Contact: Don Southerton
1-310-866-3777
Sunday, January 31, 2010
Everything Korean Vodcast: Expectation
Welcome to this vodcast edition of Everything Korean: Insights into Korean Business.
Contact: Don Southerton
1-310-866-3777
Contact: Don Southerton
1-310-866-3777
Everything Korean: Expectations
By Don Southerton, President and CEO Bridging Culture WorldwideWelcome to this edition of Everything Korean: Insights into Korean Business. As we enter February 2010, it looks like the US and Korean economies have been recovering--in Korea some are concerned over a double dip recession, a strong won eroding profits, and if the Chinese economy contracted--how would they deal with its impact on Korea--now rivaling that of US Korean economic ties. That said, Korea's top tier companies like Samsung and Hyundai Kia are posting record 2009 sales and profit. For example, Samsung Electronic sales exceeded $ 117 billion. Their profits, like those at Hyundai Kia, soared, too.
Moving right along, today I'd like to share in this vodcast a topic many viewers will find valuable. I know many firms have successfully gained new business opportunities with Korea based companies. Others viewers are hopeful at the prospect of Korea focused business ventures.
Many of you did a great job meeting with Korean teams and sharing your services. You were culturally sensitive and gained the trust of your Korean client. You negotiated well. The deal is signed and its time to perform. Sadly the honeymoon is over. Challenges arise, what appeared to be clear expectations can now seem murky with poor alignment and weak communications.
Why? There are a number of reasons. One is that teams that meet, bond, and negotiate are seldom the one's actually doing the work. The teams on both sides that crafted the deal are well skilled in global business. The teams doing the work are talented, but usually less skilled--many have no experience either working with Koreans, or Koreans who have limited experience working with American or international teams. A caveat to this is that many of the Korean teams are bright, but very junior (sawon or daeri), new to the workplace and tend to be generalists, whereas your team is comprised of highly specialized veterans.
So what's the solution? Frankly in my experience the most successful firms show great leadership. Top management stays well informed, get coached, and is frequently advised and updated on changing Korean business norms and the client. They provide constant positive and upbeat support.
Second, they make sure their teams get training and support. Expecting the team to "get it" seldom works--and if it does it takes time, is costly, contributes to stress, poor productivity and even employee turnover. In fact, expecting non-Koreans to understand Korean culture, its changing workplace, and your client is like throwing someone into a pool and assuming they will swim, not sink.
To conclude,
In dealing with your Korean partners, understand the huge stress loads within Korean based firms—pressures to endure and leap frog ahead of the global competition. They need to perform and you will be expected to perform also. Be mindful and culturally sensitive at all times. BCW is dedicated to providing much needed coaching and training. We can also provide research, analysis, and strategy to you and your teams. As always, we are here to assist and support 24-7-365.
Contact Don Southerton
1-310-866-3777
Friday, January 29, 2010
Korea Business Central Releases Exclusive Interview with Tom Coyner, Author of Mastering Business in Korea
FOR IMMEDIATE RELEASE
Carlsbad, CA January 29, 2010 -- Korea Business Central (www.KoreaBusinessCentral.com), the premiere Korean business and networking site, is sponsoring an ongoing series of interviews on how to succeed at Korean business. The first interview is with Tom Coyner, author and business consultant.
Tom Coyner has more than 20 years of management experience in Korea and Japan working for American firms. He has an MBA in International Business from the University of Southern California and his recent book is entitled Mastering Business in Korea.
Coyner's Korea Business Central interview highlights the idea that doing business in Korea is not as hard as it may seem at first glance but relationships are most important. He notes "There is no substitute for getting one's feet on the ground and getting to know people." What may surprise many, Coyner points out, "Many companies make more net profits out of Korea than they do even in China...."
In the interview Coyner shares that contrary to some reports, Koreans are open and receptive to doing business with non-Koreans and are intellectually curious. That said, Korean society is incredibly competitive, both on business and social levels.
The interview is available at http://www.talkshoe.com/talkshoe/web/talkCast.jsp?masterId=74477&cmd=tc.
For more information on Tom Coyner contact Soft Landing Korea. (http://www.softlandingkorea.com/)
About Korea Business Central
Korea Business Central is the premiere Korean business and networking site. Wholly owned by Korean Consulting & Translation Service, Inc. and partnered with Bridging Culture Worldwide, Korea Business Central is a free community where members can learn, discuss and network about Korean business, with affiliated offices in Ansan, Korea; Dallas, TX and Carlsbad, CA.
About Korean Consulting & Translation Service, Inc (www.koreanconsulting.com)
For nearly a decade, Korean Consulting & Translation Service, Inc. has been helping clients overcome the formidable obstacles in Korean work, enabling them to achieve their goals. The company's two main business areas include Korean translation services and Korean business consulting.
About Bridging Culture Worldwide (www.bridgingculture.com)
Bridging Culture Worldwide is a global firm that offers training programs and consulting to help management and employees appreciate and understand Korean culture and business. BCW programs focus on optimizing communication within organizations across North America, South Korea, and globally.
# # #
Carlsbad, CA January 29, 2010 -- Korea Business Central (www.KoreaBusinessCentral.com), the premiere Korean business and networking site, is sponsoring an ongoing series of interviews on how to succeed at Korean business. The first interview is with Tom Coyner, author and business consultant.
Tom Coyner has more than 20 years of management experience in Korea and Japan working for American firms. He has an MBA in International Business from the University of Southern California and his recent book is entitled Mastering Business in Korea.
Coyner's Korea Business Central interview highlights the idea that doing business in Korea is not as hard as it may seem at first glance but relationships are most important. He notes "There is no substitute for getting one's feet on the ground and getting to know people." What may surprise many, Coyner points out, "Many companies make more net profits out of Korea than they do even in China...."
In the interview Coyner shares that contrary to some reports, Koreans are open and receptive to doing business with non-Koreans and are intellectually curious. That said, Korean society is incredibly competitive, both on business and social levels.
The interview is available at http://www.talkshoe.com/talkshoe/web/talkCast.jsp?masterId=74477&cmd=tc.
For more information on Tom Coyner contact Soft Landing Korea. (http://www.softlandingkorea.com/)
About Korea Business Central
Korea Business Central is the premiere Korean business and networking site. Wholly owned by Korean Consulting & Translation Service, Inc. and partnered with Bridging Culture Worldwide, Korea Business Central is a free community where members can learn, discuss and network about Korean business, with affiliated offices in Ansan, Korea; Dallas, TX and Carlsbad, CA.
About Korean Consulting & Translation Service, Inc (www.koreanconsulting.com)
For nearly a decade, Korean Consulting & Translation Service, Inc. has been helping clients overcome the formidable obstacles in Korean work, enabling them to achieve their goals. The company's two main business areas include Korean translation services and Korean business consulting.
About Bridging Culture Worldwide (www.bridgingculture.com)
Bridging Culture Worldwide is a global firm that offers training programs and consulting to help management and employees appreciate and understand Korean culture and business. BCW programs focus on optimizing communication within organizations across North America, South Korea, and globally.
# # #
Tuesday, January 26, 2010
Neo-Matriarchal Korea?
I see more women in the Korea workplace. They add much and are excellent team members. Much has changed over the past few years. Still, from my perspective this article exaggerates at least with regard to the major business groups the role of women. Since the major Groups are hierarchical with seniority based promotions, it will take more time for women to be in key positions within the major companies.
Korea Times notes
The remnants of patriarchy are fast disappearing as women assume increasingly bigger roles, the phenomenon that some experts dub as the advent of a neo-matriarchal society.
Examples of the strengthening of female power are everywhere including national exams, economic activities and political participation although in some areas males still remain dominant.
Historically, males have ruled in the national exams to become high-ranking officials, diplomats, prosecutors or judges in Korea due in no small part to masculine-oriented Confucianism.
But things have been changing rapidly. Among the three most popular exams, successful female applicants account for about a half of the total in the administrative, diplomatic and law tests.
The female proportion is also rising in conservative financial businesses where there are no female CEOs at major banks, insurance companies, asset management firms, futures companies and government agencies.
"An increasing number of the highly desirable financial jobs such as ones at the Bank of Korea or the Financial Supervisory Service are being taken by females," said an official at the central bank.
"Currently, the gender disparity is severe at senior levels. As a rising number of females fill junior level vacancies, however, the disparity is likely to weaken in the not-so-distant future. In other words, the voices of women will get louder," he said.
The demise of patriarchy is felt not merely in the workplace but also at home where housewives make more and more important decisions, according to a survey by Statistics Korea.
The state-run agency found early last year that 90.4 percent of housewives take charge of most day-to-day decisions.
On topics such as moving house that were conventionally decided by men alone, 85.1 percent of women took part while a mere 14.2 percent of homes were found to stick to the traditional fashion of depending solely on the male.
Robot Business
Businesses are quickly taking note of the paradigm shift from the male-oriented society to the female-centric one.
Korean robot makers said one of the biggest trends was the advent of female opportunities.
"It is obvious that an increasing number of women will partake in economic activities, while they also give birth to a decreasing number of babies," said Choi Seong-gu, an economist at the Hyundai Research Institute, who came up with a roadmap for the robotics industry this month.
"The industry is ready to embrace this change. For example, the necessity of robots will rise due to the low birthrates, particularly in the household chores sector as women will be busy dealing with social activities in years to come," he said.
Korea Times notes
The remnants of patriarchy are fast disappearing as women assume increasingly bigger roles, the phenomenon that some experts dub as the advent of a neo-matriarchal society.
Examples of the strengthening of female power are everywhere including national exams, economic activities and political participation although in some areas males still remain dominant.
Historically, males have ruled in the national exams to become high-ranking officials, diplomats, prosecutors or judges in Korea due in no small part to masculine-oriented Confucianism.
But things have been changing rapidly. Among the three most popular exams, successful female applicants account for about a half of the total in the administrative, diplomatic and law tests.
The female proportion is also rising in conservative financial businesses where there are no female CEOs at major banks, insurance companies, asset management firms, futures companies and government agencies.
"An increasing number of the highly desirable financial jobs such as ones at the Bank of Korea or the Financial Supervisory Service are being taken by females," said an official at the central bank.
"Currently, the gender disparity is severe at senior levels. As a rising number of females fill junior level vacancies, however, the disparity is likely to weaken in the not-so-distant future. In other words, the voices of women will get louder," he said.
The demise of patriarchy is felt not merely in the workplace but also at home where housewives make more and more important decisions, according to a survey by Statistics Korea.
The state-run agency found early last year that 90.4 percent of housewives take charge of most day-to-day decisions.
On topics such as moving house that were conventionally decided by men alone, 85.1 percent of women took part while a mere 14.2 percent of homes were found to stick to the traditional fashion of depending solely on the male.
Robot Business
Businesses are quickly taking note of the paradigm shift from the male-oriented society to the female-centric one.
Korean robot makers said one of the biggest trends was the advent of female opportunities.
"It is obvious that an increasing number of women will partake in economic activities, while they also give birth to a decreasing number of babies," said Choi Seong-gu, an economist at the Hyundai Research Institute, who came up with a roadmap for the robotics industry this month.
"The industry is ready to embrace this change. For example, the necessity of robots will rise due to the low birthrates, particularly in the household chores sector as women will be busy dealing with social activities in years to come," he said.
Thursday, January 21, 2010
Korea WEST Internship Program 2010: MEST Endorsement
Korea WEST allow qualifying university students and recent university graduates from South Korea to enter the United States for a period up to 18 months on J-1 Exchange Visitor Program. This visa will allow students the opportunity to study English and American business practices, participate in internships, and travel independently at the end of their program. BCW has been a strong supporter of the program since its inception.Here is a recent endorsement letter by the Korea Ministry of Education, Science, and Technology. (Click on image to enlarge)
For more information Click Here
Monday, January 18, 2010
Samsung, LG, Hyundai Kia, SK: What's Your Korean Culture Plan for 2010?
The new year is shaping up. I hope you had the opportunity to review my 2010 Looking Forward Korea Executive Commentary. Click Here for link.
That said, it’s time to consider Korea business and workplace focused training for the team.
Korean culture training within your organization should be a constant and never ending process. In addition to providing new team members with awareness and skills, provide all team members and key management with coaching and ongoing training. More significant, Korea is constantly changing--so staying up to date is vital. I have deep insights—and stay current daily.
I have 2 suggestions for training in 2010.
One option is quarterly workshops providing insights into modern Korean business and the workplace that directly impact your company. Additional topics can include new Korean management and communication styles, business norms, and workplace etiquette.
The intent of each of the 2-hour workshops is to build upon the current experiences of the team, while providing new understandings.
Option 2 is our Korea 2.0 program. This training shares insights into where Korea, its economy, and markets are headed.
It was especially designed for management and teams of Korea-based global firms, those involved with ventures in Korea, or those working with Korean companies.
A key aspect of BCW's Korea 2.0 is its focus on future trends now beginning to unfold.
Korea is noted for its dynamic fast paced society and workplace. Korea 2.0 looks deeply into the dramatic changes occurring in industry and the workforce, along with the impact of globalization and striking up market trends. If your work and business is tied to Korea, knowing what to expect as we pull out of the global recession will only better prepare you and your team.
All programs can be offered to groups and/ or executives.
Please contact me today to discuss your needs for 2010.
I’m available 24-7-365 at 1-310-866-3777 or by email at dsoutherton@bridgingculture.com.
DS
Friday, January 15, 2010
Korea WEST Internship Program 2010: Promotes Goodwill
American ColleaguesAgain for 2010, BCW has been asked to recommend top U.S. firms well suited to offer internships to Korean university students. This is a great opportunity to promote goodwill between the U.S. and Korea. The Korean interns will learn about U.S. business and your company will have access to quality interns who are motivated to perform and learn.
I was hoping you would offer an internships. The internships can be flexible 6 to 12 months. The interns have English language skills. Concerns such as health insurance, placement costs, and visas are at no cost to your firm.
Questions? Next steps? I'd be happy to discuss at your convenience. 1-310-866-3777 dsoutherton@bridgingculture.com
Some details... This is the second round of the WEST program.
Resumes are ready for review. Click Here
The WEST (Work, English Study, and Travel) Program will allow qualifying Korean university students and recent university graduates to enter the United States for up to 18 months on J-1 exchange visitor visas. The program required them to study English and participate in a professional-level internships.
WEST is the result of a bilateral agreement between the governments of the United States and the Republic of Korea. The program will be coordinated through Department of State approved sponsoring organizations.
Tuesday, January 12, 2010
GM Daewoo's Fate
I feel GM Daewoo, once a huge success story, will see its presence in Korea erode. With GM's plan to relocate more Korea model production to the US, GM Daewoo's export numbers will drop even more. Once the Number 3 Korean car maker, in the wake of the global auto meltdown, Hyundai and Kia have gained even more local ( and global) market share. Hyundai and Kia have topped 80% now in Korea. GM Daewoo continues to slide. Reducing their export production only adds to the situation. Chosun Ilbo notes
GM to Move Gentra Production to U.S.
One more GM Daewoo model made in Korea for export to foreign markets will be produced in the U.S.
GM said Monday that the Gentra subcompact (Chevrolet Aveo in the U.S.) will be manufactured at its Orion Township plant in Michigan beginning late this year to be sold in the U.S. from early 2011. The U.S. plant will produce 160,000 Gentras a year.
GM decided in November last year to move production of the Lacetti Premier (Chevrolet Cruze) from GM Daewoo's Gunsan plant to its Lordstown plant in Ohio from April this year.
In 2008, GM Daewoo shipped 93,000 Gentras and 30,000 Lacetti Premiers to North America. With production of the two models moving to the U.S., GM Daewoo's exports to North America will stop completely this year.
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