Emerging Asian Economies and MNCs Strategies

Emerging Asian Economies and MNCs Strategies

New Horizons in International Business series

Edited by Robert Taylor and Bernadette Andreosso-O’Callaghan

Analysing the role of multinational investors in emerging Asian economies and the implications for regional economic integration, this astute study examines the increasing role being played by Asian countries in the global economy. Encompassing a large number of diverse manufacturing and service sectors, this book highlights the cultural and strategic challenges faced by multinational investors in the region in which they invest. It shows that despite high rates of economic growth in Asian countries presenting multinational traders and investors with unparalleled market opportunities, there have been only tentative moves towards regional economic integration. Areas such as trade facilitation, uniform customs clearance, removal of non-tariff barriers and labour deployment issues are yet to be adequately addressed.

Chapter 11: The emergence of Samsung as a global ICT player

Nigel Callinan

Subjects: asian studies, asian business, business and management, asia business, international business

Abstract

Telecommunications and smart mobile devices have now become some of the key export areas for South Korean companies. As with the other products and services that come from this East-Asian country, the bulk of exports originate from giant, family-run Chaebol multinational corporations (MNCs). The major Korean players in ICT over the past three decades have been Samsung, SK, Korea Telecom (KT) and LG. However, in recent years Samsung has started to move significantly ahead of all its domestic competitors, becoming a major global company in a relatively short time period. In 2009, Samsung reached the pinnacle of its field by being recognized as the world’s largest ICT company based on revenue, and it held that position throughout the next five years. ICT and mobile devices may be Samsung’s main source of revenue but the company conducts business in a diverse range of industries including shipbuilding, construction, consumer electronics, retail and insurance. In this chapter, the focus is on how Samsung created a close relationship with the Korean government in the ICT area; effectively creating a protected business environment that assisted with its global expansion plans. Key words: ICT, telecommunications, technical barriers to trade, Korea.

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