Study On Marketing Localization Strategy Of Korean Large Companies In China

Although China and Korea have only been building their economic and diplomatic ties for the last 15 years,there has been a notable rapid development in economic partnerships and trade:with Korean investment increasing year on year.However,many Korean companies simply do not investigate the environment of the Chinese market fully,and ignore the differences in local culture.After entering the Chinese market therefore,many Korean companies have faced problems and troubles.Therefore this research,with a special focus on Korean companies,will examine the economic,social and cultural policies in China.At the same time,the research also analyzes the main problems associated with localized marketing and suggests special strategies to tackle this.The localized marketing of Korean foreign investment firms in China is becoming one of the key success factors behind their economic performance.They are just beginning to execute the localization of their business management,especially after experiencing the excessive labor disputes towards the end of the 1990's,the main motive behind Korean firms in China is changing from a utilization of low labor costs to the pursuit of China's domestic market.The recent wage level increases seen in China are likely to cement this change in policy in the future.Meanwhile,the research trend about Korean firms in China is moving from that of an entry mode into China towards a more fully operational one.This study concentrates on the marketing localization strategies of Korean firms in China: where long-lasting relationships,new investment and the building up of production bases in China is the goal.Through the process of a case study and by analyzing the Chinese market, the study presents the guidelines for an appropriate marketing strategy in China;a strategy which could provide Korean investors and companies with some useful directional guidance when preparing foreign investment to China.