Marketing of University of Wollongong in South Korea Research Paper

Marketing of University of Wollongong in South Korea - Research Paper Example The report tries to analyze the different aspects of launching this new service and to study the market elements to identify the feasibility and the success possibility. Also, the report is trying to analyze the socio-cultural environment of South Korea to understand the market size and the current opportunities. A multiplicity of marketing strategies of the country need to be studied and the resultant changes in legal policies need to be identified. The country overview of this report is meant to understand the historical development, the geographic and demographic overview, government structure and economic strategies. Also, the marketing feasibility plans is based on the marketing mix, and Hofstede’s cultural dimensions. South Korea is Asia’s one of the most affluent nations. It was a part of unified Korea until 1948. But after 1948 the two countries separated to be named as South Korea and North Korea. North Korea, a communist nation fell into the trap of totalitarianism and also poverty. The two Koreas went into war after their partition which ended in 1953. But there was no peace agreement. South Korea or Republic of Korea has a population of around 50 million. The capital of the country is Seoul, a vibrant and modernised city. The area of the country is around 100,000 sq km. The country follows two major religions Buddhism and Christianity (BBC News, 2010). The monetary currency of the country is Won. The country is a nation with vast knowledge and technical skills. They export products like electronic products, transport equipment and machinery. They have a technical know how and superior technical product developing skills which has made them into one of Asia’s most technically superior nation. South Korea has grown into a major economy and also has transformed into a democracy. The standard of living in Korea is very high. The