Giving Business Education a Global Twist
Top 10 Countries Betting on Solar Power

Korean Businesses Thrive in 'Chindia' Through Localization

Korean companies have been able to enter the China and India markets thanks to a simple localization strategy. Basically, the lesson is "listen to the local market needs, and the returns could be relevant".


The world is raving over China and India, which are increasingly referred to as "Chindia." There seems to be ceaseless admiration for the two nations as China has achieved some 10 percent economic growth over the past several years while India's economy has grown at an annual average rate of 9 percent over the last three years. Even during the recent global economic crisis China's economy grew 6.5 percent and India's 6.7 percent. Together the two countries have about 2.5 billion people, or 40 percent of the world's population.

Korean businesses are doing well in Chindia, primarily because of efforts to localize. With advanced technologies they are already well-known for, Korean companies have made sure that their products cater to the lifestyle needs of local consumers.

Indian Prime Minister Manmohan Singh, left and Chinese Premier Wen Jiabao react at a press briefing after a signing ceremony held at the Great Hall of the People in Beijing Monday, Jan. 14, 2008. (AP Photo/Ng Han Guan, Pool)


Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name is required. Email address will not be displayed with the comment.)