Analysis of France and South Korea's Viability for QL Bee's Honey Export

Running head: GLOBAL BUSINESS 1
Global Business
Name:
Institution

GLOBAL BUSINESS 2
Table of Contents
1.0 Introduction.......................................................................................................................................3
2.0 Economic Climate.............................................................................................................................3
2.1 Economies’ Overview.......................................................................................................................3
2.2 Strengths and Challenges...................................................................................................................4
3.0 Political Setting.................................................................................................................................6
3.1 Current Political Climate...................................................................................................................6
3.2 Political Risk and Stability................................................................................................................6
4.0 Business Environment.......................................................................................................................7
4.1 Conducting Business.........................................................................................................................7
4.2 Market Potential................................................................................................................................7
5.0 Country Recommendation.................................................................................................................8
5.1 Implications and Recommendation....................................................................................................9
6.0 Conclusion.........................................................................................................................................9
References.............................................................................................................................................11

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1.0 Introduction
This report seeks to analyze the political, social economic, and the business environment
of France and South Korea, including their demand for Australia’s QL Bee’s honey. Australia’s
beekeeping industry has become greatly successful as a result of the country’s extensive
vegetation that includes several varieties of eucalyptus as well as other endemic flora, which is a
great source of pollen and nectar. Also, this has been facilitated by the country’s ideal climatic
conditions. Australia is ranked among the top ten honey producing nations across the globe, with
most of its honey being exported to other countries due to the high demand for local honey. This
demand thus translates to the overseas expansion of the Australian honey firm QL Bee. By
comparing France and South Korea’s market viability, the report seeks to identify the optimal
choice for QL Bee and its products.
2.0 Economic Climate
2.1 Economies’ Overview
The economy of South Korea is the fourth largest in Asia and the eleventh largest
globally. By the middle of the 21st century, it is estimated that it will be among the eleven
countries that will dominate the global economy (Connolly & Yi, 2015). Additionally, according
to the 2018 nominal figures, France has got the world’s sixth largest economy. The country’s
economy is also attributed to its tourism sector, which remains to be the most visited nation
globally.

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("France GDP per capita PPP - Forecast", 2018) ("South Korea GDP per capita PPP - Forecast", 2018)
The graphs indicate that both France and South Korea have an economy that is
continuously growing and the projections indicate a continuous growth in the two country’s
economy (Gond & Boxenbaum, 2013). However, it is clear that France’s economy is far much
better than that of South Korea.
2.2 Strengths and Challenges
South Korea and France’s economies present both benefits and challenges to QL Bee
firm in exporting honey. The tables below expresses these factors by comparing the two
countries’ economic indicators measured from 2013 to 2017.
France Economy Data
2013 2014 2015 2016 2017
Population (million) 63.7 64.0 64.3 64.6 64.8
GDP per capita (EUR) 33,251 33,601 34,188 34,496 35,387
Unemployment Rate 10.3 10.3 10.4 10.1 9.4