International Marketing, Case Study, Identity South Korea’s current ideologies (individualism or collectivism), political system (democracy or totalitarianism), and legal system, and economic system

Case Study: “South Korea.”

Case Information

Korea

Authors: Feinhardt, Schlefer, Wong, and Yamazaki

Questions

1. (10 points) Identity South Korea’s current ideologies (individualism or collectivism), political system (democracy or totalitarianism), and legal system (common law or civil law), and economic system (market economy or command economy). You may conduct some general web search if necessary.

2. (10 points) Complete a comparison of Hofstede Cultural Dimensions between the U.S. and South Korea cultures using the website https://www.hofstede-insights.com/product/compare-countries/ (Links to an external site.)Links to an external site.. Identify any significant differences between the two profiles (you can disregard the Indulgence dimensions) (10 points)

3. (10 points) According to the case, when did South Korea become a democratic nation? Please provide your evaluation vis-à-vis the following criteria
Free and fair election
Multi-party system
Peaceful transition of power
Political freedom (freedom of speech and assembly, etc.)

4. (10 points) Is South Kore “Chaebol-based” economy “state capitalism”? Provide your answers vis-à-vis the definition of “state capitalism”.

5. (10 points) How did Park Chung-hee’s dictatorship promoted or hindered the economic development of South Korea? What can you learn from this?