Thoughts on Korean Business by Don Southerton

I found this article on Korean apartment dwellings interesting. It centers on a French study. The observation that speculation and wealth building drives apartment ownerships is true. But, it's not key. The author when trying to understand Korean desire for apartment housing fails to recognize the strong communal bonds. Korean society in contrast to the French is a highly collective culture. Moreover, Korea is a status culture. Many of Korea's top apartment complexes convey high status. In fact, where one lives in Korea speaks volumes. Why Are Koreans so Addicted to Apartments? Chosun Ilbo Will a recent boom in townhouses bring a change to Korea’s apartment-bound housing culture? Apartments account for a much bigger portion in the Korean housing market than in other countries. The total share of apartments in the housing stock jumped from 13.5 percent in 1985 to 37.5 percent in 1995, By 2005, it was 53 percent.In 1979, there were still more single-family houses than apartm...

Yesterday was a long day (5am-12am), the tragic events at Virginia Tech required I watch reactions unfold here and in Korea. I see little impact on US-Korean day-to-day business. My concern is for Korean teams and their families. {Especially, their kids in schools here). More so today, since it dominated Korean press and media last night (Wed. K-Time). I continue to advice great sensitivity and understanding. This commentary gives some insights... Koreans are a very sensitive people. Much of this stems from their sense of self, which is a group identity as Koreans. They feel what reflects poorly on one Korean, reflects poorly on all Koreans. This mindset is very different than nations like the US, Canada, the UK and Australia, which are highly individualistic--one person's actions not connected to others. My goal as a Korean culture consultant is to point out where cultures differ and learn from the differences. With regard to Virginia Tech, seeing Cho Seung Hui's personal a...

An aspect of this Blog is to look at Korean culture, society, and commerce and then drawing comparisons and showcase differences. With globalization, goods cost similar in developed nations. This Korea Times article points out the narrowing gap in costs between the US and Korea. I'm not shocked since over the past 20 years I've seen the gap narrow. South Korea's consumer prices have risen rapidly over the last few years, narrowing the gap with those of the United States. If the average consumer price level in the U.S. is put at 100, that of products sold in South Korea is 95 as of the end of December last year, the National Statistical Office (NSO) said, citing data from the Organization for Economic Cooperation and Development (OECD). This means a product sold at $100 in the U.S. is priced at $95 in South Korea. The price gap between the two countries has narrowed 13.1 percent from December 2004, when the price index for South Korea was at 84. The narrowing price gap betwe...

BCW Executive-level Commentary: April 2007 Several times a year I craft a commentary; Globalization, tends to be a dominant theme. It is, too, for this Bridging Culture Worldwide executive report. A Global Audience Last week I conducted a Webinar. The Internet-based session’s topic was “Driving Change in Korean-based organizations.” It was a skills-based Webinar in response to feedback and observations I’ve had of teams working with Korean-based firms. I crafted the presentation for American workers and middle-level management who are either overseas affiliates of Korean-based organizations, or American teams and managers who have operations in Korea. During the weeks prior to the Webinar, online registration began to include a number of global teams from Europe and India, including Koreans (in Korea) who worked for American-based firms. Regardless, they all sought change in their Korea-focused organizations. The Webinar’s global audience required that I mold the presentation to addre...

"White Collar" women in the Korean workplace continues to increase. My work with Korean firms confirms this even in companies where women once only served as admin assiatants. A Korea Times article notes, Korean women are increasingly playing a significant role in the corporate world as more companies hire women amid rising female participation in economic activities. According to the Financial Supervisory Service (FSS) Tuesday, the number of female workers employed by 69 listed firms affiliated with the country’s 10 largest business groups totaled 80,129 as of the end of last year, up 47.6 percent from 54,274 four years ago. In comparison, the number of male employees increased 18.2 percent to 344,746 over the same period. Female workers accounted for 18.8 percent of the total 425,863 employees last year, up from 15.7 percent from 2002. An increasing number of women choose work over marriage and also a large number of married women continue to work even after having a famil...

I have an interest in Korean consumerism. The service at Seoul's large department stores is great. More so, they are very competitive. Department stores are vying to attract shoppers with unique customer services amid heated competition in the retail business. Lotte, the nation's leading department store, provides the "Red Cap" service in which part-time employees wearing a red cap are positioned at each gate to help customers carry their shopping bags to their cars or subway stations. It also offers a shoe-cleaning service to help customers freshen up while shopping. With a hand-held sterilizer using infrared rays, shoppers can clean and deodorize their shoes for free at customers' lounges or shoe counters. Ha Soo - yeon , a public relations official at Lotte, also said Lotte has special lounges for men in its main store in downtown Seoul and its Incheon store. Male customers can take rest there while their wives or girlfriends shop. The men's lounges have t...

Dear Friends, Curious about Korea business? Looking to drive change in your organization? Facing challenges with no resolutions? I can help… Bridging Culture Worldwide and I would like to invite you to a Webinar on driving change in Korean-based firms. I'll be speaking on my insights and experiences working with Korean teams. You may also wish to have someone on your team attend. They are also welcome and just need to register. The live Webinar is scheduled for Wednesday April 4 at 11:00 PST (2pm EST). I think you will find the Webinar informative. Please log in about 10 minutes prior to start time. Please register here: Register Today! Onward, Don