[Your Name Here]

Introduction Going into global markets. Dream of any entrepreneurs. Opens the door to many opportunities. International export opportunities. – Product: Cosmetics – Target Market: South Korea

Description of Product to be Exported Cosmetics – Men’s cosmetics – Natural/Organic skin products – Cosmeceuticals anti-aging Skin whitening Anti wrinkles Anti-ultraviolet

Characteristics of Target Market GNP/capita : $24,200 (2007) – 1/3 from exports of goods. – growing much faster than the population. – similar to those of the other rapidly developing East Asian countries. GDP per capita : $26,277 (2007) GDP growth rate : 5.1% (2007) Size of market – Nearly 100 million population

Basic Need Potential Sales of US cosmetics in Korea increased significantly. Imported cosmetic skin care products accounted for about USD million

Exchange Rate Trends Current Rate – 1 KRW = USD – 1 USD = KRW Universal exchange rate

Import Restrictions Currency import/export restrictions Government regulations – Beef restrictions – British pork – Red Wood – Italy’s mozzarella cheese – China- made foods including milk powder.

Price Controls U.S. goods often perceive to be very expensive. The U.S. - Korea Free Trade Agreement (KORUS FTA) Consumer protection legislation Sales tax VAT Commissions

Government And Public Attitude Toward Buying American Products Good US-Korea government relations. High interest with “American Lifestyle”. High regard for quality and US food products. Love-hate relationship with foreign brands.

Size, Number, And Financial Strength Of Competitors On-line shopping malls Television home-shopping channels such as QVC Pharmacies/drug stores Catalogue orders Olive Young by CJ W-Store by Kolon GS Watson’s by GS

Socio-Cultural Forces Cultural diversity Family Treatment Old customs and traditions retention Religious Affiliations Population Ethnicity

Socio-Cultural Forces Self Expression Gender inequality and sex discrimination Shopping Habits View on North Korean affairs

Attitudes and Beliefs Business Habits Close government /business ties system Close scheduling of business meetings. Meeting over a coffee or a dinner.

Attitudes and Beliefs Answering positively Respect to seniors. Prolonging business decisions Reading business cards immediately

Attitudes and Beliefs Ideological Beliefs Preservation of national values Respect of democracy High regards to freedom and prosperity

Attitudes and Beliefs Peace with surrounding powers. Benefit all mankind. Adherence to Confucianism. Female domesticity.

Languages Korean Local dialects Chinese (Hanja) English

Education Spent almost 10% of the GDP for education. 97% attained at least secondary education. Attitudes on education culturally and politically influenced. Meritocracy idea Many opt out to study abroad.

Export Marketing Strategies Promotion Methods – Media Advertising – Trade fair – Brochures and fliers Door to door sales Multi-level Marketing Distribution and Sales Channels Catalogues orders Selling Factors/Techniques

Conclusion An analysis of exporting cosmetics to South Korea is a promising export opportunity. Go to Korea!

References Doing business in Korea A country commercial guide for U.S. Companies. Retrieved September 26, 2008 from Remarks in dialogue with internet journalists (March 20, 2005). March 2005: secretary’s remarks. US Department of State. Retrieved September 26, 2008 from Shin, TJ. Korean women in American labor:analysis of the difference within and between. Retrieved September 26, 2008 from df South Korean Won vs American Dollar graph Retrieved September 26, 2008 from (May 2005). Country profile: South Korea. Retrieved September 26, 2008 from