Running Head: Feasibility Study.
Park Place Hotels MIS Project
MBA 2000 – Cohort Team Three
Mark Carey, Tim Swanson, Sherri Nelson, Sherri Thomas
City University, Tacoma WA
March 20, 1999
STRATEGIC NETWORKING, INC.
Park Place Hotels, Ltd. –
Installation of a Hotel Management
Information System
March 20, 1999
Internal Feasibility Report
Number SNI-FS-990320
STRATEGIC NETWORK, INC.
Park Place Hotels, Ltd. –
Installation of a Management Information System
March 20, 1999
Research Team
Mark Carey
Sherri Nelson
Tim Swanson
Sherri Thomas
Internal Feasibility Report
Number SNI-FS-990320
Read and Approved:
_____________________________________________ _________________
Jonathan Edwards, CEO Date
EXECUTIVE SUMMARY
SNI has been sought out to implement a Management Information System for Park Place Hotels in South Korea. The MIS project, part of a hotel management system, will be an integral part of positioning Park Place Hotels as a world class facility appealing to affluent business travelers.
We have researched the project with respect to technical requirements and cultural risks of conducting business in South Korea. SNI has successful, relevant experience in developing and installing a similar system for Comfort Suites in Texas eighteen months ago. Based on this experience and the close parallel in system requirements, we believe SNI possesses the technical expertise to be successful. The project is expected to generate $1.28 million in revenue.
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Doing business in a foreign country will be new to SNI. South Korea is an excellent place for this expansion of our market. “Korea, with its abundant skilled workforce, well-developed social infrastructure, and large domestic market…will create an environment in which business can prosper” (American Chamber of Commerce in Korea, 1998).
We have explored the extensive research available on Korean culture and protocol and believe that with proper preparation our technicians and managers will succeed in building successful working relationships.
We believe this project presents a unique opportunity for SNI to expand its market and will likely result in additional opportunities in Korea and potentially other countries. We recommend a team be assigned to negotiate an agreement with Park Place Hotels for the development, installation, training, and maintenance of their Hotel Management System.
TABLE OF CONTENTS
Page
I. Introduction 6
II. Method and Criteria 6
Sources of information 6
Project elements 6
Technical 6
Cultural 6
III. Evaluation and Analysis 7
About SNI 7
Mission Statement and Vision 7
Organizational Chart 7
Strategic Business Plan 8
Management Strategy 8
Project Description and Purpose (Goal) 8
Overview 8
Current Situation and Project Objective 9
Proposed System 10
Software Hardware, Manpower Resources Required 10
Financial Breakdown and Implications 11
Critical Success Factors 12
Design, Training, and Implementation 12
Anticipated Difficulties in Development and Implementation 12
Cultural Success Factors 13
Overview 13
Language, Education, and Work Ethic 14
Legal and Financial Issues 15
Social and Ethical Issues 16
Korean Business Practices 17
Customs and Protocols 18
IV. Conclusions and Recommendations 20
V. Annotated Bibliography 22
VI. Appendix
A. Capabilities of LMS PRO 1.4 24
B. Financial Breakdown of Park Place Hotel Project 26
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C. Gantt Chart 27
I. INTRODUCTION
Strategic Networking, Inc. (SNI) is an innovative information services and business solutions company. This feasibility study explores the advantages, disadvantages, and critical success factors in expanding our reach beyond the borders of the United States into the global marketplace. Specifically, SNI was approached to implement a Management Information System for a hotel chain in South Korea. Remarkably, the project is nearly identical to the Comfort Suites Project SNI completed eighteen months ago in Dallas, TX. Our success and reputation resulting from that project came to the attention of our potential Korean partners. Does SNI have the capability and available resources to implement this project? Absolutely!
This paper explores the financial benefits and risks associated with conducting business in Korea. Extensive research was conducted concerning the cultural, political, and social environment in Korea. It is our belief that the financial rewards of this project outweigh the numerous challenges we will face.
II. METHOD AND CRITERIA
Sources of Information
Information in this paper should be considered extremely reliable. It is based on extensive research on American/Korean business practices conducted through the U. S. Department of State, U.S. Embassy, Seoul, Korea, U.S. Department of Commerce, Korea-U.S. Committee on Business Cooperation (CBC), Korean American Chamber of Commerce, Central Intelligence Agency, area Korean business leaders, as well as traditional library and internet sources.
Project Elements
There are two elements to this feasibility study:
1. Technical – Does SNI have the software, hardware, manpower, and training assets available to successfully implement the project?
2. Cultural – The cultural “risks” associated with this project are immense. We will assess political, legal, ethical, and social issues and how they may impact the project.
III. EVALUATION AND ANALYSIS
About SNI
Mission Statement and Vision
SNI is an innovative information services and business solutions company. SNI helps companies become more productive. SNI helps create new business lines and enter new markets. SNI delivers services and solutions focused on each client’s needs, with particular emphasis on helping clients more effectively serve their customers. SNI integrates three core disciplines in providing solutions and services to its clients: business integration, systems integration and applications development, and information technology infrastructure services.
The Essay on Business Decision Making Project 3
Based on the discussion with my learning team of the milk plant business problem, there is a variety of different products that are output from the plant. The amount of product that is produced everyday varies on what they are processing on that given day. The products that are produced are varieties of different milk, half and half, and manufacturing cream. In order to determine how to solve this ...
Strategic Networking, Inc. Organizational Chart
Figure 1.
Strategic Business Plan
SNI’s business strategy is controlled growth through selective partnering. SNI believes that quality vs. quantity at an affordable price will separate SNI from other, larger MIS consulting firms. While numerous opportunities exist domestically, SNI has recognized the value of the Internet and the growing global economy. SNI participates in numerous international trade shows in order to develop business contacts.
Management Strategy
At SNI, people are our most valuable assets. SNI LISTENS attentively to our customers. Every member of our team, including our CEO, is available 24 hours a day, seven days a week, to go anywhere, anytime, to SERVE OUR CUSTOMERS. Strategic Networking, Inc.…
· LEADS by example
· Understands that today’s business problems require a MULTI-DISCIPLINARY approach to finding the best solutions.
· Will not accept a project that we can not deliver the EXPECTED RESULTS at the EXPECTED TIME.
Project Description and Purpose (Goal)
Overview
SNI was introduced to Mr. Park Chon He at the annual Hospitality Industry Technology Show in Los Angeles, CA in December 1998. Park Chon He is the son of Mr. Park Soon Lee, founder and owner of Park Place Hotels, Inc. of Seoul, Korea. Park Place Hotels, Ltd. is an upscale, family owned, super-deluxe hotel chain in South Korea. The chain consists of three properties located in Seoul, Puson, and Inchon. The 69-year-old family patriarch heads the business with Mr. Park’s three son’s co-managing the properties. The hotel chain caters to the affluent business traveler. Each hotel is ideally located in major business districts. The younger Park Chon He believes that a competitive advantage can be achieved through the use of information technology by enhancing their ability to deal with competitive hotel chains penetrating their marketplace. He believes that their long-term strategic success ultimately depends on how well Park Hotels executes their primary mission of delivering the lowest cost, highest quality travel experience to their business customers. Park Chon He has gained the confidence of his father to save the ailing family business and has been tasked to modernize the family hotel chain.
The Term Paper on Business Project – Executive summary
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Current Situation and Project Objective
Foreign hotel chains such as Hyatt and Hilton are encroaching on Park Place Hotel’s established client base. Business travelers from the United States, Europe, and other Asian countries are accustomed to business amenities such as secretarial, translation and interpretation services, telecommunications, in-room Internet access, business services, and sophisticated reservation systems. Traditional Korean “ambiance”, the hallmark of Park Place Hotels, is not enough to attract critical (and profitable) business meetings and conventions. Bookings are down 22% from a year ago. This is a hotel chain in trouble.
Hotels in Korea are classified into five groups: super-deluxe, deluxe, first class, second class, and third class. In order for Park Place Hotels to compete in the profitable super deluxe (business) segment, they must modernize their information systems capabilities to meet the needs of their business customers. If they slide down the “quality scale”, their profitability and future existence will be impacted. Mr. Park Chon He is the change agent for this modernization. His goal is to turn Park Place Hotels into a world class hotel chain by computerizing their guest management system, modernizing their telecommunications capabilities, and increasing awareness of his facilities via the World Wide Web. SNI’s objective would be to develop and install the guest management system and Internet portal.
Proposed System
Software, Hardware, Manpower Resources Required
The software program selected for the project is an off the shelf program called LMS PRO 1.4. manufactured by Inter-America Company. LMS includes the following functions. (See Appendix A. for details).
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* Reservations * Registration * Charge Posting
* Guest Services * Guest Settlement * Housekeeping
* Travel Agency Accounting * Telephone Service * Package Plans
* Night Audits *Management Reporting * Guest History
SNI installed the LMS PRO 1.4 software in a large hotel chain headquartered in Dallas, TX eighteen months ago. Our experience with its capabilities offers SNI a huge competitive advantage. Mr. Park Chon He, hearing of our reputation, sought SNI out at the Hospitality Industry Technology Show.
We recommend using the IBM AS 400 running NT Network. The Dallas project continues to run smoothly using this hardware. However, since Koreans use 220 volts as their power source, converters with power stabilizers to ensure the computer doesn’t see power bumps will also be required.
Our on site Korea team will consist of four programmers and one project manager from SNI. A local, Korean programmer and interpreter will be hired to supplement our work team. Two Internet programmers and one lead project manager will be utilized domestically.
Financial Breakdown and Implications
Project cost breakdown is as follows: (See Appendix B. for detailed breakout)
Chart 1. Total Project Revenues
Chart 2. Source of Revenue as % of Total Project
Critical Success Factors
Design, Training, and Implementation
The actual design of the system is fairly straightforward. LMS PRO 1.4 is a proven software program that we have experience implementing. Even though Mr. Park Chon He is the change agent for this project, his father exerts considerable influence on the project. It is critical Mr. Park Soon Lee be involved in all phases of the project.
We recommend doubling the normal planning and design phase of the project in order to ensure:
· An adequate role of user in the implementation process
· Complete management support for the implementation effort
· Increased user involvement in the design and operation of the hotel information system.
Involving users in development offers opportunities to design the system according to their priorities and business requirements. They are more likely to respond positively because they have been actively involved.
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Cultural differences between SNI and the client need to be considered in the analysis, design, programming, testing, and conversion phases of the implementation.
Anticipated Difficulties in Development and Implementation
The following issues summarize the anticipated difficulties in development and implementation of the Park Place Hotel MIS system:
· Implementation team must include Korean representatives, preferably support personnel and end users.
· LMS PRO 1.4 is an off-the-shelf program. We must build flexibility into the program to anticipate future needs of the organization.
· Time and money required for software development is often underestimated.
· Time and money required for proper testing is often underestimated.
· Users must be significantly involved in testing.
· Training must be completed prior to conversion.
· To compensate for cost overruns and delays, we should factor in an additional 25% in man months.
· Performance and training standards must be established with proper documentation written in both English and Korean.
· Provisions for system maintenance after our three-year service agreement must be established.
It is clear that SNI has the capability to implement such a project in the United States. Our performance at Comfort Suites, a much larger project in scope, demonstrates this. Our biggest challenge with Park Place Hotels is the Cultural Success Factors that we must adapt to.
Cultural Success Factors
Country Overview
No foreign business enterprise can hope for success in Korea without a thorough understanding of the people. The Republic of Korea, better known as South Korea, or “Land of the Morning Calm”, has a rich history spanning over 5,000 years. Today, Korea is an important trading partner for the United States. Korea’s population of forty-five million people inhabits an area slightly larger than Indiana.
“As one of the Four Dragons of East Asia, South Korea has achieved an incredible record of growth. Three decades ago its GDP [Gross Domestic Product] per capita was comparable with levels in the poorer countries of Africa and Asia. Today, its GDP is already up with the lesser economies of the European Union. This success through the late 1980s was achieved by a system of close government business ties, including directed credit, import restrictions, sponsorship of specific industries, and a strong labor effort. The government promoted the import of raw materials
and technology at the expense of consumer goods and encouraged savings and investment over consumption. The Asian financial crisis of 1997/98 exposed certain longstanding weaknesses in South Korea’s development model, including high debt/equity ratios, massive foreign borrowing, and an undisciplined financial sector. Also, a number of private sector conglomerates are near bankruptcy. At yearend 1997, an international effort, spearheaded by the IMF, was underway to shore up reserves and stabilize the economy. Growth in 1998 was sharply cut. Long-term growth will depend on how successfully South Korea implements planned economic reforms that would bolster the financial sector, improve corporate management, and open the economy further to foreign participation” (CIA World Fact Book, 1999).
Language, Education and Work Ethic
Korean is the spoken language in South Korea and Hangul the written language. English is widely taught in Junior High and High School. Korea enjoys a 98% literacy rate (CIA, 1999).
“Most Korean professionals speak English, and most meetings can be conducted in English without an interpreter. Generally speaking, catalogs, promotional literature, and instructional material are acceptable in English. Don’t take it for granted that those who speak English will understand everything you say. If a statement is met with silence, it may mean that you were not understood” (Van Horn, 1989 page 211-212).
Koreans have a very strong work ethic, working, on the average, over 54.7 hours per week. “It has been said that the Koreans are the only people in the world who can make the Japanese look lazy” (Van Horn, page 211).
Because we will be working with the hotel service industry, we expect few language barriers requiring the use of interpreters on site. However, tight social and business inner circles make it extremely difficult to enter the Korean market without a qualified Korean representative. “Local representation is essential for foreign firms hoping to be successful in the Korean market” (Dept. of State Country Commercial Guide – FY 99).
We will be required to appoint a registered agent in order to handle government import paperwork. Their commission rate of 7-10% has been factored into the overall project costs.
Legal and Financial Issues
Legal advice in setting up our contract is strongly recommended. “Though Americans may regard a written contract as legally binding, a Korean may regard the same contract as a ‘gentlemen’s agreement’ which is subject to further negotiations dependent upon new circumstances (Dept. of State).” “If a contract is violated in Korea, the legal procedures in Korea can be lengthy, cumbersome and expensive (Dept of State).” We must extensively research our mutual requirements, understandings, and responsibilities, record it on paper, and be prepared to modify the meanings of the terms afterwards. The estimated cost of legal representation is $20,000.
The Park Place Hotel project will exceed $1.28 million and is financially attractive to SNI. SNI, of course, must ensure payment. The continuing slowdown of the Korean economy, increasing deficit, and falling won add to Korea’s economic difficulties which makes Korean banks hesitant to extend credit for businesses. “U.S. companies should consider dealing only on a confirmed letter of credit basis with new and even familiar clientele. A confirmed l/c [letter of credit] through a U.S. bank is recommended because it prevents unwanted changes of the original l/c, and it shifts responsibility for collection onto the familiar banks involved, rather than onto the seller” (Dept. of State).
Bank of America, SNI’s current bank, has a branch in Seoul and has agreed to handle the letter of credit for a modest fee of $5,000.
Social and Ethical Issues
The Korean culture is over 5000 years old. Modern societal values remain firmly rooted in the values of Confucianism. Confucianism is not a religion, but a philosophy of social conduct, that originated in ancient China. In many respects, the Korean people base many of their decisions on emotion, ethical social relationships, and the three qualities – love of humanity, sensitivity for feelings and justice for society rather than on sound business sense or reason” (Fordham).
“Koreans have a great respect for the family and hierarchy, and for anyone senior in age. They will intuitively establish their hierarchical position relative to others based on age and social position” (Business America, 1997).
There are defined familial roles in Korea. “In the majority of Korean households, the father is the primary bread winner, while the mother stays at home. The majority of working women, many with top university degrees, are still relegated in Korean companies to secretarial jobs, assembly work positions, or educational work” (Dept. of State, 1999).
The eldest male of a family would be the patriarch and is revered and respected as an elder of the family. Even while a Korean is dealing with non-Korean cultures it is preferable that there be a correlation between the Korean and non-Korean representative on the hierarchical totem.
The belief system used in personal and business relationships dictates that respect and dignity be shown in all circumstances. An unwritten code of behavior exists in both informal and formal settings. Koreans are excessively hospitable people and will treat visitors with the utmost deference and kindness. Their politeness does not mean that you have won their trust and loyalty, or that you are a particularly important individual. It only means that you are also required to be polite in a similar manner.
It is important to remember that the Korean Culture, and the Korean people, are a homogeneous society with strong ties to their families and country. Whereas Americans may think in individual terms – ‘What is in my best interest?’ Koreans often think in group terms – ‘what is in the best interest of the group?’ Koreans tend to do what is good for the country rather than for themselves. Setting up a system that benefits the owners without defining benefits to the country may be difficult.
Older Koreans have a difficult time understanding the concept seeing the benefits the Internet and Intranet. This will be an important consideration when communicating with Mr. Park Soon Lee.
Korean Business Practices
Americans should be ready to mix business with pleasure as the Koreans base their business relationships on personal ones. “The heavy drinking of the Korean alcohol, Soju, beer, or other liquor is commonplace in establishing a personal, business relationship” (Dept of State, 1999).
If one does not wish to consume alcohol it is advisable to attribute the decision to a medical condition or a conflict with medication. Koreans will understand and be sympathetic. “Also commonplace is the ‘no-ray-bang’ where a group of businesspeople go to an establishment to drink and sing along to a video machine playing music. As most no-ray-bang machines come equipped with songs in English, a businessperson may want to be prepared to sing at least one song in order to gain social favor with their Korean counterpart” (Dept of State, 1999).
The exchange of business cards is a very important means by which Koreans learn about the name, position and status of the other person. Koreans observe a very strict hierarchical code and will generally meet to discuss business with persons of the same or parallel rank. Businesspersons should always have their business card ready (preferably bilingual) and should treat the exchange of Korean counterpart’s card with respect. It is a sign of respect to receive and present items with both hands, followed by passing and receiving a card with the right hand. One should never give a card, or anything else for that matter, with the left hand as it shows disrespect (Dept of State, 1999).
A man generally receives more respect and affinity in the business world than a woman, though foreign businesswomen (especially, non-Asian looking women) are accorded almost an equal amount of respect as foreign businessmen. Single women generally receive less respect than married women whose ties to their husband oftentimes establish their position in society. The American businessperson, as a foreigner, is generally exempt from the above societal classification system, though one should be prepared to answer what may be regarded as personal, such as questions of age, marital status, religion, and education. An American businesswoman will most likely not be included in business dinners.
“Kibun places harmony and maintenance of good feelings as the highest order in any relationship. Your counterpart may always appear to be good-natured and friendly and will exert their full efforts in avoiding saying no or delivering bad news. As such, the foreign businessperson must learn to read between the lines or interpret hints of the slightest business difficulties. Indeed, a ‘yes’ or nod of the head may mean ‘maybe’ or ‘I understand.” A ‘maybe’ usually means ‘no’ while a negative response is sometimes indicated by a squint of the eyes or by tipping the head back while drawing air in through the teeth and waiting for you to speak again.” (Fordham)
Customs and Protocols
A Korean has a family name and one given name. Traditionally, the given name has two parts. Koreans normally write their family name first, however, they may reverse the order when dealing with Westerners. Although women do not change their name on marriage, Mr. Park may refer to his wife as “Mrs. Park” to avoid confusing Westerners.
There is no general equivalent of “Mr.” Various respectful titles are used in the Korean language, which do not get translated into English. The English word “Mr.” is used in Korean only to address social inferiors, but there is no objection to foreigners using it as a term of respect in English correspondence. It will be important to be sensitive to this particularly when dealing with the elder Park. Among themselves, Korean business people are more likely to address each other by job title. We should plan to have our people follow this protocol while in Korea.
Greetings and thank-yous are very important to Koreans. Words of greeting and thanks always are said with a bow of the head. The depth of the bow required depends upon the relative seniority of the two speakers. Koreans generally limit direct physical contact to no more than a courteous handshake. “Koreans tend to avoid too much eye contact and consider it bad manners to look straight into another’s eyes while conversing” (Hoare, 1996).
“Avoid the following topics in your conversation: Japan, local politics, socialism, communism, and your host’s wife. Among good conversational topics include Korean cultural heritage, kites, sports (especially the Olympics), and the health of their family (do not talk about their families unless these have something to do with their health).
Always be modest about your position and your accomplishments” (Fordham).
Koreans traditionally sit, eat and sleep on the floor, so shoes are always removed when entering a Korean home. It is impolite to talk much or blow your nose during a meal. Food is placed on the table all at once. Food need not be consumed in any order. Rice and soup are eaten with a spoon while other dishes are eaten with chopsticks. Chopsticks should not be left sticking in the food. Koreans always wait to begin eating until the eldest person begins and wait to leave the table until the eldest is finished. (Korea Travel Manual, 1995) When dining out, Korean customs allow for either party to be the host or the guest but “Dutch treat” is not practiced.
IV. CONCLUSIONS AND RECOMMENDATIONS
SNI has the technical capability and available resources to implement the LMS PRO 1.4 Hotel Management System at Park Place Hotels in South Korea. Our success at Comfort Suites demonstrates our ability to develop, design, implement, train, and maintain such a system.
The Korean project represents a significant source of revenue for SNI exceeding $1.28 million over four years. A letter of credit from the Seoul branch of our current banker, Bank of America, will ensure that SNI is paid according to our contract. The economic unrest in Korea would prohibit implementing the system without the assurances of guaranteed payment.
SNI’s biggest obstacle will be understanding and functioning under different cultural expectations. Since two of the four SNI programmers going to Korea will be women, we must be sensitive to their needs and well being. Our staff must dress in business attire (we recommend a $1,000 clothing allowance for each team member) and be willing to conduct business in a social environment that involves heavy drinking and “karoke style” singing. Business and social skills, too numerous to mention in this report, must be learned and adhered to in order to ensure a successful outcome. We recommend that all SNI personnel going to Korea attend a two day “finishing school” sponsored by Barlitz Language School. SNI personnel are limited to stay only 90 consecutive days on a business/ tourist visa and must be rotated.
The greatest risk to SNI is the political instability caused by aggressive North Korean leadership resulting from food shortages and starvation in the North. The South Korean government has made significant strides in reducing political corruption prevalent in the 80’s. The Korean government has the full backing of the American government so the risks, although present, should be minimal.
We believe this project presents a unique opportunity for SNI to expand its global presence and will likely result in additional opportunities in Korea and potentially other countries. For this reason, SNI should proceed with negotiating an agreement with Park Place Hotels for the development, installation, training, and maintenance of their Hotel Management System.
APPENDIX A.
CAPABILITIES OF LMS PRO 1.4
Reservations – The reservation system allows easy booking and inventory management for individuals and groups. Room numbers and the type of suite and their availability are readily accessible. Run of the house inventory and overbooking controls are easy to use and understand and provide safeguards from embarrassing mix-ups.
Registration – At registration an entire group or convention can be registered with a single command key saving individual members of the group as well as the hotel large amounts of time. Individual registration within the group is also provided. The system allows access to the data base by individual or company name, or arrival date. Application of advance deposits is automatic and posts directly to the bill on registration.
Charge Posting – Daily charges are posted to each room account for individuals or to a single account as an option for groups and conventions. All charges are transferred to the company ledger automatically with references that track back to the reservation and registration information.
Guest Services – Special requests for service can be entered at the registration or reservation screen allowing the earliest recording of special customer needs. Wake-up calls are automated from the quests room or can be entered from the registration desk.
Guest Settlement – The system allows for inquiry and posting by group or individual. Group check out like group check in provides for an efficient timesaving alternative. All major credit cards and after event billing in addition to cash and checks are provided as options for settlement.
Housekeeping – Room status alerts the maid staff of unusual requests or scheduling needs. On check out, housekeeping is alerted that the room is ready for service.
Travel agency accounting – The reservation system can be set to allow travel agencies to search for available rooms. Access can be global.
Telephone service – An automated telephone service allows callers from outside and inside the hotel to access a data base which will connect the caller to the guest by name. Voice mail as an option for quests. Each room will be configured for internet access.
Package plans – Bundled services including lodging and other travel options can be recorded into the system with automatic posting to the general ledger. Special features are noted on the screen at check in and vouchers for tickets, car rentals and other options can be mailed with the confirmation of lodging.
Night audits – No shutdown is required for night audits. Charges and corrections are posted automatically to the financial system.
Hotel management reporting – Numerous created reports are available on request. A report writer is also included to allow for customized reporting options.
Guest history – Special requests and account history is maintained by individual and group. This allows special needs and desires to be anticipated with repeat customers. Frequent customers can be coded with special considerations. Demographic reporting is provided as an option to assist in marketing the hotel and in meeting the needs of its customers.
APPENDIX B.
FINANCIAL BREAKDOWN OF PARK PLACE HOTEL PROJECT
APPENDIX C.
GANDT CHART
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7-8.
The Korean business community has acquired many western traits, however, they are still very much steeped in traditional ways and a businessperson doing business with a Korean company would do well to follow the simple suggestions outlined in this article to further understand the Korean business culture.
United States Department of State Country Commercial Guide – Korea FY 99 (February 10, 1999).
[On-line], Available: http://www.state.gov/www/about_state/business/com_guides/1999/eastasia/korea99.html
Prepared by the U.S. Embassy in Seoul, Korea, this government document is a complete and up to date resource for conducting business in Korea.
Van Horn, M. (1989).
Pacific rim trade. New York: American Management Assoc.
This practical book is written by an author who has hands on experience setting up Pacific Rim trade. All aspects of marketing, manufacturing, and investing are covered.
The world fact book. (February 28, 1999) [On-line], Available: http://www.odci.gov/cia/publications/factbook/country.html
This Central Intelligence Agency web site covers geography, people, government, economy, communications, transportation, and military issues of South Korea.
Woo Gon Kim, Hyan Ju Shin and Kye-Sung Chon. (February 1998).
Korea’s lodging industry: problems, profitability and regulations. Cornell Hotel & Restaurant Administration Quarterly, v39. 60-68.
This study discusses the Korean hotel industry’s significant issues including room supply, complications of regulation, and hindrances to expansion.
