The Sickle Of Sickle Cell Disease - 1381 Words

Sickle cell disease is a group of inherited blood disorders that affects the red blood cells, specifically the hemoglobin. This disease is very interesting because it actually is said to have protective advantages against malaria in the traits heterozygous form. Some scientists, along with students at Kenyon college, claim that the sickle cell trait has evolved or has been naturally selected because it provides vital protection from malaria (Camperchioli). This is mainly backed by the fact that the sickle cell trait is most commonly found in areas where malaria is predominant. Sickle cell disease is a leading cause of death for children in Africa and has begun to spread all over the world, which is why it is important to understand how†¦show more content†¦Approximately 100,000 Americans have the disease and it is beginning to effect more people around the world and spreading due to technology and innovations (National Heart, Lungs, and Blood Institute). Malaria is also a deadly disease that effects many people. In 2012, it was found that over 600,000 people died from the disease and about half of the world live in areas that are at high risk of malaria transmission (Centers for Disease Control and Prevention). The relation between sickle cell and malaria is so important to study and understand because of the two severe diseases it deal with and the size of the effected population. According to A. Alison, there’s a possibility that people with the sickle cell trait have an advantage over those without the trait. In 1946, Beet ran an experiment involving 102 sickle cell infected patients from Rhodesia and only 9.8% of them had signs of malaria, where 491 patients without the sickle cell trait were also tested and 15.3% of them had malaria parasites. In another study the same experiment was conducted, but on African children. 27% of the children with the trait showed signs of the parasite, where 46% of the children without contained the parasite. The results show a large difference

Finance An Important Aspect Of Everyday Life - 926 Words

Finance is an important aspect of everyday life. Keeping finances in balance is a vital thing to be a successful individual in virtually all areas of life. It is of utmost importance that children and teenagers get taught about the importance of finances and are able to see their personal finance in action. This will insure, as a young adult, they will know even the basics of how to handle money, deal with credit, maneuver insurances and other basic forms of finances. How did parents and grandparents of this generation and ones before that get taught about finances? What kinds of experiences did they have to go through to understand finances as they do now? The finances of our parents and grandparents are equally or arguably more important than our own. It was, for many people their parent’s or a family member’s money that paid our way through college.For this assignment we were to interview someone who is twenty or thirty years older than us. We were to ask specific questions related to finance. I chose to interview my Mother, Regina Eakins who is 50 years old. The first question we were to ask was, how old were you when you first became aware of financial matters, such as wise use of credit, buying a home, your personal taxes and making plans for your retirement, to name a few. She stated that she first started to become aware of credit when she was twenty years old. She learned the basics of buying a home in 2001 when we, as a family firstShow MoreRelatedWhat Is Finance for Me642 Words   |  3 PagesFinance is probably one of the most significant part of our life, it is involved in all kind of activities. No matter where you are and what you are doing, we all face difficulties in making decisions in how and when to use money. Talking about finance, most of people would link it with monetary terms, material possessions and investment to increase personal assets. For me through finance is more about budgeting. 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The American Institute of Stress reports that stress costs the U.S. businesses about 300 billion a year in lost productivity, increased employee compensation claims, increased turnover, and increased health care costsRead MoreMy Life And The Internet1200 Words   |  5 Pages Everyday life and the Internet is entwined, the Internet has transformed modern behavior, and virtually every aspect of living, is both widely known and a source of ongoing study. In plain terms, such unlimited access to information and communication has radically altered concepts of self and community. It gives us up to date information to start our day from finance, work schedules, family. Marshall McLuhan quoted: â€Å"When something becomes commonplace people don’t identify it as everyday lifeRead More What is Education? Education has been an important aspect in people’s lives.979 Words   |  4 PagesWhat is Education? Education has been an important aspect in people’s lives. As children What is Education? Education has been an important aspect in people’s lives. As children, they start their academic careers in elementary school and as they grow older they move onto middle school, and then finally high school. I believe that from elementary school to high school, students are getting the minimal amount of education. Some people stop their education after their grade twelve yearRead MoreStudent s Culture And Education871 Words   |  4 Pageslearners and value learning. (p.378) It is important as an educator to connect the curriculum to the student’s culture and to real world experiences because this will aid students in learning. Ladson-Billings (1995) gives an excellent example of how students from different cultures may look at a mathematics question differently. In short, the students were given a math problem asking would it be more efficient for an adult to buy a monthly pass or to pay everyday for the month. Well the African American

Visa Compliance Cancellation and Review †MyAssignmenthelp.com

Question: Discuss about the Visa Compliance Cancellation and Review. Answer: John Smithers being a New Zealand citizen has been granted Temporary subclass 444 visa, which permits any New Zealanders to reside and work in Australia if the person remains a citizen of New Zealand. This visa does not entitle the holder with the same benefits and rights that an Australian citizen is entitled to enjoy. Although he is a successful employee in Toyota he his personal behavior is unsatisfactory. John received a Notice of Intention to Consider Cancellation (NOICC) of his visa under section 501(1) of the Migration Act 1958 on character grounds. According to section 501 of the Migration Act 1958 (Cth) (Migration Act), any visa of a non-citizen may be refused or cancelled if such holder has failed to convince the Minister for Immigration and Citizenship (the Minister) or a delegate of the Minister that they have passed the character test[1]. There are two essential decision-making process under section 501 where the Minister or the delegate, at the first stage, must take into consideration of the fact whether the visa holder has successfully passed the character test or the threshold test for refusal or cancellation. If the Minister or the delegate of the Minister were of the opinion that the holder has passed the threshold test under section 501(1), (2) or (3) for cancellation or refusal of the visa, it would lead to the second stage of decision-making process that is stipulated under section 501 of the Migration Act 1958. In the second stage, the Minister or the delegate would make a decision whether they should implement their discretion to cancel or refuse the visa of the visa holder[2]. According to the commencement of the Ministerial Direction No. 55, the Officers of the Department of Immigration and Citizenship (DIAC) are required to comply with the Direction while making cancelling or refusal decisions under section 501(1) and 501(2) of the Migration act 1958. However, the direction shall not be applicable to visa cancellation or refusal decision that the Minister has personally made. Although the Minister may refer to the direction while exercising his personal powers to make refusal or cancellation decisions, nevertheless, he is not obligated to follow the Directions. Cancellation or Refusal by the Minister or delegate under section 501(1) or (2) of the Migration Act 1958 (Cth) According to section 501(1), the Minister is entitled to grant or refuse a visa if such person fails to convince that he/she passed the character test[3]. The visa can be cancelled under section 501(2) of the Migration Act on the following grounds: The Minister is under rational suspicion that the visa holder/applicant has failed to qualify the character test; The visa holder/applicant failed to assure the Minister that he/she had passed the character test. The Minister or a delegate may exercise its discretionary power conferred upon him by section 501(1) and 501(2) of the Act[4]. Some of the DIAC officers usually act as the delegates of the Ministers while making such refusal or cancellation of visa decisions. Character Test Under section 501 of the Migration Act states that a person is said to have failed the character test on the grounds stipulated under section 501(6) (a) to (d) of the Migration Act which are enumerated as below: Substantial criminal record; Association with persons who is suspected to be involved in criminal conduct; Conviction for immigration detention offenses; Significant risk of any future conduct of similar types; Any present or past general or criminal conduct; Substantial Criminal record- A person is said to have substantial criminal record if such person have been subjected to: Life imprisonment or death sentence; Imprisonment for 12 months or more; Total terms of imprisonments is two years or more; Acquittal of an offence on the grounds of insanity, unsoundness or have been subjected to detention; Any person who has a substantial criminal record shall not pass the character test automatically irrespective of any justifying factors that was related to his/her offense[5]. Past or present, general or criminal conduct- under section 501(6) (c) of the Migration Act, if the present or past criminal or general conduct signifies the student does not have a good character, the person fails the character test[6]. However, while determining whether the person is of good character, the Minister shall consider the facts and circumstances of the relevant case which includes any evidences of recent good behavior of the applicant thus, complying with the Direction No.55. Significant risks of future conduct- A person does not succeed the character test if there is a considerable risk that the person while residing in Australia, would be involved in illegal conduct, molest, harass, or intimidate another person[7]. Such person may pose danger to the community by engaging into harmful activities that might be threatening to the Australian community or any particular part of the community. Association with persons engaged in criminal conduct- a person does not pass the character test is he/she is involved with a criminal person or a person who the Minister suspects to be engaged in criminal conduct. Conviction for immigration detention offences- a person shall fail to satisfy the Minister that he passed a character test if the person is convicted of any offense while he was under immigration detention, after he escaped from immigration detention, or before he was detained as is stipulated under section 501 of the Act. Addressing the Notice of Intention to Consider Cancellation (NOICC) After the NOICC is served it is mandatory that a response is provided along with submissions and evidence, thus, justifying why the visa should not be cancelled. Such response should be provided within 28 days from the date the NOICC is served. On the facts here, John has been involved in criminal activities in the past years. In 2014, he was charged with theft of a motor vehicle, exhibition of drunken behavior and driving carelessly and he was released with a $2000 good behavior without any conviction. In 2015, he had been convicted for 2 months imprisonment with compensation of $2500 for driving without a license and carelessly and assaults. He further failed to render necessary assistance in an accident scene. Further, in 2017, he had been convicted for 3 months imprisonment with compensation of $3000 for committing burglary with a Samurai sword, a lethal weapon. The Minister or any delegate shall consider these criminal conducts as present and past or general criminal conduct, which may result in automatic cancellation of the visa[8]. However, as discussed above, while determining whether the applicant is of a bad character, the Direction No.55 mandates the minister or a delegate to consider all the facts and circumstances relevant to this case[9]. The Minister or the delegate is required to consider all evidences including evidence of recent good behavior of the applicant. The decision makers should consider the following factors: nature, frequency, severity and collective impact of the offence or offences; demeanor of the person since the commission of the offence which includes any conduct that signifies character reform; time period since the person was last involved in criminal conduct; any evidence of ongoing engagement with criminals; any traces of commission of similar offence; any traces of contempt of law; the surrounding circumstances that may justify the criminal conduct in which the applicant was involved; On the facts here, in his justification, John may state that he is regretful for his previous conducts and wishes to reform, given the fact that he is going to become a father. He may further state that he has been subject to medical treatment under a Psychiatrist who is of the opinion that there is every possibility for John to reform and abstain from engaging into any form of criminal conduct in the future. Further, he may state that he is a successful employee in Toyota and is regarded as a highly competent motor mechanic by his colleagues as well as by the employers. In fact, he received an award for the mechanic of the year by Toyota recently. Furthermore, his parents are proud of his employment success. Under section 501(1), if an applicant is involved in any past or present conduct criminal conduct, a person fails the character test. However, John may justify his conduct on the following grounds: that he fell into bad company in the night club and became involved in the alleged criminal conducts; that since the last criminal conduct and after his conviction, he has not been engaged in any further criminal activities; that he had been subject to medical treatment under a psychiatrist and he opined that with growing influences of his family and girlfriend and persistent treatment, he will be rehabilitated; John himself regrets his previous conducts and promises not to repeat or become engaged in any further criminal activity in the future; As per Direction No.55, the decision-makers may consider the following factors while assessing whether the past or present conduct implies that they do not have a fine personality: The person has been engaged in war crimes, terrorist activities or crime against humanity, drug trafficking, extortion, fraud or have a past history ofimmigration law contravention; The person has deported or removed from Australia or another country; The person has been discharged in advance from armed forces; John has not been engaged in any of the above circumstances, and his conduct were though criminal in nature but it did not amount to any of the factors mentioned above. In order to establish that John regrets his part conduct and wishes to reform, he must attach the doctors certificate that there is a complete possibility that he would not commit any criminal conduct in the future as evidence as well as evidence of his organizational conduct[10]. Since failing character test does not automatically cancel or refuses the visa, the decision maker shall have regards to certain primary considerations stipulated under Direction No. 55 that are follows: Best interests of minor children in Australia; The applicants present family in Australia provided they are Australian citizens; Australian Business interests; The economic, health and safety impediments the applicant will face if removed from country; Therefore, John may apply state in his response that his girlfriend is expecting his child and it is for the welfare of the unborn child that his visa is not cancelled. Further, his girlfriend Hannah is part of his immediate family and has no economic stability to raise the child by herself as she is a student and John has a financial stability to support her and their unborn child. His immediate family also includes his parents who are old and have significant health problems as serious as Parkinsons disease and dementia. Since the NOICC is served to cancel the visa, the decision-makers must consider that John would face economic impediments relating to standard of living[11]. Furthermore, since John is regarded as the best technician of the Toyota Company, it is in the best interest of the Australian company that John is not deported as it might affect the production of the company[12]. These grounds establish the strength, nature and duration of Johns ties to the country. However, it is also a fact that the Minister is not obligated to comply with the Direction while making personal decision with respect to the cancellation or refusal of visa on the character grounds under section 501 of the Migration Act 1988. Consequences of cancellation of visa on character grounds If the Minister for Immigration and Citizenship cancels the visa on the ground of character test, John shall face serious consequences like placement in immigration detention for long periods. He may be separated from his family and friends or may be removed from the country. However, John may apply to the Administrative Appeals Tribunal (AAT) within 9 days from the decision made by the delegate, for reviewing the merits of the decision or challenge the legality of the decisions through the courts. However, only a Delegates decision may be appealed before the AAT[13]. The AAT shall review the original decision and set aside such order under section 501 of the Act. John may apply for review of the decision made by the Minister and the delegate before the Federal Court or High Court of Australia where the court may set aside the original decision based on jurisdictional error. References Aas, Katja Franko, and Mary Bosworth, eds. The borders of punishment: Migration, citizenship, and social exclusion. Oxford University Press, 2013. Bucerius, Sandra M., and Michael H. Tonry, eds. The Oxford handbook of ethnicity, crime, and immigration. Oxford Handbooks, 2014. Donald, Adam. "Immigration points-based systems compared." BBC News (2015). Hoang, Khanh, and Sudrishti Reich. "Managing crime throughmigration law in Australia and the United States: a comparative analysis." Comparative Migration Studies 5.1 (2017): 12. Hollifield, James, Philip Martin, and Pia Orrenius. Controlling immigration: A global perspective. Stanford University Press, 2014. https://www.ombudsman.gov.au/__data/assets/pdf_file/0027/42597/Own-motion-report-into-the-Administration-of-Section-of-the-Migration-Act-1958-final.pdf https://www.border.gov.au/Trav/Visa-1/444- Joppke, Christian. "Through the European looking glass: citizenship tests in the USA, Australia, and Canada." Citizenship studies 17.1 (2013): 1-15. Lint, Willem De, Lorraine Mazerolle, and Rick T. Sarre. "Book Review, Leanne Weber, Policing Non-Citizens." (2015). McGrath, Jane. "A path of devotion: Migrationlaw and the art of specialising." Bulletin (Law Society of South Australia) 39.1 (2017): 8. McIntyre, Deborah, et al. "Experiences of adults with high-care needs and their family members with housing and support pathways in Australia." Disability and rehabilitation 39.18 (2017): 1829-1839. Migration Act 1958 (Cth) Oldfield, Yvonne. "Australia's guestworkers? A discussion of the rights of New Zealand citizens to enter, reside and work in Australia." (2014). Phillips, Janet, and Harriet Spinks. "Immigration detention in Australia." Parliamentary Library 20 (2013). Stanley, Elizabeth. "Expanding crimmigration: The detention and deportation of New Zealanders from Australia." Australian New Zealand Journal of Criminology (2017): 0004865817730858.

Transforming of South Korean Economy and the “Chaebols”’ Riddle Essay Example

Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ Riddle Paper Nadezhda Sarelska ID: 10210680317 EMA- Chinese Economy School of Economics Fudan University Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ riddle Political Economy of East Asia Term Paper Professor Dingping Guo October, 2012 Shanghai, China Table of contents: 1. Introduction 3 2. The beginning of Korea 4 2. 1. Collective will for success of South Korea 6 3. South Korea and modern economy 7 3. 1 Reasons behind Economic growth 8 4. The Birth of â€Å"Chaebols† 9 4. 1 Factors of Development of â€Å"Chaebols 10 4. 2 â€Å"Chaebol† and 1977 Asian Crisis 14 5. Case Study of Samsung Group 15 6. Conclusion and Recommendation 19 . Reference List 21 1. Introduction South Koreas ‘s significant transformation an evolution from impoverished to high-income economy during three decades starting from 1960s to 1990s is one of Asian phenomena famous as -â€Å"Four Asian Tigers†- a term used to describe the tremendous performance of four Asian economies Hong Kong, Singapore, Taiwan and South Korea. Between the early 1960s and 1997s, the four Tigers rapidly industrialized and maintained sustained high growth rates (Ref*1). We will write a custom essay sample on Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ Riddle specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ Riddle specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Transforming of South Korean Economy and the â€Å"Chaebols†Ã¢â‚¬â„¢ Riddle specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Today, Korea is an example for a market economy, one highly developed country which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies(Ref*2). In 2010, Korea’s trade volume amounted to US$892 billion, ranking the country the 7th largest exporter in the world(Ref*2). Korea’s shipbuilding sector currently accounts for about 34% of the world’s total shipbuilding orders. As a major auto manufacturer, Korea produces over 4. 2 million vehicles annually. The success of South Korea is often called The Miracle on the Han River and it has been identified by several factors where the presidency of Park Chung-Hee (1961-1979) played a vital role. Under the President Park Chung-Hee’s era, the government played a dominating role in a country’s economy. His policies of shifting away the focus from import substitution strategies towards export- orientated industrialization and technical progress, favored the development of South Korean economy and establishment of a strong business environment appeared with a result of large conglomerates called â€Å"Chaebols†. To be defined as a â€Å"Chaebol†, an organization should satisfy two conditions: it should be owned by family /relatives members and it should have a diversified business operations ( REF*3). The â€Å"Chaebols† have created such a diversification that, as Anna Fifield said in her article, â€Å"You can be born in a Samsung hospital and end up in a Samsung mortuary† (Ref*4). The giants of yesterday are one of today’s best brands in technology field as Samsung, Hyundai and LG. They and the other â€Å"Chaebols† was the core of Korean spectacular growth and still their success can be accepted as South Korea’s success. How and why Korean’s economy was shaped by historical events and what are the reasons behind â€Å"Chaebol† establishment? What was the impact they have created over South Korean economy and could we say â€Å"Chaebols†are the reason for the Miracle on the Han River. ? Case study of Samsung will be performed in order to give us better understanding of one of the largest and famous â€Å"Chaebol† ever and its influence over South Korean economy. 2. The Beginning of Korea The land of the morning calmâ€Å"–this is the meaning of Korea’s original name â€Å"Choson†. The time of establishment of this country and its exact geographic location is still a matter of scientific research even it often believed that human activity in Korea can be traced far into the Pal eolithic period, about 500,000 years ago (Ref*5). In Asia, Korean’s history is known to be second longest following that only of China. (Ref*6) But there is a belief, according to the Korean legend, that the God-King Tangun a legendary figure born of the son of Heaven, (which existence is still disputable among scholars) and a woman from a bear-totem tribe founded the Korean nation in BC 2333(Ref* 7). Not many present- day nations can be praised with so long and rich history even this countrys time has been shaped by difficult and frequent invasions ( as many as 900 by some accounts)( Ref*6), wars and influence from its neighbors. The beginning was often said to be the time of â€Å"The Three Kingdoms† â€Å"Silla† â€Å"Goguryeo† and â€Å"Baekche† where â€Å"Goguryeo† was known to occupy the Northern part of the peninsula from the Chinese border to the Han River, while â€Å"Silla† and â€Å"Baekche† have dominated the Southern regions (Ref. 11). But in 668 AD â€Å"Silla† (668-935) unified the Korean peninsula and start developing a country with an economy, a culture and Buddhist philosophy. † Koryo dynasty† from which the English name Korea originates succeeded â€Å"Silla† in 935 and the country’s boundaries reached level which is very similar to its current size today. â€Å"The Choson dynasty† displaced â€Å"Koryo dynasty† in 1392 and moved the capital to Hanyang-gun (todays Seoul) in 1394. Soon after Confucianism replaced Buddhist philosophy and was adopted as the countrys official religion and â€Å"Hangul† -the Korean alphabet was invented. Korea’s history was filled with prosperity, but also a lot of suffering coming from external forces like Japan, Mongolia and China and this provoked Korean closed-door policy, famous as â€Å"Hermit kingdom†. In the beginning in 1876, the Japanese forced a series of Western-style trade agreements on Korea, leading to Japans annexation of the country in 1910. Due to growing anti-Japanese sentiment, in 1897 King Kojong declared himself to be emperor of the Taehan Empire, an independent Korea (Ref*9). Eventually this move helped Korea to preserve its own language, culture, traditions and sense of identity (Ref*6). However, during the Russo-Japanese War (1904-1905), Japanese forces moved onto the peninsula despite Korean declarations of neutrality and Japan-Korea Protection Treaty in 1905 gave Japan virtual control over Korea. Korea was colonized by Japan in 1910 year, but exactly at that time many modern aspects of Korean society emerged included rapid urban growth and infrastructure, the expansion of commerce, and forms of mass culture such as radio and cinema, which became widespread for the first time. Later had to endure the Korean War (1950-53), but it has achieved amazing economic growth in a short period, dubbed the Miracle on the Han River. (Ref* 2) 2. 1 Collective will for success of South Korea During Japanese influence starting 1920 and later (1937-45) – harsh measured reintroduced by Japanese, Korea had to go through a lot of confusion coming from changes in values and social order after Japanese colonial rules was introduced (Ref* 610). During its occupation, Japan built up Koreas infrastructure, especially the street and railroad systems. However, the Japanese ruled with an iron fist and attempted to root out all elements of Korean culture from society. People were forced to adopt Japanese names, convert to the Shinto (native Japanese) religion, and were forbidden to use Korean language in schools and business. Also the temp of development was rapid and the country’s population was inexperienced and unprepared in economic aspects and knowledge because was coming for monarchy of over 1000years compared to Europe and Japan. Ideological confrontation was visible in Korean society and soon after status of families with long traditions; history and wealth were no more subjects of respect and power, society followed the â€Å"money ideology† which was a way of survival. Soon after the democracy was introduced by USA in August 15, 1945, with the end of World War II, The Soviets and Americans failed to reach an agreement on one unified country and government, so in 1948 two separate governments were established the Republic of Korea in Seoul called -â€Å"The American zone†, and the Democratic People’s Republic of Korea in Pyongyang, North Korea called -â€Å"The Soviet zone† (Ref* 10). This is how the challenge for South Korea and â€Å"The American zone† has started with era of knowledge, where an investment of fond and solid education and hard work were again respectable, thus offered an equal chance to success to everybody despite their origin and status. The whole society desired a better life and this is how they have adopted the concept that â€Å"economic development is a cultural product representing the collective will of the people† (Ref*6). 3. South Korea’s modern economy In July 1953, after three years of bloody fighting in which around three million Koreans, one million Chinese, 54 000 Americans and several other nations including Turkish were killed, the Korean War ended in a truce with Korea still divided into two mutually antagonistic states – American influenced zone in South and Soviet influenced in North, which were separated by a line called â€Å"De-Militarized Zone† (DMZ). Korea has remained divided ever since(Ref*10). After the official division of Korean peninsula, a modern economy study was introduced by USA in South Korea which was differentiated from Marxism idea popular in Japan. However, after 1965 when Japan and South Korea improved their diplomatic relationships, Marxism prevailed into their economy simply because was more community oriented, instead individualistic something which was and it is a basic concept of Confucianism which was influenced South Korea in their earlier stages of history. The ideas of individualistic consumer with no intervention of government for business were too far away of Japan’s model of successful rapid grow which later in years South Korea adopted and adapted into their economic situation Table 1 – Comparison between USA and East Asian capitalism 3. 1 Reasons behind Economic growth Mutual desire for better standard of living and a chance for success were deeply rooted into society’s mind, after the country was left in poverty in the end of Korean War in 1953. The significant growth of South Koreas economy which became independent in 1945 began in May of 1960 when Park Chung Hee and a group of other military officers of the South Korean army took over the control of the government or â€Å"coup d’etat†(Ref* 11). Soon after that in 1961 Mr. Park Chung Lee became president of South Korea and the strategic planning for economic development started focusing on lifting up the South Korean economy out of poverty. The strategy Park Chung Lee developed was based on that of South Koreas nearest rivals Japan rather than Western policy advisers. (Ref*12) Export –oriented policies were implementing as a tool trying to focus the shift into international business. South Korea simply had to survive and find a way to expand economically, but looking outside of its peninsula because with its small and limited land and natural resources caused from its mountainous terrain and climate, as well the small size of the domestic market shaped the Paradigm shift in their economy†. (Ref*13) The emphasis was added on communal productivity, education and quality as Japan did with examples of so called Keiretsu. Another measure was the military-dominated government which installed itself after the coup in 1961 quickly announced an end to the corruption of the First Republic and its intention to use economic growth and development through industrialization to legitimize its authority (Ref* 14) and imple menting state policies providing the basis for successful late industrialization( Ref*15). Twenty four of the leading businessmen were arrested. The founder of Samsung, Lee Byung Chull, escaped this treatment only because he was out of the country at the time. When Lee Byung Chull returned to Korea he met with Park and agreed to cooperate with Parks economic development program. Later Lee and other prominent business leaders offered to donate all or a substantial portion of their fortunes to the government. They ended up paying fines but not giving up their businesses (Ref* 15). 4. The Birth of â€Å"Chaebols† In the process of export-led market economy the government ruled by President Park Chung Lee for 18 years reign (1961-1979) decided to work with five- year’s plans, starting the first one in 1962 which was focused on developing the industrial base and setting the stage for South Korea’s economic prosperity. (Ref* 16) After this step, the government encouraged their local, domestic business enterprises to work and expand by choosing which markets must be developed and allow entry only to several of those local companies. To be accepted as â€Å"Chaebol† a company need to be family-owned and usually this type of organization is influenced by growth-oriented family-centered business, where family male has the dominant role in a hierarchy and almost unlimited power to which his subordinates are loyal (Ref*17). This idea of Pyramid frame of working had an origin of Confucianism which teached several concepts as social hierarchy, harmony and â€Å"the concept of saving face†, kindness and care; modesty and diligence. For instance, in Japanese companies â€Å"had more visible mutual obligation which is unlikely to be seen in â€Å"Chaebol† structure, where the boss is superior compared to employees. As an incentive for local companies, financial motivations were offered such as low- interest loan, tax breaks and others simply because all the banks were nationalized as well for the purpose of economic development. This is how so called â€Å"Chaebols† -which literally mean â€Å"business association†, were born into South Korean history. 4. 1 Factors of Development of â€Å"Chaebols† With its fast speed of industrialization, the economy nourished and supported heavily â€Å"Chaebols† which were often â€Å"family-centered† enterprises. Their brands, products and companies diversified quickly and soon they were responsible for the majority of the exported products which simply meant that private owned companies were responsible for biggest share of South Korea economic development. Not only have they expanded in international level, but also started to grow bigger in local land. Brands like Samsung, Hyundai and LG were a measure for quality, technology and innovation. We could say that even today the same conglomerates are still driver force in Korea. Another â€Å"significant economic decision made by government’s planners was to focus market development through export-oriented industrialization â€Å"(Ref* 18). Because of its enough to produce, but less to consume population and still not existing local markets, all efforts were putting into creating international markets where South Korea could have an advantage and generate a profit. The results started to be visible in fast digit rate at average 10% annual growth between 1962 and 1994. The large and fast expanding multinational conglomerates enjoyed strong support from government and good success of foreign markets. While the contribution of agriculture to the economy declined from 37% in 1965 to 3% in 2008, the industrial sector increased its contribution from 20% to 37%, that of services from 43% to 60% and exports remain the cornerstone of this economic development with their share in GDP accelerating from 8% in 1965 to a whopping 53% in 2008(Ref* 13). Table 2 Share of Top 30 â€Å"Chaebols† in South Korea’s GDP Source â€Å"Chaebol Powered Industrial Transformation† by Ahn Choong-yong, Korea Institute of Public Administration and Korea Times. April 2010 All the conglomerates were liberally permitted to access foreign loans promoted by the government to support fast-paced economic development, while in contrast outflows of domestic capital were effectively curbed ( Ref* 19). The Foreign Direct Investment (FDI) was also restricted in order to keep positive economic growth, except in cases where technology and know-how were involved. In exchange of this, all the â€Å"Chaebols† were obliged to fulfill ambitious plans and to develop for the next three decades. This financial help actually protected the companies from bankruptcy and soon they turned on into â€Å"octopus†, regulating and expanding into more and more branches, industries and brands, even not related to their core scope of business; increasing their power and wealth into public level and became too difficult their decisions to be influenced. For example, a ship building company could decide to enter into a market of cosmetics products or pharmaceutical industry. Of course, simultaneously they opened more factories, created jobs and promoted economic boom. Basically they became a voice in South Korea. In this manner they grew so large that the top fifty â€Å"Chaebols† had sales equivalent to almost 94% of the total national GDP by 1984( Ref*20). In fact as a second measure introduced from President Park Chung Lee was diversifying of â€Å"Chaebol† into heavy and chemical industries, simply to be protected from North Korea . ( Ref*21)As we can see on Table 2, their share in GDP increased dramatically from 9,8 % in 1973 to 29,6% 1989 Table 3 The Growth Rate and Total Factor Productivity by country According to International Institute for Management, South Korea is ranked 5th in terms of education level, with 40 percent of the population completing higher education after high school. This movement into very strong foundation of education was resulted of democracy brought by USA , President Park Chung Lee’s reforms, but also Confucianism’s which, was earlier in history, influenced the social mind of South Korea. Understanding that high level of education and qualified human resources are powerful driver of economy and quality was one of the best tools for sustainable growth. Education system which was a resource highly appreciated by traditional values in the society and was a chance for everybody in quest of success. Moreover, South Korean workers work more hours of the day than most countries reflecting 10 to 13 percent increases in productivity per year( Ref*22). The willingness of hard-working and co-operating were very important for the efficacy and quality of the economic boom. Krugman (1994) claims that the â€Å"Four tigers† achieved the rapid growth rate because they successfully managed the resources associated with high employment share to population, efficacy of work, up-graded educational standards and the high rate of investment(Ref*19). Looking into Table 3, it is clear that South Korea achieved the highest grow rate of 8,5% per cent annually from 1960 to1994. Table 4 Domestic Saving per GDP (per cent) Another tool which helped â€Å"Chaebols† to flourish was high-saving ratio, which was initially originated from uncertain life conditions and missing social system. In Korea the social welfare system was not well established (Ref*23). In this kind of situation, similar to China’s beginning, individuals are trying to save as much as they can in order to ensure their future. Furthermore, high savings and investments also contribute to capital accumulation. For example, Kim and Lau (1996) extend their input-analysis which covers Indonesia, Malaysia, Thailand and the Philippines reveal that capital accumulation associated with high domestic saving and investment level significantly contributed to strong growth in East Asia. Also, Collins and Bosworth (1996) emphasize that saving, investment and government policy are the main contributor to high capital accumulation ( Ref. 19) 4. 2. â€Å"Chaebols† and 1997 Asian Crisis The financial crisis that hit Asian countries in early July 1997 was an unexpected situation for â€Å"Four Tigers† including South Korea which were witnessed a rapid and sustainable growth in several decades in row, offering high standard of living into their citizens, high annual growth and successful export economy. They were accepted and perceived as models of economic boom. A lot of foreign investment were flowing and then government help like bank loan , preferential policies and incentives which were used to stimulate the economy through so called multinational companies â€Å"Chaebols† . All this led to excessive diversification, a debt, a difficulty to be measured the credibility of a company and its real proportion due to unlimited bank loan with 0 interest they were given; lack of business transparency, superior managerial behavior and more. All these reasons led to so called† Asian Contagion, this was a series of currency devaluations and other events  that spread through  many Asian markets. As a result of the crisis, South Korea adopted different protectionist measures, government and financial reforms to ensure the stability of their own currency and reforms inside of â€Å"Chaebols† structures. ( Ref*24). 5. Case of Samsung Group Samsung Electronics integral part of is a multinational, family-owned company with headquarters located in Samsung Town in Seoul called â€Å"Samsung Group†. Samsung Group has grown to become one of the worlds leading and respectuful electronics companies, specializing in digital appliances and media, scycrapers, petrochemicals, fashion, medicine, hotels, semiconductors, memory, and system integration. Ref *25). As journalist Anna Fifield said in her article, â€Å"You can be born in a Samsung hospital and end up in a Samsung mortuary† (Ref*4). They operate in more than 65 different countries as sales and plants; also they are responsible for appointing for more than 170,000 employees worldwide. In 2009 the company was c lassified as largest IT Company in world with biggest sales revenue of memory chips, LCD and LED displays. For TV and smart phones devices markets, Samsung is in top position, especially after launching Galaxy 2 Note competing with Apple and theirs I pad mini and I phone. Its growing share in smart phones and tablet’s market is very high with around 20% for the first quarter in 2011 compared to 16, 1% in same time previous year. [pic] Brief history and Economic Overview The Samsung Group was established in 1938 in Taegu, Korea by Byung Chull Lee and its main scope of business was export of fish, vegetables and fruits to Mainland China. In 1951, Samsung Corporation was officially established with name Samsung Moolsan which means â€Å"Three Stars† (Ref*25). The company started to grow and later in 1958 when Ankuk Fire Marine Insurance as well DongBang Life Insurance in 1963 was acquired, the name was changed into Samsung Fire Marine Insurance and respectfully Samsung Life Insurance. In 1969 Samsung Electronics and Samsung Sanyo Electronics were established, but in 1977 they also merged and diversifying started into heavy, chemical, shipbuilding, IT and other industries. The reasons behind such a diversification could be the same between all â€Å"Chaebols† examples, but very true for Samsung. They assumed that if investing into new business or a product will avoid potential risk of a single bankrupt, gaining knowledge for a technology and know-how patents; competitions and bigger market share and another factor could be because of persuading better wealth in order to ensure all the family members. ( Ref* 21) Thanks to its clever moves and business/political decisions Samsung developed excellent domestic and international market and 1974 they bought 50% of share of Korea Semiconductors, which gave them the first place of semiconductor manufacture SWOT ANALYSIS Samsung Group is one of the largest â€Å"Chaebols† in South Korea with world-class quality products and brand. The company has dominance into digital and electronic components markets, with more than 40 existing affiliated companies. Fig. 1 SWOT ANALYSES – Samsung Group STRENGTHS Strong brand and loyal customers; Leader in several markets as IT and electronics; Excellent supply chain; Capital; Confidence; Trustworthy and Credibility; Innovation; Technology level and skilled worker HR; Product Strategy WEAKNESS Serious Competition; High Marketing cost; Managerial Behavior; Centralization; Corruption OPPORTUNITIES Good economic conditions; highly disposable income local market; Government support; International relations and business expanse; Technology development THREATS Patent’s legislations; Regulatory issues; Technological changes; Economic Crisis; China Table 5 Samsung Electronics Marketing Expenses Marketing Mix for Samsung Group – 4P Product Strategy Samsung’s diversified line of products in 3D market for example which is offering LTD, LED and Plasma TV is one of best positioned into product strategy. Their electronic market is also very good example for product strategy which is one of their strengths in SWOT analyses Focusing on unique products and innovation to compete like 3D Plasma TV with unique design and functionality allowed Samsung to became a leader into this direction. Another very well presented idea of their product strategy is smart phone Galaxy Note 2 which competes directly with Apple’s I pad mini. Among some of the benefits of Galaxy Note 2 is its display, price, Android operating system, Bluetooth, slightly lighter, removable memory, flash, front camera/rear camera and few more. Ref* 26). At the moment this is the best tablet produced by Samsung and as product strategy unique was chosen and improvement inside of the functionality. Price strategy – Samsung strategy according their pricing is being available for more consumers than I pad mini/ I phone, which is persuaded as a luxury and fashionable product, thus its price differentiates – some times even double less expensive. Another factor regarding price is that Samsung produce a big amount of it’s and also Apple’s components’ which results into higher cost and price for Apple’s products on market. Thanks to diversification mentioned earlier we can see that Samsung actually have the advantage to produce by themselves most of the electronic components of their smart phones/ tablets, but also to their competitors, so they became superior in the Pyramid. Promotion strategy: This is one of most weak part of SWOT Analyses of Samsung, because it cost billions of USD in advertisements and promotions which are conducted in three continents – Europe, Asia and USA. 8 billion USD were spending in Europe compared to 3 billion in Asia and 12 billion in North America. Using famous American singer/groups such as Black Eyes Peas into their promotion strategy is adding high cost for the â€Å"Chaebol†. Product Placement: The strategic idea here is that Samsung tablets Galaxy 2 Note are not positioned on the luxury market, but at the same time will not be sold in low-level stores as Wal-Mart. Targeting young people across three continents, Samsung focused on uniqueness, creativity, design and promotion. Apple’s product focuses on luxury and fashionable segment of the market where consumers are ready to pay more premiums. Conclusion and Recommendations Transforming South Korea’s economy was an experiment and example of â€Å"Tiger measures† conducted by the government of President Park Chung Hee in quest of best way to expand the economy in sustainable way and improve the quality of people equally. Focusing on export-oriented economy with solid foundation of education, willingness of hard-work, high saving ratio and allowanc e of private family- own enterprises in national sectors and important industries helped The Miracle on the Han River to become history of success. Chaebols† were and still are enormous part of South Korean Economy, which for three decades created a country -an example for a market economy, which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies (Ref*2). In 2010, Korea’s trade volume amounted to US$892 billion, ranking the country the 7th largest exporter in the world(Ref*2). Korea’s shipbuilding sector currently accounts for about 34% of the world’s total shipbuilding orders. As a major auto manufacturer, Korea produces over 4. million vehicles annually. The majority of export related goods are produced by top â€Å"Chaebols† companies which appeared in late 60s after government of Park Chung Hee offered them unlimited incentives and industries in exchange of economic growth with 10% on average. The impact of those conglomerates was measurable and visible, even though 1997 Asian crisis shaped up them and reformed these â€Å"octopus† inner structures by implementing more transparent policies and less corruption. Nowadays â€Å"Chaebols† are still the driver of South Korean’s income and economy. As recommendation for the largest â€Å"Chaebol† at the moments, Samsung Group- focusing on innovation and technology improvement will be useful, because China is starting to emerge and also other competitors are weak point for Samsung. Combing their efforts could be a good strategy in order to protect South Korean’s reputation and export share. Focusing on domestic market and not being so dependent on export. 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