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The business environments of Korea and California

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Frame of Image nments of Korean and California is the level of friendliness to investors. The business system in Korea is rela t i v e l y shorter term and more administrative focused, while that of California is longer term and more business focused.
1. Introduction
According to the Korea Chamber of Commerce and Industry, the ratio of foreign direct investment to the gross domestic products of Korea was 0.23%, which is the lowest in OECD countries in 2007. It is the current address of the business environments of Korea to not only foreign investors but also domestic investors. Worldbank released the Doing Business 2009 that tells Korea was ranked at 12th position (See Table1). Enforcing contracts, Trading across border, Closing a busi-
ness, and Getting credits are evaluated well, while Starting a business and Employing Workers are supposed to be improved. Therefore, the new Korean government has made efforts to deregulate unnecessary procedures and to build efficient administrative systems for entrepreneurs, which is believed that could make Korea more competitive in the global economy. It is not easy for a potential investor to find information regarding business such as where to register a business, what procedures to follow for opening a business, and what kind of incentives to apply in Korea. Unfortunately, calling a local government or browsing a government web site are not all that helpful to even domestic investors. Information is likely sparse in various administrative departments


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Title The business environments of Korea and California
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Material Type Reports
Author(English)

Kim, Dongsoo

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2008
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 13(no. 5)
Pages 9
Subject Country United States(Americas)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding KIET; KDI School

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