Amazon Expansion to the South Korean Market
The South Korean market is the fourth largest economy in Asia and the 11th largest in the
globe. As a mixed economy, this market is dominated by the family owned-conglomerates. South
Korea is recognized for its spectacular rise from one of the poorest countries to one of highdeveloped and high income country in Asia. In 2018, President Moon Jae-in announced a fresh set
of measures that will ensure a boost in the country’s economic growth and creation of employment
opportunities by offering financial support for the smaller companies. As this country’s market is
growing, Amazon.com had an opportunity to invest and improve the level of its performance.
Current global economic conditions and their effects on macroeconomic indicators in your
In 2017, President Moon Jae brought in a surge in consumer confidence following the
successful effort to increase the government expenditure and wages (Jung-a 2018). As of 2017,
the Gross Domestic Product (G.D.P) was $ 1,540/46 billion with a growth rate of 3/1% from 2016.
The forecasted G.D.P, according to statistica, is $1,655.61 billion. The country’s population as of
July 2018 was 51.4 billion, with a growth rate of 0.44%.Ideally, the forecasted population of 2019
is 51.66 billion. South Korea’s G.D.P per capita as of 2017 was $39,500 billion and the forecasted
amount of 2018 is $38,200 billion. The total export of commodities in South Korea is currently
floating at $577.4 billion and is projected to be $549.43933 billion as of 2018. The South Korean
economy is growing and is extensively advancing over the years. Essentially, the rise in the G.D.P
in the country makes it easier to attract both local and foreign investors. The forecasts provided by
statistica indicate a possible increase in the development of the nation’s economy. In addition , the
growing population is essential in the creation on a large consumer based and development of a
skilled and reliable labor work force. The country’s current retail sales trade at $40, 682 million
and is expected to rise of $45,365 million in 2018. With such a structure, Amazon.com can take a
chance to enter the market for its improvement.
South Korea has the seventh largest e-commerce market across the globe. Essentially, it is