REGIONAL MULTINATIONALS AND THE KOREAN COSMETICS INDUSTRY CHANG HOON OH* AND ALAN M. RUGMAN** *Chang Hoon Oh Ph.D. Student in Business Economics Department Kelley School of Business, Indiana University 1309 E. Tenth Street Bloomington, IN 47405 U.S.A. Tel: 812-855-9219 Fax: 812-855-3354 Email: chaoh@indiana.edu **Alan M. Rugman L. Leslie Waters Chair in International Business Kelley School of Business, Indiana University 1309 E. Tenth Street Bloomington, IN 47401-1701 U.S.A. Tel: 812-855-5415 Fax: 812-855-9006 Email: rugman@indiana.edu February 27, 2006 Revised 4/17/06 Revised 5/9/06 Acknowledgement The authors wish to thank the editor and anonymous referees for their detailed comments and suggestions, which have greatly improved the paper.