Foreign Companies Dominating Korean Market

A lot of foreign and multi-national companies have rapidly invaded the Korean market recently.
It is becoming a reality that these outside groups are competing for the top position in various fields.
The Korean market had long been closed to foreign interests due to a 'closed market policy' the government maintained.
Nonetheless, since an economic peril struck Korea last year, foreign mergers and acquisitions have been booming in almost every sector.
Foreign controlled businesses already occupied the top spots in the areas of battery, insecticide, newspaper-grade paper, and the seed industry.
Choi Bong of Samsung Economic Research Institute explained, 'This kind of movement brings a lot of choices for consumers and domestic companies should hurry to develop techniques of their own to survive.'
In the case of insecticides, Johnson-Korea bought F-Killer company last April and moved from fourth position to number one in the domestic market.
The battery market is also being dominated by America's Gillette-Korea (Duracel,Sun Power) since it took over Rocket Battery.
Newsprint demand is currently 1.56 million tons per year, and now 73% of production is controlled by foreign groups.
Yuhan-Kimberly is the largest supplier of feminine napkins, diapers, and facial tissue.
Korea Hewlett-Packard last year took over 45% of Samsung Electronics' shares and is aiming for the top position in the computer printer market.