SUMMARY

SUMMARY

During this session, participants discussed the potential of the ASEAN region as a growing market with a large youth population, where online businesses are flourishing. They highlighted the opportunity for companies to establish a strong foothold as the “first generation” since there are relatively few businesses that have become business infrastructures, akin to Japan’s Rakuten and SoftBank, in the ASEAN region.
Balancing globalization and localization was emphasized as crucial. For instance, adapting sales and marketing strategies to the local context while aiming for products with global specifications to facilitate regional expansion was discussed. In terms of talent management, localization was deemed necessary, and transparency and financial incentives were recognized as important factors.
Furthermore, opinions were shared about the significance of partnerships for international expansion, especially in regulated industries requiring approval, where collaboration with government authorities was considered indispensable. There was a consensus among speakers regarding the need for coordination with administrative bodies in such cases.