Thoughts on Korean Business by Don Southerton

Great News... Over the past several years Bridging Culture Worldwide has provided complimentary updates and insights into East Asia and Korean business. These services have included the Bridging Culture Blog at http://bridgingculturekorea.blogspot.com This resource looks at Korean society from numerous sources. I also add my comments and insights. Over the past year, Bridging Culture Worldwide has added eLearning, a number of publications, (in print and in eBook format), Podcasts, and most recently Webinars to further your understanding. Please visit our site at www.bridgingculture.com to access these services. Bridging Culture Worldwide tm As a business, Bridging Culture Worldwide is a global firm focused on consulting, executive coaching, strategic alignment, and delivering highly effective Virtual and on site training programs--all to better cross-cultural communications between Korean, North American, and global teams. We do this with great passion, 24/7/ 365. For more informati...

I was recently asked about early Korean business ventures by the West. For most of the 19th century, Korea's Neo-Confucian elites held strong isolationist beliefs. They saw the West's inroads into China and Japan as polluting and foul. Gradually Korea opened to the West--American missionaries and businessmen playing an important role. For a detailed study on the opening of Korea to the West, and the early entrepreneurial efforts in Korea see: Intrepid Americans: Bold Koreans—Early Korean Trade, Concessions, And Entrepreneurship

Readers to this Blog, my recent eBook, or attendees of BCW training sessions and workshops know I see Korea's ever- growing coffee culture as a significant insight into modern South Korean urban society. It's also a huge market. One observation on my last trip to Korea was that scores of rivals to Starbucks were popping up. I commented on this in a post earlier year. It seemed that adjacent to many Starbucks, construction was underway by a rival. This recent Chosun Ilbo article confirms my observations on the Coffee War in Seoul. Some 80 take-out coffee companies and 40 sit-down coffee shop companies are battling it out in Korea. The number of new coffee shops that will open this year is expected to total more than 300 as the trend spreads from Seoul's Gwanghwamun, Jongno and Gangnam areas to other cities and suburban areas. The rise of Korea's coffee culture follows the fast-growing trend of eating out, and more people are switching from cheaper instant coffees to m...

I'm often asked "what exactly do you do?" One aspect of my work is research-based consulting. Another dimension is conducting training sessions and workshops. In addition, I also work with a number of non-Korean executives of Korean-based firms, global companies doing business in Korea, or business partnered with a Korean firm. One message I stress is cultural sensitivity. This can be a challenge--most often because we " don't know, what we don"t know." Education and spending lots of time understanding a nation/region's current and past issues is key. In fact, how effective you are in working with Korean teams can often center on how they perceive you understand their country and issues impacting the workplace. In other words, the more they feel you understand Korea, its market, and the company...the more trust and cooperation will manifest. In contrast, I often sense Korean teams feeling some westerners know little of not only the dynamics of ...

The Challenge: Driving Change in a Korean Organization... The Solution... Join us from your desktop on Wednesday April 4, 2007 at 11:00 (PST) as Bridging Culture's Don Southerton presents an informative session on how best to work with Korean teams. This one-hour webinar will provide Insights that include: Understanding cross-cultural differences that impact change. Avoiding pitfalls that stall progress and implimentation. Success hints for driving change. Don't miss this great opportunity. Title:"Working for Change with Korean Teams" Date: April 4, 2007 Time: 11am PST Where: Online Register Today!

In the U.S., sport superstars and Hollywood's elite are American Royalty. They attract great attention. In Korea, it's the leadership of Korea's top family-run conglomerates. This Chosun Ilbo article highlights the popularity of Lee Kun-hee. Chosun Ilbo Samsung Group chairman Lee Kun-hee was chosen as the Chief Executive Officer who Korean job-seekers and job-holders most want to resemble. According to the results of a survey of 1,255 people conducted Tuesday by employment website Saramin (www.saramin.co.kr), 37 percent of respondents selected Lee Kun-hee as the CEO they would most like to emulate. Several more of Korea's top leaders made the list. Following Lee Kun-hee was AhnLab Inc. chairman An Chul-soo with 11.3 percent of the vote, Samsung Electronics vice president Yoon Jong-yong with 9 percent, Hyundai-Kia Automotive Group chairman Chung Mong-koo with 4.7 percent, E.Land Group chairman Park Sung-soo with 3.3 percent and POSCO chairman Lee Ku-taek with 3 percent. ...

Good Morning... I'm often quizzed on pay scales in Korea....This Korea Herald article posts recent stats on Korean wages...I've edited the article to highlight the pay scales. I've also converted the Won to U.S. Dollars in brackets [ ]. Pay ranges from $50k to $35k. This does not include bonuses and perks for upper management such as monthly expense accounts, cars, etc. Most Korean households are also dual income, with spouses working, too... The article notes... Workers in administrative positions such as corporate executives and congressmen posted the sharpest income growth last year among nine occupational groups, according to the National Statistical Office. Administrators - comprising lawmakers, local council members, corporate executives and high-ranking government officials (director-general level or higher) - earned 10.2 percent more year-on-year on average. Soldiers, experienced farmers, timbermen and fishermen, on the other hand, made 10.2 percent less on avera...

Daeborum On Sunday, March 4 many Koreans will celebrate a special traditional holiday commonly called Daeborum. Actually called Jongwol Daeborum, it has been observed for over 1,000 years. Jongwol Daeborum is the first full moon of the new lunar year. In the past, it was thought that because the moon was full, it was a day for driving away misfortune and evil. Thus, the foods eaten and the games played on this traditional holiday have had a hidden purpose of expelling misfortune and evil. Jongwol means the first of the month and Dae means big in Korean. Borum means round moon or full moon. (It’s pronounced as its spelled… “dae borum”). While Lunar New Year’s Day is a family-oriented day, in contrast, Jongwol Daeborum is communal. That means Koreans traditionally started a lunar year with their family and 15 days later celebrate the full moon at a community level. Jongwol Daeborum, then, is a day filled with folk games, customs, and rituals. Nowadays, the celebration is not nearly as si...