International Business Assignment: South Korea Religion's Impact

This project analyzes the impact of religion and culture on businesses in South Korea. It explores the influence of religion on business practices, the challenges faced by entrepreneurs, and the key stakeholders involved. The project investigates the cultural significance in business interactions, particularly with foreign companies, and identifies issues such as low-income areas, armed robberies, and long working hours. The analysis also highlights the role of stakeholders and their impact on inter-Korean relations, emphasizing the importance of advocacy, service delivery, and grassroots exchange. The conclusion summarizes the varied impacts of South Korean culture and religion on the business landscape.

International Business

Introduction
Trade and transactions between two global boundaries or between two
companies from different nations can be termed as execution of international
business (Internationalrelationsedu 2013).
Global business comprise of the commercial activities that are executed for
exchanging the goods, services, people, ideas etc. across national boundaries.
The below presented analysis is focused on the impact of South Korean
religion on entrepreneurs.

Impact of Religion in South
Korea
A change in region brings changes to the culture and this is due to the influence from
the religions, custom, tradition and norms (Internationalrelationsedu 2013).
In a country like South Korea, a lot of significance is given to culture which is very
unique; people practice their culture in their daily live and in fact in their business
behavior, especially when the deal is with foreign companies (Lee 2012).

Two issues faced by entrepreneurs in
South Korea
It is not so easy for foreign entrepreneurs to work in South Korea.
The main concentration of Korean business entrepreneurs is low income, minority areas, so they
have to face various problems like; armed robberies (which are very frequent), shoplifting, strikes,
boycotts and lot many other hurdles in their way of doing business (Shenkar, Luo and Chi, 2014).
Korean entrepreneurs' long hours of work are detrimental to their physical and psychological well-
being. The entrepreneurs there are very vulnerable because of these exploitations.
For the supply of merchandise, they are dependent on various out groups (Cavusgil, Knight,
Riesenberger, Rammal and Rose, 2014).

Main Stakeholders that are
affected
There are a number of co-operatives who are coming voluntarily to South Korea; they are
increasingly attracting the network of various local stake holders (Southkorea 2018). The
stake holders are the major key players in various regions of South Korea.
There has been a significant rise in the Korean stake holder which further affects the
betterment in inter-Korean relations (Neelankavil, 2015). They play a prominent role in
the further future of these inter-Korean relationships which are very necessary for in
future to draw various amenities, useful in the fields of advocacy, service delivery and
grassroots exchange.

conclusion
In the limelight of the above executed analysis it has been inferred that South
Korean culture and religion have impacts on business that are varied in nature
still the region is counted as a favorite market place due to various attributes.

references
• Cavusgil, S.T., Knight, G., Riesenberger, J.R., Rammal, H.G. and Rose, E.L.
(2014) International business. Pearson Australia.
• Internationalrelationsedu, (2013) What is international relation, [Online]. Available at:
https://www.internationalrelationsedu.org/what-is-international-business/. [Accessed on 28th
September 2018].
• Lee, C. Y, (2012) Korean culture and its influence on business practice in in South Korea,
[Online]. Available at: http://www.jimsjournal.org/21%20Choong%20Y.%20Lee.pdf.
[Accessed on 28th September 2018].
• Neelankavil, J.P. (2015) International business research. New York: Routledge.
• Shenkar, O., Luo, Y. and Chi, T. (2014). International business. New York: Routledge.
• Southkorea, (2018) Doing business in South Korea,, [Online]. Available at:
http://www.southkorea.doingbusinessguide.co.uk/the-guide/south-korean-culture/. [Accessed
on 28th September 2018].