WELCOME Presenter: Gloria Taylor

LG TV/AUDIO/VIDEO Life’s Good

POLITICAL BACKGROUND LG (Life's Good)  South Korean government’s structure is determined by the Constitution of Republic of Korea.  South Korea is divided in to three branches: executive, judicial, and legislative.  South Korea’s president is Park Geun-Hye. South Korea’s President Park Geun-Hye

ECONOMIC BACKGROUND LG (Life's Good)  South Korea’s economy flourished after the Korean War in the 1950’s.  South Korean economy is currently more focused on consumer electronics, software and other information technology industries.  South Korea has the world’s 12 th largest economy.  South Korea has no oil, therefore, it’s one of the largest importers of oil in the world.  Korea is the US 2 nd largest trading partner.

ECONOMIC BACKGROUND CONTINUES LG (Life's Good) Quick Facts  Population: 50.0 million  GDP (PPP ): $1.6 trillion 2.0% growth in year compound annual growth 2.9% $32,272 per capita  Unemployment: 3.3%  Inflation (CPI): 2.2%  FDI Inflow: $9.9 billion  Public Debt: 33.7% of GDP Heritage.org 2012 data unless otherwise noted. Data compiled as of September 2013

SOCIAL BACKGROUND LG (Life's Good)  Most South Korea’s live in urban areas  Seoul is the country’s capital and largest city – 10.3 million inhabitants in  Other major cities include:  Busan (3.37 million), Incheon (2.62 million), Daegu (2.44 million), Daejoen (1.53 million) and Gwangiu (1.50 million)  Four million people from North Korea crossed the border to South Korea after World War II.  South Korea’s flourishing economy and improved political climate in the early and mid-1990s slowed the high emigration rates typical of previous years.

SOCIAL BACKGROUND CONTINUES LG (Life's Good)  As of April 2005, the total number of know foreign laborers in South Korea stood at 378,000; 52% were without authorization.  The foreign workforce is mostly from South Asian and Southeast Asian nations.  There are about 11,000 emigrants English teachers and around 31,000 US military personnel.

CULTURAL BACKGROUND LG (Life's Good)  Korean is the official language of South Korea.  Approximately 22 million of South Korean population express no religious beliefs, the remaining are Christian, Buddhist, and other or unknown religions.  The largest Christian church is located in Seoul with an estimated 780,000 members  South Korea is the second largest missionary sending nation on earth.

CULTURAL BACKGROUND CONTINUES LG (Life's Good)  South Korean Ministry of Culture and Technology encourages traditional arts, modem forms, through funding and education programs.  Korean forms of metal work, sculpture, painting, and ceramics flourished throughout the Korean peninsula.  South Korea’s has embraced the capitalist mindset.  Low Individualism within the Culture

LG (Life's Good)  South Korea has a strong education system and provides high level of technical training.  South Korean society is in general well- educated, hard working and reliable.  Students in South Korea receive highly technical education  South Korea is a world leader in IT including cell-phones and digital –TV technologies HUMAN RESOURCES/SKILLS

LG (Life's Good) RAILWAYS: TOTAL: 3,381 KM (2008). HIGHWAYS: TOTAL: 104,983 KM; PAVED: 83,199 KM (INCLUDING 3,779 KM OF EXPRESSWAYS); UNPAVED: 21,784 KM (2009 EST). WATERWAYS: 1,600 KM; USE RESTRICTED TO SMALL NATIVE CRAFT. PORTS AND HARBORS: INCHEON, POHANG, BUSAN, ULSAN, YEOSU. AIRPORTS: 111 (2013). TRANSPORTATION

LG (Life's Good) TELEPHONES: MAIN LINES IN USE: 30.1 MILLION (2012); MOBILE CELLULAR: MILLION (2012). BROADCAST MEDIA: MULTIPLE NATIONAL TV NETWORKS WITH 2 OF THE 3 LARGEST NETWORKS PUBLICLY OPERATED; THE LARGEST PRIVATELY-OWNED NETWORK, SEOUL BROADCASTING SERVICE (SBS), HAS TIES WITH OTHER COMMERCIAL TV NETWORKS; CABLE AND SATELLITE TV SUBSCRIPTION SERVICES AVAILABLE; PUBLICLY-OPERATED RADIO BROADCAST NETWORKS AND MANY PRIVATELY-OWNED RADIO BROADCASTING NETWORKS, EACH WITH MULTIPLE AFFILIATES, AND INDEPENDENT LOCAL STATIONS (2010). INTERNET SERVICE PROVIDERS (ISPS): 315,697 (2012). INTERNET USERS: 39.4 MILLION (2009). TELECOMMUNICATIONS

LG (Life's Good) SOUTH KOREA OFFERS SEVERAL DIFFERENT TYPES OF SERVICES TO CITIZENS AND FOREIGNERS  Savings Account  Time Deposit Account  Instalment Account  Lack Services, fees and Interest  International Credit Cards  The Korea Travel Card (KTC)  International Money Transfer BANKING INFRASTRUCTURE

LG (Life's Good) CURRENT LEVEL OF TRADE WITH USA Top Import PartnersTop Export Partners China15.60%China24.50% Japan12.40%USA10.70% USA8.30%Japan7.10% Saudi Arabia7.60%Hong Kong6% Qatar4.90%Singapore4.20% Australia4.40% The table for export and import trade partners of South Korea, from the CIA World Factbook

LG (Life's Good) CURRENCY AND TRADE EXCHANGE Source: US Census Bureau US-South Korea Trade ImportsExportsTotal ,38641,714104, ,90142,265101, ,66143,461100,122

LG (Life's Good) INDUSTRY AND PRODUCTION CAPACITY utilization.png?s=southkorecaputi

LG (Life's Good)  Exports $552.6 billion (2012 est.)  Exports -partners China 24.4%, US 10.1%, Japan 7.1% (2011 est.)  Imports $514.2 billion (2012 est.)  Imports - partners China 16.5%, Japan 13.0%, US 8.5%, Saudi Arabia 7.1%, Australia 5% (2011 est.) EXPORT SALES VOLUME/VALUE PRODUCT/IMPORTERS Source: The CIA World Factbook (

CURRENT TRADE POLICY LG (Life's Good) FREE TRADE POLICY Free trade allows for a greater degree of economic efficiency, such that the country with the comparative advantage in a given product can produce that good for export to the other country.

ETHICS & RISK FACTORS LG (Life's Good) South Korea has no known ethical risk factors  No Child Labor  No Excessive Work Hours  Production done by Robots

BENEFITS OF DOING BUSINESS WITH SOUTH KOREA LG (Life's Good)  Strong export Infrastructure  Existing relationship with the US  Leaders in electronics products  Samsung electronics - largest technology firm – revenues $120 billion  Free Trade Agreement with the US

THANK YOU FOR YOUR TIME AND LOOK FORWARD TO CONTINUOUS GROWTH WITH THE US LG (Life's Good)

REFERENCES LG (Life's Good) Bio Park Geun-hye Biography. Retrieved November 21, 2014 from CIA World Factbook. (2014). South Korea. Central Intelligence Agency. Retrieved November 9, 2014 from factbook/geos/ks.html CountryStudies. (2014). Money and banking. Country Studies. Retrieved November 9, 2014 from korea/54.htm Export.gov (2014). Tariff tool home. Export.gov. Retrieved November 9, 2014 from pe=Import&Partner=1

REFERENCES CONTINUES LG (Life's Good) FactMonster (n.d) Retrieved on November 9, 2014 from Heritage (n.d.) Retrieved on November 9, from Hofstede. (2014). South Korea. Geert Hofstede. Retrieved November 9, 2014 from Murillo, D & Sung, Y. (2013). Understanding Korean capitalism: Chaebols and their corporate governance. ESADE. Retrieved November 9, 2014 from %20Chaebols_Murillo_Sung_EN.pdf Oanda. (2014). USD-KRW historical rates. Oanda.com. Retrieved November 9, 2014 from

REFERENCES CONTINUES LG (Life's Good) Trading Economics (2014). South Korea capacity utilization. Trading Economics. Retrieved November 9, 2014 from Transparency International (2014). Corruption Perceptions Index Transparency International. Retrieved November 9, 2014 from US Census Bureau (2014). Foreign trade schedule B. US Census Bureau. Retrieved November 9, 2014 from US Census Bureau (2014). Trade in goods with South Korea. US Census Bureau. Retrieved November 9, 2014 from trade/balance/c5800.html