New Partnerships Spreading

In the era of 'globalization' there is, seemingly, no limit to new kinds of partnerships forming.
Not only high-tech firms in computers, communications, and electronics but numerous partnerships and joint ventures in machinery and steel industries have recently transpired.
These sorts of unions and alliances were formerly limited to venture groups and chaebols; however, they have been spreading even to medium-sized groups in an effort to be more competitive.
To be successful, a partnership requires a clear purpose and division of duties.
LG currently joined hands with three other companies to develop a 57-horsepower tractor for the agricultural machinery market which has shrunk more than 30 percent in the last year.
The joint project's cost was 17 million dollars with the Ministry of Commerce, Industry and Energy covering 40 percent of the budget.
Unfortunately some businessmen are resisting such partnerships as they feel they have no territory left to share.