Course Description

Course Name

Korean Business and Management in the Asian Context

Session: VSOF3221

Hours & Credits

3 Credits

Prerequisites & Language Level

Taught In English

  • There is no language prerequisite for courses at this language level.


Course Overview
The course provides an overview of various aspects of Korean business and management in the Asian economic context. Development strategies of Korean economy and business will be discussed from the historical perspective. Also Political, socio-economic, and cultural environment for Korean business and management will be discussed in depth. Successful business strategies of selected Korean firms will be also highlighted. Implications of Korean business and management to China and other Asian countries will be drawn.

Course Objectives
The gradual development of many Korean firms and industries since the 1970s has captured the attention of academicians and practitioners worldwide. Korean economy now forms an integral part of the Asian economy, and, as such, there is an increasing need to understand how Korean firms became competitive and successful in Asian economy. Even though Korean firms, like other Asian companies, are facing many new challenges such as slowdown of global economy and volatile international financial market, they are expected to continue to grow in the global market.

This course reviews the historical development of Korean economy and business and analyses the factors which influence the operation of Korean businesses. The focus of the course is on how changes in the business environment including government policies have impacted on international competitiveness as well as functional strategies of Korean firms during the last several decades. The main objectives are to help students understand:

-Development of Korean Economy and Business

-Role of Korean Government on the Growth of Korean Business

-Political, Social, and Cultural Environment of Korean Business

-Korean Chaebuls (MNCs)

-Korean Business, Marketing and Management from a Cultural Perspective

Learning Outcomes
After completing this course, students will gain an appreciation of the economic, political and managerial aspects of Korean companies and will develop skills in analyzing managerial strategies of Korean firms. At the end of the semester, the students are expected to:

1. Have an in-depth understanding of the political, economic and cultural factors which have shaped the business environment of Korean business;
2. Develop a knowledge of the competitive dynamics of Korean firms;
3. Critically assess the competitive and functional strategies used by Korean multinationals; and
4. Apply the knowledge learned in the class to other countries or firms.

Learning and Teaching
The lectures define the broad issues to be studied. It is assumed that student reading materials (and further resources in the library or various website sources) will provide detailed understanding of issues. Students are also expected to keep aware of changing conditions in the Korean business environment and are encouraged to read regularly Korean business periodicals and media reports pertaining to Korea.
Course delivery includes lectures, class discussion, case analyses, and possible guest speaker(s). Those methods introduce the theoretical concepts to students and illustrate how those principals are applied in Korean business. Students are expected to be fully prepared for each class and contribute actively to the learning process.

1. Course Reading Set prepared for Korean Business and Management Class

*Course content subject to change