Gotta Turn Chinese
LEE: Why do so many multinationals struggle to make money in China? YUN: You cannot survive in China without becoming a Chinese company. That includes local technology development, product design, procurement, manufacturing and sales. If we try to sell products developed in Korea, we might fail because the same products can be developed in China much more cheaply. Our profitability in China varies according to the product. Semiconductor profitability is higher in other countries, but in other areas our productivity in China is OK....