"Korean Companies Have Stormed"

“Such as LG, Samsung and Hyundai, Korean three large companies have accelerated the advance into China market announcing the large investment plan on the Chinese market.”, reported the People’s Daily, China on July 24.

This newspaper reported, “ LG Group announced the construction plan of the China head office building in Beijing investing USD 0.4 billion in May. Also, Samsung Group will establish the factory 2 in the industrial complex in Suzhou, China. Korean large companies have concentrated on the investment with WTO registration of China”.

“Hyundai Group also agreed upon the joint production of air-conditioner with Jigao Group of Guangzhou, and so has hastened to advance into the Chinese market of electric home appliances”, reported the newspaper. The newspaper reported, “Samsung Group, investing USD 2.2 billion to China, has concentrated on the improvement of branch image through active media advertisement in China. Within 3~4 years from now on, China will be the best foreign investment place of Samsung Group.” The People’s Daily evaluated “US, Japan and Europe have resigned over the Chinese market so far. However, the conditions of Korea have been expended steadily. Especially, individual companies of Korea have outrun the companies of other countries in the investment.”

yswhang@donga.com