the domestic market slumped. This is because the business portfolios of Korean construction companies' render them highly vulnerable to the condition of the residential construction market. When the domestic residential market slows down, the business condition of construction companies quickly takes a turn for the worse, and to cope with this, they turn to overseas projects to compensate for the slowing of the domestic market. As the analysis shows, expanding overseas construction projects as a way to turn around business condition amid a slow residential construction market actually undermines the management of the companies even further. In other words, shifting business focus toward an overseas market during a hard time might be useful for securing cash flow, but might not help to restore profitability. Thus, construction companies need to carefully manage their level of business diversification to ensure strategic flexibility.