Essay Title: 

International Bus4-task2

March 17, 2016 | Author: | Posted in mathematics and economics, trade

Since 1990 , South Korea ‘s economy went through some major changes . The development of some branches was quite amazing in its velocity . One of the industries that evolved quickly is also the chemicals industry including the detergent ‘s market

In the first years of this transitory period of Korea ‘s economy , local producers of detergents developed their businesses , but the major problem which all of them had to face soon after , was the dissolving of most of the raw materials national producers . Fortunately , after a period of crisis , which led to the [banner_entry_middle]

disappearing from the market of some major national companies , not only from this domain but also from the construction or pharmaceutical industry , the producers who still survived , knew a rapid growth . One of the oldest producers of raw material for a special kind of detergents is Aekyung Specialty Chemicals Co ,Ltd (AKSC ) established in March 1982 . The other major raw materials producer is a newer market player , DC Chemical Co , Ltd (DCC . Though appeared on the market as DCC in May 2001 , it was raised from the merging of Oriental Chemical Industries and Korea Steel Chemical . As for the production area , the biggest national producer of detergent is LG Household Health Care Limited . Though this company does not produce only detergents but also a varied type of domestic cleaning products the best known brand is Persil , a laundry detergent mark

In to build a detergent plant I had to underline the presence of the other major players in my areas of interest , the raw material distributors and the detergent producers . The biggest advantage is that South Korea can be still considered if not a new market , but an open one . In regard to the legislation area , major progresses were registered within the past 10 years . In 1993 , the government began the implementation of a “Five -Year Foreign Investment Liberalization Plan this plan being afterwards revised for Korea ‘s entry into the Organization for Economic Co-operation and Control (OECD ) in 1996 . After a crisis period , in 2000 , South Korea began the implementation of reforms regarding trade policies and investments facilitations . In a press release from 2000 which was related to a World Trade Organization report over South Korea ‘s progress it is told that The response of the Government of Korea to the recent severe crisis and recession was not to resort to protectionist measures but rather to opt for far-reaching market-based reforms , says a new WTO report on the trade policies of Korea . The report adds however that such reforms , which are essential for the achievement of a stable basis for sustainable and equitable growth of the Korean economy , are still incomplete . The new WTO secretariat report , along with a statement by the Korean Government will serve as a basis for the trade policy review of Korea which will take place in the WTO Trade Policy Review Body on 26 and 28 September 2000 . [ .] The report notes that progress in the manufacturing sector has been… [banner_entry_footer]

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