Thoughts on Korean Business by Don Southerton

I'm watching Korea's car makers. They are a strong indicator of global demand's impact on the Korean economy, since Korea is a top 5 global auto export nation. I see Hyundai and Kia remaining strong and positioning for quick recover, not so with the other Korean car makers. This Korea Herald gives some details.... [INDUSTRY FOCUS] Korean car makers face hard times, but U.S.-style crash remains unlikely Before the current economic crisis began, the local automotive industry had high hopes for this year. In February, the Korea Automobile Manufacturers Association projected that Korea's automobile production will rise 2.8 percent from 2007 to come in at 4.2 million units. For domestic sales, the KAMA had forecast a growth rate of 6.6 percent and an increase rate of 1.9 percent for exports. Although KAMA's projection overshot the actual growth rate, domestic automobile sales did rise during the first seven months of the year. It wasn't until August the effects of th...

Readers of the Blog and my work know I follow the Korean car industry. Lately this has merged with my interest in Green--also a hot topic in Korea. I'm happy to see Korea's Green technology launching globally. This press release reflects this well. Hyundai's First U.S. Hybrid System Uses Breakthrough Lithium Polymer Batteries and Leapfrogs Existing Nickel-Metal Hydride and Lithium-Ion Technology Hyundai Motor America announced today the launch of Blue Drive, an environmental initiative which will bring to market a family of eco-friendly Blue Drive products and establish Hyundai as an environmental leader. With Blue Drive products and technologies, Hyundai will be able to achieve a fleet average of 35 miles per gallon by 2015, five years ahead of government requirements. During a news conference at the Los Angeles Auto Show, the company revealed plans for its first U.S.-market gas-electric full hybrid (to be offered in the next-generation Sonata), introduced a sleek crossove...

I'm a strong supporter of global business. I'm also embrase entrepreneurship. In fact, I write on both topics frequently, Please check this out. ... With the goal to inspire young people to embrace innovation, imagination and creativity, Global Entrepreneurship Week will encourage youth to think big, to turn their ideas into reality, and to make their mark.  From Nov. 17-23, 2008, millions of young people around the world will join a growing movement to generate new ideas and to seek better ways of doing things. Thousands of activities are being planned in more than 75 countries around the world. Global Entrepreneurship Week is: founded by the Ewing Marion Kauffman Foundation and the Make Your Mark campaign; sponsored by NYSE Euronext, IBM and Ernst & Young; and, supported by JA Worldwide, Endeavor, Entrepreneurs’ Organization, DECA, YPO-WPO, National Foundation for Teaching Entrepreneurship, Young Americas Business Trust, YES - European Confederation of Young Entrepreneurs...

Collaborative cross-marketing is popular in Korea-especially with global luxury brands. The LG Prada luxury phone and Samsung's sleek Giogio Armani fashion phone are great examples. Hyundai in its drive up market has entered the co-branding race.... Media notes... Hyundai is not holding back on its ambitions to push past its budget brand connotations and move into the premium-luxury segment. The South Korean carmaker, famous for econo hatches like the Excel, has now teamed up with luxury fashion label Prada to develop special edition Genesis Sedans. One car will be unveiled at next year’s Seoul Motor Show and then displayed at the carmaker’s headquarters also in the South Korean capital. The other two cars will be auctioned at the Prada Transformer, a unique, temporary building that will accommodate a range of different art, cinema, culture and fashion events between March and July next year.The proceeds will be donated to a charity under the joint Hyundai - Prada name. Prada’s des...

Sorry, my Blog content has been light lately. Lots of travel and projects. Despite a slowdown in the economy, my global work continues to keep me busy. In brief, I'm watching the impact in Korea of President-elect Obama. I'm also continuing my ongoing study of Korean status and upmarket trends. Finally, I have a strong interest in Korea's move towards eco-friendly technology and Green mindset. DS

I'm working on an update on Koreans thoughts on American presidential election. In the meantime, Chosun Ilbo notes: What Obama's Election Could Mean for Korea The election of Barack Obama as the next U.S. president could bring about significant changes in Seoul-Washington and inter-Korean relations and function as a new variant on the Korean Peninsula. Some pundits on Wednesday speculated the Korea policy of the incoming U.S. administration will affect the currents of all East Asia. ◆ Diplomacy The North Korea policy of the Obama administration begins in his criticism of the first-term Bush administration that said no to any kind of dialogue with Pyongyang. His position has been that dialogue even with America’s enemies should be “without preconditions.” Frank Jannuzi, the head of the Obama camp's Korea policy team, publicly told the North that high-level direct diplomacy including the U.S. president is possible. Once a senior government official visits Pyongyang, as secre...