Abstract

In Korea, conglomerates only began their overseas expansion after 1997 Asian financial crisis. However, their low image and brand recognition though was an obstacle prohibiting corporate growth and economic development. When we consider the conglomerate's enormous influence in the domestic economy, it is not only the continuous growth of the conglomerates that is at stake, but also the domestic economy and social stability. On this situation, this research focuses on concrete examples based on the actual conditions of the corporate image and find ways for that improvement under the economic system where the conglomerates are the backbone of the Korean economy. Using Hyundai Motor Company as the case study, a questionnaire survey was conducted with regards to the actual conditions of its corporate image competitiveness in the main markets of Korea (Monopoly market) and China (Foreign, Competitive market) by targeting potential consumers to find out their corporate image recognition towards HMC's and its competitors. Using the empirical data on the actual condition of HMC's corporate image and the task of revising the approach to improving corporate image is clarified. Henceforth, this study went from prior researches until now that only looked at the fragmentary management strategic problems to the actual conditions of corporate image in main markets.

Keywords:

Competitiveness, corporate image, domestic market (Korea), foreign market (China), Hyundai Motor Company (HMC), Korean conglomerates,

References

Competing interests

The authors have no competing interests.

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Copyright

The authors have no competing interests.