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Abstract

The purpose of this research is to provide strategic decision-making guidance and develop mid-to-long-term strategies for South Korean companies considering whether to maintain their presence in the Middle Eastern petrochemical market In response to the main aim, this research has found that South Korean companies should seriously consider maintaining their operations in this market. Despite the significant risks associated with intense competition during bidding, price reduction pressures, and challenges in contract management and procurement compared to more advanced competitors, the opportunities for participating in mega projects, as well as the market's growth potential and stability, are substantial. Furthermore, forming joint ventures (JVs) with other firms can enhance technological and pricing competitiveness, allowing South Korean companies to gain valuable experience and develop cutting edge technologies to gain valuable experience and develop cutting-edge technologies needed to enter new regional markets. Additionally, the drive for economic diversification, spurred by carbon regulations and environmental policies, presents essential opportunities that further increase the potential benefits. Therefore, it is recommended that South Korean companies actively leverage these strategic advantages while minimizing associated risks, ensuring their continued engagement in the region. 

To reach these conclusions, the research employs a mixed-methods approach, combining both qualitative and quantitative methodologies. An integrative review method was utilised to comprehensively analyse primary data collected by the researcher alongside secondary data obtained from government and industry reports, as well as academic literature. The research was conducted in three stages: a literature review, a survey of industry experts, and a detailed analysis. The raw data collected was analysed not only in the aggregate but also through subgroup analysis, comparing the perspectives of Senior, Mid, and Junior experts to derive additional insights. For the quantitative analysis, the weighted score method was employed to calculate the relative importance of various subcategories and assess the level of proactive response by South Korean companies.

Course: Quantity Surveying - MSc - C2170

Date Deposited: 2025-01-20

URI/permalink: https://library.port.ac.uk/dissert/dis14693.html