[20700596, entry 9] Lee seeks stronger ties with Australia

Lee seeks stronger ties with Australia
20700506 Jang Jeong-hwa / Entry 9
The Korea Herald / Author_ Kim Ji-hyun / date_ 2008. 05. 09
http://www.koreaherald.co.kr/

President Lee Myung-bak and Australian Foreign Minister Stephen Smith discussed ways to step up economic cooperation and promote peace on the Korean Peninsula. Lee commended Australia's support for resolving the North Korean nuclear issue in a peaceful manner. Smith said Australia will continue to advocate the ongoing six-party talks aimed at dismantling North Korea's nuclear weapons programs， as regional stability hinges on peace and stability on the peninsula. The Australian foreign minister hoped Rudd's visit will help cement stronger business ties with Korea.

In particular， Australia is seeking to strengthen cooperation in the areas of energy resources by exporting more natural liquefied gas to Korea. Australian gas currently accounts for only around 1 percent of Korea's overall consumption.
Korea is， however， a heavy importer of minerals and crude oil， buying $2.3 billion worth in 2007. To further bolster business relations， the two nations are seeking to sign a free trade agreement based on studies that predict Korea's gross domestic product will increase by $29.6 billion over the next 12 years， while Australia's will grow by $22.7 billion.
On Wednesday， Smith met his Korean counterpart Yu Myung-hwan. Yu called for the two nations to exchange more high-profile officials and to install bilateral discussion channels. He also requested the Australian government's support for Korean companies operating there.

All over the world, open economy is held, so market is expended to the all over the world. Many international organizations like WTO, FTA, or GATT have influence upon many nations in the world. And because different countries, with their different stages of globalization, offer marketers a variety of opportunities, firms must assess the viability of various potential market entries. Therefore, marker's eyes should also open to the all over the world.
Global marketing is so important that we should prepare it. Korea already has entered into a relation with many nations. Also, Korea is going to enter into a relation with Australia. According to expend market, global marketing is reared up.
I studied some global marketing in chapter seven. According to the text book, before approach other nation market, marketer had better assess the market. Marketer can examine the market in four standards economic Analysis, infrastructure & technology, government action, socio-cultural analysis. When marketer checks the economic analysis, the most important thing is market size and population growth of target destination. Australia is a top destination for Koreans seeking English education or to emigrate. About 100，000 Koreans reside in Australia， according to ministry statistics. So the discussion of economic cooperation with Australia is more meaningful to Korea. So, I think this economic cooperation with Australia is positive and it will give us great profit.
Nowadays, beef from U.S.A has been a problem but I hope that in a FTA with Australia can influence positive effect to both Korea and Australia as an origin purpose of FTA.