Seoul(1) / Korea

Seoul is the capital of South Korea and the fourth largest city in the world, with a population of 11 million people. Although South Korea has been known as "a country of morning calm," it has become a country bustling with activity in preparation for hosting of the FIFA World Cup, 14th Asian Games Busan 2002 and the 8th Busan FESPIC Games. Advanced and first-rate infrastructures such as airports, harbors, railways and optical communications are being implemented to support these events.

The Seoul Office is located on the twentieth floor of the Lotte Building, which is the tallest building in Jung-Ku, the old and long central part of Seoul. Jung-Ku encompasses palaces of the Lee-Dynasty, Seoul City Hall, luxurious hotels and various business centers. The Seoul Office boasts around 70 employees, including 12 Japanese staff.

President Yoshio Ohtsu took up his current post in January 1999, one year after the establishment of Marubeni Korea Corp. from a branch office. Upon his inauguration, he placed primary emphasis on the core businesses of promising sectors and direct transactions (shikiri-shoubai), which originated locally. In line with this, he proceeded to make strategic alliances with blue-chip corporations and investments in venture companies. Consequently, in just three years the company has constructed a solid foundation as a local overseas entity that can generate substantial profits. President Ohtsu maintains a directive for all employees to develop a mental attitude of self-innovation and value creation so that new objectives can continue to be established and achieved.

Within this new wave of events, C. W. Kim, the Assistant to the General Manager of the Chemical Products Department, has distinguished himself as a frontline soldier who creates high values. Kim currently works three days a week at WIN-TECH, a three-company joint venture established two years ago by the Seoul Office, together with both Japanese and South Korean LPG container makers. Kim is responsible for the exporting activities of gas cylinders to Japan and coordinating the interests of the three partners so that business matters proceed according to plans.

Despite significant differences in business practices and satisfactory quality standards, as a joint venture between foreign companies everything has been going well. However, at the end of last year the situation became critical when all of the products from a shipment sent to Japan were returned. Up until that time, there had been several claims against the company that were resolved by the president of the joint venture, who endeavored to understand it as a necessary hurdle to overcome in the development of the firm's technology. However, this return of all products made him burn with vehemence and ultimately declare the "complete cut-off of exports to Japan and ending of the joint venture relationship." Naive Kim, who voiced words in defence of the Japanese partners, was immediately kicked out of the factory.

Nevertheless, Kim never gave up and stayed up all night strongly emphasizing that "the stabilization of quality is the only way all the companies related to the joint venture would be able to survive." At the same time, he received promises from the Japanese partner that they would relax their claims to a certain extent and raise the export prices from the New Year. As a result of these efforts, Kim was able to return to his former post from the next day.

As Kim rides the bus to Win-Tech every morning, he swells with pride at the bright future of WIN-TECH while planning the company's domestic sales strategy for this year.

The Marubeni Seoul Office is located in the tallest building of Central Seoul Seoul World Cup Stadium

Established:1967

Main Businesses and Products:

* Textiles: Cotton yarn, staple fiber, filament, yarn, knit-fabric, t-shirts and apparel
* Machinery: Medical instruments and textile machinery
* Metal resources: Copper cathodes and ferro chrome
* Energy-chemical products: Crude oil, naphtha, ethylene, propylene, caprolactam and agrochemicals
* Materials: Pulp and chips, tires, paper and film
* Food products: Corn, soybean, wheat, palm oil, tuna, raw sugar, etc.

Businessg Areas: Korea, Japan, Hong Kong, Singapore, Taiwan, Pakistan, India, Indonesia, Germany and the U.S.A.

Employees: 70 (as of January 2002)