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Three out of every 10 electronic goods sold in India are made by either Samsung or LG,[link widoczny dla zalogowanych], with the two Korean companies taking up the top two spots in almost all home appliance categories. But this success for Samsung and LG did not come overnight.
"We focused on the basics and tried to cater to the convenience of Indian customers,[link widoczny dla zalogowanych]," said a spokesperson for Samsung Electronics India. "Above all,[link widoczny dla zalogowanych], we tried to modify our products according to Indians' tastes and lifestyles."
Taking into consideration India's frequent power cuts which occur as many as ten times a day,[link widoczny dla zalogowanych], LG introduced washing machines that do not start over again when turned off during operation,[link widoczny dla zalogowanych], and Samsung placed ice packs in its freezers.
Another strength of Korean manufacturers is their extensive after-sales service network. And in a country with a per capita GDP of US$1,[link widoczny dla zalogowanych],000,[link widoczny dla zalogowanych], where nearly one third of the population lives on a dollar a day,[link widoczny dla zalogowanych], price competitiveness is also a major factor in winning the hearts of Indians,[link widoczny dla zalogowanych], which has been achieved through local production.
The Korea-India Comprehensive Economic Partnership Agreement (CEPA) is expected to further boost sales on the back of reduced tariffs on imported goods from Korea. With the trade pact in effect since Jan. 1,[link widoczny dla zalogowanych], more Korean companies are expected to enter India and reap profits in the world's second most populous nation.
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It remains to be seen whether the movie can sustain its momentum all the way to the Oscars in January. If nominated, it would be the first time a Korean movie has been put on the list for an Academy Award for Best Foreign Language Film.