8-1 Case Study Acquiring a Company in South Korea.docx -...

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OL-325-T3779 Total Rewards SoCyarria Ward 8-1 Case Study: Acquiring a Company in South Korea Read the case study and provide a report for the executive team that summarizes the current labor practices in South Korea. Ensure that you discuss specific advantages and disadvantages regarding the existing labor practices in South Korea. Be sure to follow APA guidelines and write your paper in the proper format (not as question and answer).
BACKGROUND Chapman Auto Parts is an American manufacturing company that mass-produces an assortment of aftermarket parts and accessories that are distributed in the United States and Asia. Recently the increase demand for parts in the Asian market has created an opportunity for Chapman Auto Parts to expand their business by acquiring a manufacturer in Asia. LABOR MARKET: South Korea has seen a downward trend in manufacturing jobs. Workers hired by manufacturers reduced by 126,000 in June 2018 from the same time the year before. (Xinhua, 2018.) This reflects an overall decline in job creation as well as a slow but steady uptick in the overall unemployment rate. LABOR PRACTICES: Although the current minimum wage being 8350 KRW/Hour or $7.48 USD compared to

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