The Influence of Korean Companies

The economic principle I researched was institutions are the “rules of the game” that influence choices. An example of this are laws, customs, moral principles, superstitions, and cultural values influence people’s choices. These basic institutions controlling behavior set out and establish the incentive structure and the basic design of the economic system. There are many examples of how this economic principle can be applied to the real world. While studying my research topic: How do Korean companies and society create a culture that pressures  women to buy beauty products & services? I found many examples of this principle all regarding the customs and cultural values that influence the choices of women. In my first blog post, I focused on in what ways does Korea’s societal standards impact women. Their double standards of showing prestige while at the same time maintaining the conservative morals pressures the women to invest in products in attempt to fulfill some of the most popular trends of the century such as skincare and cosmetic surgery. Second, this demonstrates how media might influence product usage. The subtle product placements worn by actors and actresses aren't dismissed by the Koreans, in fact, Hollywood is one of the biggest catalysts for the Korean beauty industry. Third, I blogged about the aspects of Korean culture manipulating the choices of women. There may be external influences guiding you to invest in the best, however the most affluent is family. Overall, you can see that cultural customs especially are very influential upon the choices of women in Korea, additionally their moral principles of external beauty reflecting status and education. These points further prove my conclusion that Korean companies are very influential in terms of culture and society.