Abstract
Abstract In this article, we document how business environmental factors and balance of market power changes in the Korean distribution market, as it opens to foreign participation. We document that the opening of Korean distribution market would foster competition, enhance technological advancement, and reduce regulation. We further document that the market opening would lead to a shift in the locus of distribution power from manufacturers to distributors. These findings suggest that governments of emerging economics should consider favourably market-opening policies, and particularly, entrants into Korean distribution markets should prefer retailing or wholesaling to manufacture–distributors as a mode of entry.
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