Manufactured Goods in Korea

In: Business and Management

Submitted By mon25361
Words 497
Pages 2
South Korea is recognised as one of the fastest-growing economies in the world. During the four decades following the Korean War, it evolved from one of the most abject states in the region to one of the most vibrant, a manufacturing powerhouse that has virtually eradicated poverty, malnutrition, and illiteracy.

Korea is today among the most advanced automobile-producing countries in the world.

The automotive industry is the fifth-largest in the world measured by automobile unit production and the fifth-largest by automobile export volume. Some examples: Hyundai, Daewoo, Kia, Renault Samsung vehicles

LG and Samsung – which are the most manufactured foods in South Korea. Both companies have a reputation for quality, innovation and value.

Focus: Samsung

Less than a decade ago, Samsung Electronics was a maker of lower-end consumer electronics, barely noticeable in global markets. The company figured out how to move up the value chain by building a strong brand image and innovation. Its efforts are paying off: in 2009, Samsung ranked 19th on Interbrand’s Best Global Brands list. Samsung’s rise in ranking over the last decade was the fastest among any of the top 100 brands. It has even surpassed rival Sony with a ranking of 20 and sony 29. Hyundai Motor and LG Electronics are making similar dramatic progress.

In 2012, it overtook longtime leader Nokia to become the No. 1 player in cellphones, with 29% market share worldwide. In smartphones, those high-end devices with advanced computing power, Samsung is also No. 1 globally and in a dead heat with Apple in the U.S.: In the weeks following the launce of Apple’s iphone 5, Samsung sold a record-breaking no. of its own sig. smartphone, the Galaxy SIII. Most analysts show Apple with a slight edge in smartphone sales, while one outfit, ABI Research, says Samsung’s share of smartphone shipments topped…...

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