Published on March 7, 2014
March, 7, 2014 Jay (Jihye) Jang 1
March, 7, 2014 Jay (Jihye) Jang 2
The content is put together by Jay(Jihye) Jang. Please email me if you want to have more information. March, 7, 2014 by Jay (Jihye) Jang 3
March, 7, 2014 by Jay (Jihye) Jang 4
¡ English: speak slowly, summarize your key points often, and pause frequently to allow for interpretation. ¡ Body language: Avoid touching, patting or back slapping a Korean. ¡ Never point with your index ﬁnger, it is rude. March, 7, 2014 by Jay (Jihye) Jang 5
¡ Some Koreans still do not make eye-‐contact for any length of time when in the presence of an authority ﬁgure. March, 7, 2014 by Jay (Jihye) Jang 6
¡ To enhance communication and reduce the possibility of misunderstanding due to language, you may ﬁnd it helpful to send written materials (brochures, marketing materials, proposals) in writing to your Korean counterpart some time prior to the meeting. March, 7, 2014 by Jay (Jihye) Jang 7
¡ Korean names: opposite of Western names with the family name ﬁrst, followed by the two-‐part given name. ¡ Example: Lee (Family) + DongSung (First Name) -‐> Mr.Lee March, 7, 2014 by Jay (Jihye) Jang 8
¡ Many Koreans shake hands with expatriates after a bow, thereby blending both cultural styles. ¡ Always wait to be seated after elders and people of importance as well as wait to pick up spoon to begin eating. March, 7, 2014 by Jay (Jihye) Jang 9
¡ Sharing a dinner is vital to building friendships that foster trust. Your business success is directly related to your social relationships. ¡ Smoking: During a meeting, there may be several smoking breaks as many South Koreans are smokers. March, 7, 2014 by Jay (Jihye) Jang 10
¡ Gift: It is also common to give gifts to your Korean business. If you don’t agree to take the gift a Korean will ﬁnd this very insulting. March, 7, 2014 by Jay (Jihye) Jang 11
¡ Drinking is a synthesizer in Asian culture. ¡ Do not refuse when the partner invite you for drinking. ¡ Don’t pour your own drink but oﬀer to pour others. March, 7, 2014 by Jay (Jihye) Jang 12
¡ It is important to make an appointment a few weeks in advance of a business meeting. scheduled a meeting (10 AM to 12 PM) or (between 2 and 4 PM). ¡ Punctuality is important as it is a sign of respect. If you realize that you may be a little late, it is best to call ahead. March, 7, 2014 by Jay (Jihye) Jang 13
¡ Professionals meeting for the ﬁrst time usually exchange business cards. Present your card and receive your colleague's card with both hands. ¡ Hierarchy is important than talent/ability rank ¡ Seniority is priority to support the hierarchy. March, 7, 2014 by Jay (Jihye) Jang 14
¡ Decision-‐ making process: collectively and up through the hierarchy and therefore does take more time than you may be used to. Try to be patient, and even if you’re not feeling patient, try not to show it. March, 7, 2014 by Jay (Jihye) Jang 15
§ § Be patience on changing terms: South Koreans treat legal documents as memorandums of understanding. Acknowledge those with the highest status ﬁrst (respect for status and age) March, 7, 2014 by Jay (Jihye) Jang 16
§ Business Card: When introduced, they exchange the cards ﬁrst and read thoroughly before they open discussion. Handle with two hands. ¡ Use simple English, speak in short. March, 7, 2014 by Jay (Jihye) Jang 17
¡ Women, be sure to wear cover the body carefully without exposing cleavage. ¡ Do not call ﬁrst name. ¡ Do not panic when they ask personal questions (e.g.,age or martial status) March, 7, 2014 by Jay (Jihye) Jang 18
¡ Under no circumstances insult or to criticize in front of others. (Saving Face) ¡ Make sure you are always well dressed and tidy. In business conservative dress is preferred March, 7, 2014 by Jay (Jihye) Jang 19
Population Language 50M Korean-‐ Hangul Religion Christian: 25% Buddhist: 24% Confucian: 3% 126M Japanese-‐ Hirakana (modiﬁed Chinese) Shinto & Buddhist: 84% Christian: 0.7% March, 7, 2014 by Jay (Jihye) Jang 1.3B Chinese-‐ Cantonese Buddhists: 11–16% Christian: 3–4% Muslims: 1% 20
Managerial Principles “Inhwa” “Wa” “Guanxi” Harmony based on respect of hierarchical relationships Value place on group loyalty and consensus. Friendship with overtones of unlimited exchange of favors. March, 7, 2014 by Jay (Jihye) Jang 21
¡ Alston, J. P. (1989). Wa, Guanxi, and Inhwa: Managerial Principles in Japan, China, and Korea. Business Horizons, 32(2), 26. ¡ Kim, T., Wang, C., Kondo, M., & Kim, T. (2007). Conﬂict management styles: the diﬀerences among the Chinese, Japanese, and Koreans. International Journal of Conﬂict Management, 18(1), 23-‐41. ¡ Rowley, C., Benson, J., & Warner, M. (2004). Towards an Asian model of human resource management? A comparative analysis of China, Japan and South Korea. International Journal Of Human Resource Management, 15(4/5), 917-‐933. doi:DOI: 10.1080/0958519042000192013 March, 7, 2014 by Jay (Jihye) Jang 22
The content is put together by Jay(Jihye) Jang. Please email me if you want to have more information. firstname.lastname@example.org 23
This page summarizes Doing Business 2015 data for the Republic of Korea. ... Doing Business 2014 DTF** (% points) Change in DTF** (% points) 83.40: 83.21:
Doing Business 2014: ... New Zealand; the United States; Denmark; Malaysia; the Republic of Korea; Georgia; Norway; and the United Kingdom. ...
Doing business 2014 : Korea - understanding regulations for small and medium-size enterprises (English)
Buy Doing Business In South Korea, 2014 ed. at Legal Solutions from Thomson Reuters. Get free shipping on law books.
Business > Doing Business in Korea ... , with the goal of doubling exports by 2014. ... (read latest “Doing Business In” guides)
Guide to Doing Business in South Korea. ... Doing Business in Korea. ... December 2014 (21) November 2014 (24)
As The Republic of Korea has become a global growth driver, international companies are seeking assistance from professional firms offering a large range ...
... he told me he preferred doing business in the DPRK over China ... conduct business in North Korea. ... Korea dropped 40% in 2014 ...
Newcomers are advised that forming personal relationships are “integral” to doing business in South Korea. Sources comment:“If they are not ...