FTA Ratification: PR and Communications Moving Forward
However, minority parties as well as civic groups have strongly opposed FTA ratification pushed through by the majority party and this will impact the results of the highly anticipated elections of the National Assembly as well as President next year. Generally, a trade agreement among countries should not benefit one country but instead be seen as mutually beneficial. For Korea, the benefits are attached to automobile parts, technology and the textile industry while agriculture, livestock, broadcasting and healthcare, especially pharmaceutical, will experience losses under the new agreement. Various industry associations, especially those that will be negatively impacted by the KORUS FTA, will become vocal towards the government in appeals for recovery and economic protection.
Special focus will also be given towards any increase of sales revenue reported by multinational companies benefiting from the FTA. With greater vocalism and attention towards social welfare in Korea, foreign companies should be prepared for stronger questioning around commitment to Korea specifically via corporate social responsibility initiatives. Reporting of such work is already being done in Korea but the change will come in how CSR will sit front and center stage for companies as they try to highlight support of Korea and long term commitment to the market. One-off projects that tend to be seasonal or buzz/marketing oriented will no longer suffice. Corporate citizenship will be regarded as a foundational premise for engagement and credibility building so past initiatives will need to be reviewed, reshaped and rehauled.
In the past, there was a greater separation between the political and economic spheres but now with more and more formal agreements being made between countries, the gap between the two disciplines is becoming smaller. The interwoven nature between politics and economics raises questions about social and moral issues as evidenced by the recent “Occupy Wall Street” movement. In such a context, it is hard to predict what changes will take place in Korea but considering the KORUS FTA as well as the local elections, companies – Korean and multinational – will be expected to face greater pressure in managing various stakeholder expectations. How companies decide to balance the fine line between reactive and proactive communications will of the utmost importance with respect to corporate reputation over the short and long term.
'B-M ’Insight’' 카테고리의 다른 글
| FTA Ratification: PR and Communications Moving Forward (0) | 2012/01/05 |
|---|---|
| [CEO 에세이] 한국의 ‘외로운 슈퍼우먼’ (0) | 2011/09/20 |
| SmartPhone, Social Networking and Celebration (0) | 2011/09/01 |
| 기업의 위기관리 무엇이 먼저인가? [김선미 상무] (0) | 2011/09/01 |
| Ten Tips for Positioning Global Energy Companies (0) | 2011/06/23 |
| 소셜미디어와 네트워킹, 그리고 IMC (0) | 2011/05/08 |






