Essay About Cultural Values And Foreign Institutions

Market Expansion of Global Cellular
Essay Preview: Market Expansion of Global Cellular
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Prepared for
Diane Russo, CEO
Columbia, South Carolina
Prepared By
Research Consultants
Columbia, South Carolina Research Consultants
April 11, 1999
TABLE OF CONTENTS
EXECUTIVE SUMMARY
Korean cultures are very different from American Cultures. The cultural values, social customs, housing, clothing, food, class structure, religion, government, and economic institution of Korea are very different from America. There are two major types of business institutions in Korea. The first one is Korean based institutions, which operates accordingly to common Korean rules and regulations. The second is the foreign institutions. The foreign companies that expanded to Korea operate differently from Korean based institutions. The foreign companies combine the rules and regulations of the mother country with the rules and regulations of Korea3. The success of foreign companies depends on its ability to adapt to the complicated culture of Korea. The cultural values and social customs play an important role in business