중앙아시아 진출 한국기업의 투자리스크 유형과 대응: 카자흐스탄 및 우즈베키스탄 투자기업을 중심으로
Risk type and risk management of Korean companies in Central Asia: Based on the companies in Kazakhstan and Uzbekistan
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Due to the continued economic growth of Central Asian countries after the transition period, the Korean companies’investment in this area has been rising steadily. The investment of Korean firms is especially focused on Kazakhstan and Uzbekistan. While promoting the transition to a market economy, these countries strive to improve the investment environment for the inflow of foreign investment. But,like most of the foreign companies experience political risk in foreign market, in these countries also exist political risks resulting from outside the company environment like characteristics as the developing countries, the authoritarian system and etc. This paper investigates and classifies the political risk that Korean companies faces with in Kazakhstan and Uzbekistan using quantitative analysis based on the survey of Korean companies in Kazakhstan and Uzbekistan. The result shows that the risk could be classified as governmental-related risk, macro-societal risk, micro-societal risk,and macro-economic risk. Among them, Korean companies assessed that the micro-societal risk including corruption and uncertainty in the market is the most affected factor. The risk management was classified by active and passive one. Korean companies preferred active management to strengthen relations with the locals.
Abstract
Due to the continued economic growth of Central Asian countries after the transition period, the Korean companies’investment in this area has been rising steadily. The investment of Korean firms is especially focused on Kazakhstan and Uzbekistan. While promoting the transition to a market economy, these countries strive to improve the investment environment for the inflow of foreign investment. But,like most of the foreign companies experience political risk in foreign market, in these countries also exist political risks resulting from outside the company environment like characteristics as the developing countries, the authoritarian system and etc. This paper investigates and classifies the political risk that Korean companies faces with in Kazakhstan and Uzbekistan using quantitative analysis based on the survey of Korean companies in Kazakhstan and Uzbekistan. The result shows that the risk could be classified as governmental-related risk, macro-societal risk, micro-societal risk,and macro-economic risk. Among them, Korean companies assessed that the micro-societal risk including corruption and uncertainty in the market is the most affected factor. The risk management was classified by active and passive one. Korean companies preferred active management to strengthen relations with the locals.
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