Background & Money
What is $36,113.00?
This figure is South Korea's high GDP Per Capita as estimated for 2024.
What are Chaebols?
These are the large, family-controlled conglomerates that dominate the Korean economy and often own rival coffee chains.
What is 88.5%?
This is the high percentage of the population that uses e-commerce, making a digital-first strategy mandatory.
What is Chuseok?
The name of the Korean Thanksgiving holiday, when business typically stops.
What is meaning of the question SHOULD INVEST?
This is the key question the final decision answers.
What is the Miracle on the Han River?
This is the specific term for South Korea's rapid economic growth that established its modern industry.
What is "Brand Canada" (for quality and safety)?
Best defensive competitive strategy against domestic rivals is relying on this niche perception.
What is a premium quick-service brand?
Tim Hortons must position itself as this type of brand to succeed in South Korea, avoiding the budget segment.
What is a bow?
This mandatory physical gesture is used to show deference and respect when greeting seniors or elders in business.
What is a progressive employer (or egalitarian employer)?
The final action plan recommends that Tim Hortons become this type of employer to attract valuable talent.
What is 70%?
This is the high percentage of the population (ages 25-34) that has achieved a tertiary education.
What is labour (or working-age labour)?
The high cost of this local factor is why Tim Hortons must rely on automation and CKFTA savings to maintain profit margins.
What is Harmony (or cohesion)?
The Korean term Inhwa refers to this concept, which dictates that clear opposition should be avoided in meetings.
What is Business Negotiations?
The process of building business partnerships is defined as being slow, patient, and relationship-driven, which Tim Hortons must respect.
What is coffee (or maple) and how is it significant to South Korea in relation to Canada?
The primary Canadian ingredient that benefits directly from the CKFTA and should be exploited for competitive advantage.
What is 98.2%?
This percentage of Canadian exports is nearly duty-free under the CKFTA, giving Tim Hortons a cost advantage.
What is Kibun?
This concept of "dignity and reputation" is essential for Tim Hortons' senior management to respect during negotiations.
What are green tea options (or savory rice-based snacks)?
This type of localized snack, like green tea flavors, must be integrated into the menu to appeal to the Korean palate.
What is the glass ceiling?
This is the term for the permanent barrier preventing skilled women from reaching the highest roles in traditional firms.
What is the patriarchal structure of local firms (or gender discrimination)?
The recommended HR policy of promoting women is a strategic advantage because it counters this local issue.
What is a Super-Aged Society?
This demographic status, entered in 2024, means over 20% of the population is aged 65 or older.
What are patriarchal norms (or gender discrimination)?
The recommended HR policy of hiring educated women helps Tim Hortons combat competition for talent due to the Chaebols' adherence to these norms.
What is mobile ordering/in-app payment (or kiosk automation)?
The most effective recommended digital operational strategy to handle the high urban volume.
What is a corporate gift?
This specific item, often containing Canadian maple products, should be budgeted for partners during major holidays.
What is Localization Strategy?
The specific name of the phase recommended to adapt the menu to local tastes (e.g., green tea options).