
How Asian Brands Soar
Chung K. Kim, Greg Pratt, Mina Jun, Miyea Kim, Jeongsoo Han, Joshua Kim
천년의 보물·2014-03-31
- 사회과학
- KDC 325.571
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PREFACE Recently, Korean products and brands have become very popular in all corners of the globe. The stories of Korean global companies such as Samsung, Hyundai, and LG are featured by the global media like Time, Bloomberg Businessweek, and Fortune. The stories of their leaders are also in big demand in such magazines. In addition to the big companies or brands, even some small and medium-sized ones are impressing markets around the world. MAMA, Nongshim ShinRamyun, MIDAS IT, Sulwhasoo are establishing their leadership in each category of the global market. The recent Korean surge is not limited to the commercial field. K-pop and “Hallyu” (Korean Wave), such as Psy, 2NE1, Girls’ Generation and Super Junior, are hitting the major cities of the Western world such as Paris, London, and New York. Also, Seoul as a city brand has become one of the most attractive cultural places that people want to visit. Bibimbap (a traditional Korean dish) brands, such as Jeonju Bibimbap, CJ Bibigo, and Han’s Bibimbap, have expanded their popularity to major cities across the world. All these Korean brands have marveled global audiences with much power and energy. Many people would like to know how such Korean companies and cultural brands, which were not appreciated this much five to ten years ago, became incredibly successful in such a short period of time. The success stories of Korean brands are like mysteries. Not only people outside of the country but also Korea’s own people, especially the young, wonder how Korean companies and brands achieved this miraculous performance. They often ask how the companies turned their discouraging backgrounds or humble starts into such a great success. Fortunately, the research institution, KIMF, was established at the right time to encourage research focusing on the details of how Korean brands have been so successful. The ultimate purpose of KIMF is to generate the top quality of management knowledge not just for helping sales and increasing profits, but more importantly for touching the hearts of people, especially the young people who are in preparation for their businesses and careers. We realize that the best way to learn is by exposing ourselves to the best cases and examples. We thus opened a case competition for college students at the national level where students could choose any case, whether a company, brand, or leader. Hundreds of students participated and challenged themselves in the first national level competition of its kind. The 1st and the 2nd competition events held in 2011 and 2013 respectively were all very successful. In the 1st event, for example, about 70 teams applied representing most major colleges and universities in Korea, and a very interesting thing happened; the news about the competition spread overseas. The excited students had called their friends who were studying abroad to team up together to compete for the prize. As a result, our competition went beyond the national level to the global level. Among others, students represented Northwestern, Emory, and Cornell in the USA, UBC, Queen’s University, York University in Canada, Keio University in Japan and Peking University in China. The top 10 cases were chosen among more than 70 applications in each competition. They were chosen not according to the value or reputation of the brands, but according to the quality of contents and the team’s presentation. The clearer a case highlights how the company or brand overcame difficulties and crises and soared up high, the higher the quality and presentations were. The cases were reviewed by the evaluation committee, which represented both academics and practitioners. We would like to give special thanks to Professor Yi You-jae of Seoul National University, Professor Lee Moon-kyu of Yonsei University, Mr. Kim Young-dong of KBS, and Mr. Chang Young-chin of Cheil Worldwide, who willingly took the time to evaluate and give valuable comments for the participating young minds. The fir…
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CONTENTS Contributors, the Winners of the Competition vii Preface: Introduction and Editors’ Note ix Keynote Paper Searching for the Korean Ways of Making a Dent in the Universe II: 3 Analysis of Top Winning Korean Brands. The Top 10 Winning Korean Cases from the Case Competition Samsung Galaxy, a smartphone brand 15 Seoul, the capital of the Republic of Korea 51 Hyundai Heavy Industries, a shipbuilding company 85 CJ O Shopping, a home shopping company 119 KT, a telecommunication service company 147 Nongshim Shin Ramyun, a spicy instant noodle brand 167 MAMA, a music awards show 205 Sulwhasoo, a cosmetic brand 233 Bibimbap, a signature Korean dish 277 MIDAS IT, an engineering software development company 303 The Other Winning Cases 323 Appendix The Winners of the Competition, team by team 339 The Top10 Selected Brands, Companies and Leaders 341 The 100 Eagle Members 343 About KIMF and the Case Competition 347 About the Editors 349
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