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영어

This paper provides a longitudinal analysis of internationalization strategies of Hyundai Motor Company in relation with the competitiveness improvement not only from home country's industry level but also firm's competitive advantage level. The characteristics of Hyundai's internationalization experiences can be summarized as 1) maintaining global market focusing attitude, 2) speedy decision making of export and FDI(foreign direct investment) toward overseas markets, and 3) never-ending challenge to overcome trials and error. The case study of Hyundai does not support the incremental expansion of foreign markets asserted by Johanson and Vahlne, but demonstrates that the home country environment such as cheap labour cost was the most important in the early stage of internationalization. However, as the company accumulated international experience, it relied more upon its internal competitive advantages. Locational factors related to the host country environment also affected Hyundai's internationalization strategies but their relative importance declined over time.