The internationalisation of portuguese companies

: Bial's case in South Korea

Abstract

Internationalization is a process carried out by companies that may be sustained by several motivations. The globalization of markets has reinforced the importance of the internationalization of companies and of the know-how that comes from it. Because of that, more and more companies are trying to go through this process. However, becoming international is a difficult process that may be conducted in several ways, leading companies to struggle not only with the question "where to?" but also with the question "how?”. The present study is directed toward the South Korean market because it is the country in which the internship, as part of the Master in Management, occurred and due to the numerous potentialities still unknown to most companies. In this report, besides the background of the Korean market, a successful case of licencing between the two countries will be presented – Bial, a Portuguese pharmaceutical company. The goal of his study is, based on the theoretical models - CAGE framework, Uppsala Theory and Eclectic Theory - to explain the motivations that led Bial (case study) to choose to internationalize via licensing to South Korea. Throughout the study it was possible to infer that the main motivations for Bial internationalisation were related to the search for demand and new market opportunities. On the other hand, the choice of South Korea was based on its market and population size, as well as due to its position regarding Parkinson's and Epilepsy treatment. Finally, the choice of licencing was supported by Bial's wish to reduce risk and acquire market knowledge through its partnership with Wanbang and Whanln Pharm.

Date of Award	12 Jul 2022
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Alexandra Leitão (Supervisor)