This document provides an analysis of different retailers' entry and performance in the South Korean market, including Walmart, Tesco, and Costco. It discusses their market entry strategies, segmentation approaches, and marketing mix decisions. Key insights include Tesco leveraging its partnership with Samsung for domestic recognition, while Costco focused on upscale shoppers. Both Tesco and Costco saw growth in sales volume, though traditional Korean retailers still dominated food sales. The analysis examines how adapting to local consumer preferences and culture was important for their success in South Korea.

1. Global Marketing
Wei-man Lee, Mengxia Lu, Difan Zhang, Cheng-chen Wei,
Kawai Chan, Tuna Ugur

2. China Russia
North Korea
Japan
North-East Asia
It is bound by North Korea to the north, the Yellow Sea to the west as
well as the Korea and Cheju Straits to the south.

3. Population Religions Language
2010 Total population Confucianism, Shamanism, Chr The Korean language is related
(thousand persons): 49,410; istianity, Buddhism and to Japanese and Mongolian
Chondokyo
Males: 24,758 a large number of Chinese
Female: 24,653 cognates exist in Korean
Source: Statistics Korea, 2011 Source: Datamonitor, 2011 Source: Datamonitor, 2011

4. Dry & Cold in winters Famous for Winter Sport
Hot & Humid in summers Activities fluctuate for heavy rain

5. WHICH MARKETS
TO ENTER External analysis
Political factors
Economical factors
Social factors
Technological factors
Environmental factors
Legal factors
MARKET ENTRY STP strategy
STRATEGIES Entry mode strategy
MARKET Marketing mix (the 4 Ps)
PROGRAMME Case study
Opportunities

6. WHICH MARKETS
TO ENTER External analysis
Political factors
Economical factors
Social factors
Technological factors
Environmental factors
Legal factors
MARKET ENTRY STP strategy
STRATEGIES Entry mode strategy
MARKET Marketing mix (the 4 Ps)
PROGRAMME Case study
Opportunities

7. PESTEL analysis of South Korea
A framework of macro-environmental factors used in the environmental
scanning component of strategic management.
Political factors
Economic factors
Social factors
Technological factors
Environmental factors
Legal factors

8. Political factors
Government Form: Republic
Government effectiveness: 86.7 % (2009). Pursuit stability in policy formulation and
implementation.
International Relation: Strongly ties to the U.S., China, Japan, and Russia.

9. Political factors
Current Strengths Current Challenges
• Centralization of Power • Military influence in South Korean
• Political will for economic reforms politics
• Strong foreign relationships • Factionalism in the ruling party
Future Prospects Future Risks
• Strengthening relationships with EU • North Korea remains a major threat
• By-election result indicate increasing
discontent with the government
Source: Datamonitor, 2011

10. Economic factors
Strong economic growth in 2010 after achieving modest growth in 2009.
GDP Source: Datamonitor 2011

11. Economic factors
Major business trade relation
Source: Economist Intelligence Unit, 2009

12. Economic factors
SMEs(small manufactures enterprise) in South Korea are financially weak.
Foreign investment has been decreasing.
Source: Datamonitor 2011

13. Social factors
Low fertility rates and Aging society
Rapid Urbanization
South Korea 1960 2000
Population in the Seoul 5 Million 21 Million
Metropolitan Area
Percentage 20.8% 46.3%
Source: Datamonitor 2011

14. Social factors
Highly-educated workforce.
Working Age Population will be 72.9% in 2016.
High wages and Rising power of labor unions
Labor market flexibility has been hampered by high costs and the militancy of
the country's labor unions.
Source: Datamonitor 2011; Korea Statistics, 2011

15. Social factors
Cultural Dimensions
Live in a hierarchical and collectivistic society
Live in a feminine and long-term oriented society
Most uncertainty-avoiding country
Source: geert-hofstede

16. Social factors
Examples:
Zhang and Dodgson(2007) have given an character sketch of the founder of a
Korean start-up IT company, Mr. Lee:
“We found Mr. Lee was influenced by his parents, and sometimes followed
their advice-even though he knew they were not necessarily right, because he
could not face losing business relations from his personal networks.“
Source: Hollensen, 2011

17. Technological factors
The most wired country- communications and internet facilities- in the world.
Well known for technological innovation.
• There are about 900 R&D centers that include foreign participation.
• The gap between innovation and commercialization is very small.
Source: Datamonitor 2011

18. Environmental factors
Limited natural resources, soil erosion
Strong governmental intervention to protect environment
Environmental technology development
Source: Datamonitor, 2011

19. Legal factors
Strong government support:
• Simple foreign investment process.
• Tax reduction and exemption.
• Equal treatment with Korean nations
Low investment freedom. (government intervention)
Laws and regulations are often framed in general terms and are subject to differing
interpretations by government officials, who rotate frequently.
Source: The PRS Group, 2011; Datamonitor, 2011

20. Insights:
South Korea is a very attractive market due to:
1) Fast pace of economic growth;
2) Strong government support;
3) Highly educated workforce;
4) Technological capability.
However,
• North Korea issue arouse concerns both politically and economically.
• Social and cultural pride may lead to Koreans’ restrict to new brand or foreign
brand.
Generally, South Korea is a country of moderate investment risk.

21. WHICH MARKETS
TO ENTER External analysis
Political factors
Economical factors
Social factors
Technological factors
Environmental factors
Legal factors
MARKET ENTRY STP strategy
STRATEGIES Entry mode strategy
MARKET Marketing mix (the 4 Ps)
PROGRAMME Case study
Opportunities

22. Sensitive to health issues
E.g. Health food market
A consumer survey conducted in 2005, indicating that 80% of consumers
purchased organic products because they concerned about their family’s
health; 72% concerned about food safety.
Source: OECD,2011

23. Decreasing Increasing Increasing
Source: OECD,2011

24. STP strategy
Longer life expectancy
Increasing life expectancy and falling fertility is driving population ageing.
People aged 65+make up 7% of the total population.
Younger people purchase more
Young consumers have become consumer trendsetters in Korea, as their
spending power increases.
Source: OECD,2011

25. Market prospect
Health food market expands
Source: OECD,2011

26. Entry mode strategy
1)Export entry modes; 2) Contractual entry modes; 3) Investment entry modes
Investment entry mode
Requires the greatest commitment of management and financial resources.
FDI Failure Examples: Planet Hollywood restaurant
Source: Hollensen,2011; Min 2005

27. Entry mode strategy
Joint ventures/strategic alliances
In Korea, economy is dominated by business conglomerate like Samsung.
There is a often complex love-hate relationship with foreign brands.
Insights: In Korea, business relationships are built upon personal ties and social
introductions. Language barrier and established business circles makes it extremely
difficult to enter Korean market. Therefore, local representation is essential for the
success of foreign firms in the Korean market, especially the support from chaebols.
Source: OPA; Hollensen,2011; Min, 2005

28. Entry mode strategy
Examples:
Source: Samsung, 2011

29. A unique opportunity: the rapidly growing LCD TV market and champions
industry-wide standardization of LCD TV sizes.
Goal
Construct a mutually beneficial relationship
After joint venture
A stable supply of LCD panels
Efficient production output in supporting the LCD TV
business efforts at both companies.
Source: Samsung, 2011; BBC News, 2011

30. WHICH MARKETS
TO ENTER External analysis
Political factors
Economical factors
Social factors
Technological factors
Environmental factors
Legal factors
MARKET ENTRY STP strategy
STRATEGIES Entry mode strategy
MARKET Marketing mix (the 4 Ps)
PROGRAMME Case study
Opportunities

31. Marketing mix: Product
Koreans value product quality, service and safety, consumers focus more on
health than before.
Strong pride in domestic brands.
High requirement of localization.
Insights: Marketers have to adopt localization strategy when marketing
their products to the demanding Korean consumers in face of their loyalty
to Korean local brands. After-sales service is supposed to contribute the
same importance compared to product quality itself.
Source: OPA; Park, 2004

32. Marketing mix: Product
Examples: McDonald’s double-digit growth for 5 years
Customized breakfast.
Kimchi and bulgogi burgers are offered along
with a red bean pie.
Home delivery
Source: Kim, 2011

33. Marketing mix: Product
Examples:
Source: Burt Herman, 2006

34. The Korean slice of the Web is relatively small
compared to the English-language chunks of
cyberspace.
NAVER: Knowledge iN, where users post
questions that are answered by other users.
"Korean netizens like to interact with other
people, they want to answer questions, they
want to reply."
Source: Burt Herman, 2006

35. Marketing mix: Pricing
Generally price sensitive.
Quality conscious and brand loyal, less likely to switch to less-expensive products.
Insights: A strong brand loyalty is a very important aspect for marketers to
consider in order to make more profits.
Low price strategy should not be used for luxury brands because it may
increase the intrust.
Source: Datamonitor,2011; M. Kim et al. 2010

36. Marketing mix: Distribution
Korean corporate retailing
Traditional channel
Department Specialist Franchising Non-store
Supermarket
Stores Stores Chain Stores Merchandising
Internet Home TV Catalogue Home Visitation
Shopping shopping Ordering Sales
Source: Min, 2004

37. Marketing mix: Distribution
Korean distribution channel: Archaic, complicated network
Traditional Distribution Channels: higher brand values.
Mass distribution strategy threats luxury brand legitimacy.
Insights: When choosing distribution channels, company should consider
their positioning strategy and use proper distribution channels. Price
sensitive products should not be distributed to Koreans through
department stores.
Source: M. Kim et al. 2010 Dion&Arnould,2011 Min, 2004

38. Marketing mix: Distribution
Examples:
LV’s distribution channel in South Korea: Specialty
stores and department stores.
Traditional Distribution Channels: higher brand values.
Achieving higher social value, utilitarian value and
emotional value.
Source: M. Kim et al. 2010

39. Marketing mix: Promotion
Koreans as uncertainty-avoidance consumers, prefer utilitarian benefits.
Demonstrations, consumer contests, the use of novelties (free gifts), and
guaranteeing quality.
Using Coupons is viewed as being less affluent in Korea.
Insights: Compared to more hedonic benefits, it is more effective to give out
utilitarian benefits to attract more Korean consumers.
Use free products and promotional sales rather than low price strategy.
Source: Kwok& Uncles, 2002; Raymond& Lim, 1996

40. Marketing Communication
TV and Internet share most of the media
market in South Korea.
Korean marketer tend to emphasize visual
brand information.
Insights: International marketers must pay more
attention to the communicative power of physical
attributes and features( especially virtual
communities) of brand identity that can translate into
gains in IMC.
Source: Koreanclick New Survey, 2008; Lee, 2011

41. Marketing Communication
Conformity with family, friends, and neighbors opinions.
Word of mouth is the most trusted source for Korean consumers.
Respect for authority.
Insights: Marketers should develop their promotion strategies through
virtual, authority-involved-advertisements. Service aspect should be paid more
attention due to the word- of- mouth effect.
Source: Taylor et.al, 1993; Raymond & Lim, 1996; Koreanclick New Survey, 2008

42. Marketing Communication
Examples: Brand placement
Korean practitioners connect symbolic
assertion and brand familiarization strategies
that were supported by indirect, mood-
creating visual messages to brand placement
practice.
Source: Lee, 2011

43. Case study
Wal-Mart & Tesco & Costco
in South Korea
“Think globally, act locally”( R. Mead, 1998)

44. Background
Sales of food retailers compare with GDP
1998 2001 2003 2005
Sales of big super chain 91.8 114.2 170.4 188.4
GDP of Korea 394.7 486.2 662.6 721.4
Sales of big supermarket 20.2% 23.6% 25.7% 26.5%
chain /GDP
In spite of financial crisis, big supermarkets’ has been growing constantly,
Source: The Bank of Korea, 2006

45. Korea Market Wal-Mart Tesco Costco
1994 Price Club & Shinsegae:
Enter Korea
1996 liberalization of the food • Market saturation in U.S.
retail sector by the Korean • Forced to develop
government international market
• Enter Korea
1997 Economic crisis Resumed Costco brand
name
1998
1999 • Samsung needed a
Foreign supermarkets’
foreign partner for
discount strategy 
restructuring(financi
consumers start to choose
al crisis)
foreign discount retailer
• Samsung & Tesco:
over department store
Enter Korea
2006 • Withdrawal from Korea
• sold 16 stores to Shinsegae
for 882million
Source: Choe, 2006

46. Tesco & Costco’s performance in Korea
Sales Volume (₩ KRW) Market Share
Costco Korea Samsung Tesco Costco Korea Samsung Tesco
10354.3 5.20% 5.20% 5.20%
9718.3 4.80%
9145
7883.4
3.50%
5532.4 2.80%
4364.2
1515.2 1845.6 0.80% 0.90%
1250.3 0.50% 0.60% 0.70%
683.1 808.3 994.3 0.40%
2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010 2011
Source: Euromonitor, 2011

47. Traditional markets are still Korean’s favorite place to purchase food (others 57%).
Costco Lotte
1% 10% E-Mart Hyundai
6% Department
Store
2%
Others Samsung
57% Tesco
Domestic 5%
retailers
(34 firms)
19%
Market Share of Food Retailing in Korea
Source: Euromonitor， 2011

48. Concept of value exchange
Highlights the importance of focusing on value determined by customers
and tailoring products and service accordingly rather than focusing on the
comparison of the previous year’s figures as well as competitor-based
performance.
Source: Grant and Schelsinger, 1995

49. Market entry Strategy
Wal-Mart Tesco Costco
• Enter Korean • Use Samsung’s name to create domestic • Price Club&
market without recognition Shinsegae=
any local partner • Hire local managers with only a few Costco of Korea
operational experts from UK
• Implemented its • Support English training
U.S. model • Leverage on Samsung’s knowledge and
expertise of local market condition
• “Shinbaration” culture=eastern (contribution
&enjoy) +western culture(rational)
• Time ”mileage” system: awards those who
work overtime
Source: Choe, S. H., 2006

50. Segmentation
Wal-Mart Tesco Costco
• Middle class • Urban consumers • Upscale shoppers
• Lower middle • Quality focused • Especially small-business
class • Teenagers owners
Source: Gorton, M. & Sauer, J. & Supatpongkul, P., 2011

51. Marketing strategy: Product Decisions
Korean’s Attitude Wal-Mart Tesco & Costco
• take freshness of food • offer bulk-size products for • Focus on fresh food and beverage.
products very seriously. longer storage. • Transform the traditional outdoor
market into a convenient indoor
• Willing to make frequent • Assume customers make fewer format in hypermarkets by offering
trip to markets to buy frequent trip to supermarkets live seafood, local delicacies, and on-
small volume of fresh like American customers. site packaging services.
products. • Offers partially processed fresh
• Uniform merchandizing & products and repackaged into a
• Prefer small packaging distribution strategies that ready-to-cook(eat) form.
products, given their small limits product choice and • Its meat section has sales staff that
houses with limited constraint in adapting local cuts and custom packages according
storage and freezing tastes and preferences. to customer’s preference.
spaces. • A deli- section that sells popular
traditional Korean food (Tesco).
• Costco don’t pretend to be Korean but
sells lots of new/different products to
make shopping interesting.
Source: Jungmo, K., 2008

52. Marketing strategy: Promotion & Pricing decisions
Korean’s Wal-mart Tesco Costco
expectation
• Prefer free products • Pricing • Homeplus Family • Worldwide standardized
and promotional System: EDLP Membership card membership System
sales than every day (Everyday
low price Low Price) • Buy one get one • Offer discounted pricing
free on smaller quantities
• Are quality conscious • Value=price (such as E-Mart)
and brand loyal, and
so are less likely to • Value=quality
switch to less-
expensive products
Source: Jungmo, K., 2008

53. Marketing strategy: Service
Korean’s Wal-Mart Tesco Costco
expectation
• Unwilling to • Ware house style without • “Applause mileage • Taking care of
compromise assistance of sales people card” for good customers and
customer service who give out free samples service employees.
and quality for and help package and wrap • “Great Stone Face” • Takes
low price products in the store business model: precedence over
• Expect more • Wal-Mart believes that balancing rewarding
customer service shareholders are best growth(Market shareholder
(ex: salespeople served if employers do all Value) and Social • Average hourly
in each aisle of they can to hold down Contribution(Social wage is $17 an
store) costs, including the costs of Value)-”The Korea’s hour.
labor. most admired
• Average pay of a full-time company”
worker at Wal-Mart is
$10.11 an hour
Source: Yoo-Taek Lee, 2010

54. Marketing strategy: Retail Environment
House of Parliament in Britain vs. Samsung Tesco in Korea
We’ll always listen to our customers.
Source: Jungmo, K., 2008

55. Marketing strategy: Internal Management
Korean’s expectation Wal-Mart Tesco
• Location determines where • Assume consumers use • Strategically upscale its
they shop vehicles to shop and store atmosphere: Value
• Shops mostly in the distance is a less critical Store  Touching Store 
metropolitan areas factor Green Store
• Prefer stores with close • Built stores in distant areas • First retailer in the world
proximity where land prices were low who emphasize store
• Expect a more tailored retail (had only one in 16 stores in identity->UK House of
environment Seoul metropolitan area) Parliament
• Failed to achieve economies
of scale because of store
location
Source: Renee B. Kim, 2008

56. WHICH MARKETS
TO ENTER External analysis
Political factors
Economical factors
Social factors
Technological factors
Environmental factors
Legal factors
MARKET ENTRY STP strategy
STRATEGIES Entry mode strategy
MARKET Marketing mix (the 4 Ps)
PROGRAMME Case study
Opportunities

57. Opportunities
Flavored Alcoholic drinks

58. Market prospect
Alcohol consumption: South Korea ranked 13th in the world. (WHO, 2011)
Market value is expected to keep growing in the next few years
Source: Euromonitor International,2011
WHO, 2011

59. The change of drinking culture
Socialize/ Business meeting/Gift
Women’s increasing participation in social and economic activities
Source: Euromonitor, 2012

60. Flavored alcoholic drinks –pattern from strong to light drinking
More aware of their health.
The increasing popularity of luxury brands.
Branding and product image have a growing role in the market.
Source: Euromonitor, 2012

61. Opportunities
Fresh Coffee

62. Market prospect
Coffee continued to record strong retail sales growth in 2010.
Annual coffee consumption per person in Korea
400
291 312
283
300 253 248
200
100
0
2006 2007 2008 2009 2010
Source: Korea Statistics, 2011

63. Market prospect
Coffee market is expected to grow continuously.
Fresh coffee and instant coffee recorded positive sales growth while
following health and wellness trends.
Source: Euromonitor , 2010; TransWorldNews, 2011

64. Coffee culture in Korea is booming
Korean consumer increasingly enjoy the taste of coffee.
More customers prefer high- quality coffee.
Koreans like to spend a lot of time in coffee shops.
Enjoy hanging out to socialize or study using a coffee shop.
Coffee is also at the center of soap operas.
e.g. 2007 , Popular TV series ‘The 1st Shop of Coffee Prince’
e.g. 2010, Popular TV series ‘Coffee House’
Source: Euromonitor , 2010; Southerton, 2007; Arirang, 2011

65. Fresh Coffee drives the coffee culture and follows the trend
Coffee has developed in line with the coffee culture in cafés and specialist coffee
shops.
E. g. Starbucks
Starbucks as a popular meeting place for Koreans
Starbucks as one of the top 3 chained specialist coffee shops in 2010
Over 1,392 branches across the country in 2010
e.g. Available customers to stay
e.g. Long opening hours
e.g. Provide quality coffee and food
Euromonitor , 2010; Arirang, 2011

66. Opportunities
Leisure hotel

67. Market prospect
The market share of hotel industry in South Korea will increase by
44.3%, 12.7 billion in 2015.
Asia- Pacific Hotel industry market share
Others China
40% 43%
Japan
8%
South Korea
Taiwan 6%
3%
Source: Datamonitor,2011

68. Market prospect
Host of 2018 Winter Olympics

69. South Korea has 62 legal holidays, not including weekends
Tend to travel in Groups, 56% consumers travel with families.
52% people have more than 3 vacations a year.
Source: Lee & Sparks,2007

70. Prices sensitiveness and prefer short vacation.
Brand recognition, prefer international brand.
Leading company in South Korea hotel industry
Wyndham Worldwide Best Western Accor Hilton World Wide
Source: Datamonitor, 2011; Lee & Sparks,2007

71. Conclusion
Merit:
Economic strength and continues to report high growth.
Strong support from Government to encourage foreign investment.
World-Class Multinational Companies.
Equal treatment with Korean nationals generally.
Demerit:
Language problem.
Management style .
Conservative culture.

72. Conclusion
Recommendations:
Respect Korea culture
Cooperate with local companies

73. Limitations
Cannot cover all industries.
No in-depth analysis in each industries and products specifically.
Difficult to access information.
Neglect the comparison between neighboring countries such as China and Japan.

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79. Thank you
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