Korea has for years exporting to the world’s demands. Creating a roaring nation increasingly known for its innovation across a variety range of industry. They had indeed moved up along the values chains steadily and has gone through a truly astonishing transformation, a promising start not unlike the legacy of strong American dominance globally where made or rather designed in USA carries prominent prestige and acceptance.
Korean breakneck growth and the legendary rampant patriotic Korean is at all time high on both the hard and soft influences on the global stage despite initial anxiety that China is about to be upstaged as a gateway to the global economy, although It’s not possible to quantify Korean’s patriotic or one willingness to do their parts for their country except by judging from one’s consistent behaviors, evidences of their loyalty to “Made In Korea” was in ample evidences; complimenting anything remotely relating to Korean , like movies, automobiles and electronics to a typical Korean, they will receive them humbly and proudly as if the whole Korean nation was being given a pat on the back and they were deeply honored.
On the other hand, strong nationalism as a natural trait of a homogeneous non inclusive society had kept Korean consumer practically practice self sanctioning acts of going for local beef products despite of higher price when given a choice at grocery stores and restaurant both domestically as well as in oversea while initially many fear the inevitable WTO mandated rising influx of US beef into Korea may put local beef producers in disadvantageous position. In addition, most Korean corporations Chaebol runs like highly efficient militarized units drawing from the commanding system inherent from compulsory national services where Korean boys go through the rite of passage.
Although others has been striving to conquer Korean market but most were still caught off-guard by the ballooning pride of local Korean who exclusively support Korean brands out of their built-in patriotism. Unlike Japanese, International trading languages such as English and Chinese were embraced wholeheartedly as 2nd language skill-set by college student in their third and final year. For decades, Ministry of culture blatantly mandated local contents in their local public media in a bid to promote Korean soft cultures and there are ample signs that this had proven working with wide adoption of Korean products and services.
While road map to build a strong nation often draws mixed results and Korean is not without the drawback of a typical competitive society with obsessive behavior on education for securing a better prospect where excessive tuition lessons was not uncommon. Flights plans was diverted and traffic was cleared for thousands of high school students taking the annual pilgrim of university entrance examination all setting their goals to get admission to the prestigious top 3 University to secure decent job opportunities upon graduation in the prominent corporations like Samsung and LG where promising career prospects will be more or less guaranteed.
In summary, trade deficits can also added to the degradation of business environment as It could fuel very deep imbalances among nations. Soft influences bundled with hard core technological innovative advancement could be one of the most important source of sustained economic values in the wider horizon and while Korean struggles to make inroads in a sectors dominated by US, Innovation and creativity are part of the Korean culture which distinguish itself from others, instead of becoming the world manufacturer like China which started seeing signs of long term unsustainability, Korean had reinvented itself with the best of both worlds; manufacturing excellency of China combining with technological innovative hands-on approach from US and Japan and backed by 50 million patriotic Koreans, they had indeed done a fine job.