An Applied Study of the Analytic Network Process to Assess Country Conditions for Korean Steel Exports

An Applied Study of the Analytic Network Process to Assess Country Conditions for Korean Steel Exports

In this study, we demonstrate how the Analytic Network Process (ANP) model which is combined with Michael Porter's diamond framework can be used for assessing conditions of selected countries : Brazil. India and China for Korean steel exports. The problem of assessing country conditions requires a model that evaluates several factors on different dimensions. Those dimensions are needed for ranking them according to their likeliness of being a target for Korean steel exports. The ANP consists of four kinds of dimensions called control hierarchy : benefits, opportunities, costs, risks, each of which represents the relationship of its own clusters and elements. To develop the clusters and elements of each dimension, Porter's diamond framework will be used. The final results show that China is the most attractive country to export steel, followed by Brazil and India. This is consistent with the information that we found with respect to the elements that were taken into consideration.