Local representation is essential for foreign firms hoping to be successful in the Korean market in which business relationships are built upon personal ties and valuable introductions. Selecting the appropriate partner is one of the most difficult and crucial aspects of initiating a joint venture in South Korea. On the one hand, the large South Korean conglomerate, chaebols, still exercise considerable influence over the South Korean government and financial institutions. On the other hand, the South Korean government's attempt at a policy shift toward the support of small and medium-sized businesses means that the participation of chaebols in a joint venture could create additional obstacles in terms of obtaining necessary approvals and local financing.

As the result of the supervision of a proactive governmen

Some common words found in the essay are:
South Korea, East Asia, South Korean, United States', Korea Indiana, Emerging Markets, Korean War, Christianity Buddhism, south korea, south korean, , Yellow Sea, economic growth past, hand south, growth past, economic growth, service franchise, gdp growth, hand south korean, joint venture,
Approximate Word count = 552
Approximate Pages = 2 (250 words per page double spaced)