Thoughts on Korean Business by Don Southerton

Next in my series on the Korean domestic luxury sector is Ssangyong ( twin dragon) and their Chairman sedan.  Chairman W Ssangyong Motor Co., the South Korean unit of China's Shanghai Automotive Industry Corp., has  unveiled its new luxury model to compete with foreign brands in the domestic market. Ssangyong notes that the Chairman W will challenge luxury brands such as BMW and Mercedes-Benz, as well as similar domestic rivals such as Hyundai Motor Co.'s Genesis. In 2006, Ssangyong became a unit of Shanghai Automotive when the Korean automaker was acquired. Ssangyong has enjoyed a long-standing licensing agreement with Mercedes Ssangyong will likely to export the Chairman W to China this year, while it is also eyeing the Middle East, Russia and some European countries, said company officials. The Chairman W will have either a 3.6 or 5-liter gasoline engine and a 7-speed automatic transmission. The price for the Chairman W with a 5-liter engine was set at 100 million won (U...

In addition to most global luxury brands now  available in Korea, domestic Korean car makers offer their own luxury models.  In previous posts I have discussed the Korean car sectors move up market. ( See my previous post on Hyundai new Genesis).  In this Blog, I highlight Renault Samsung.  SM7 For those visiting Korea, you might be suprised that each of the domestic car makers have their own luxury model.  For example, Renault Samsung offers the SM7. The car is built on the Nissan Teana platform, which is somewhat similar to the Maxima offered in the states.  Some Details Renault Samsung Motors uses the Samsung brand name on the vehicles that it manufactures in South Korea.   Renault Samsung is 80.1 percent owned by the French auto giant Renault and 19.9 percent owned by South Korea's Samsung Card.  The Samsung Group, however, does not participate in the management of the joint company. Nissan Roots In the mid-1990s when Samsung launched its car division, it looked to Nissan for ...

Last week when I was in Korea, I braved the cold weather to visit a Hyundai showroom in downtown Seoul. My mission--check out the new Genesis . Now available in Korea, the car is quite impressive. Clean lines and a sharp look. Readers of this Blog and my two eBooks, know I follow and comment on Korea's drive upmarket.  This Korea Times articles gives some more insights. High-end Sedans Korea's high-end sedan market is heating up as local and foreign automakers rush to release new premium cars. Hyundai Motor, the country's top automaker, ignited the competition with the release in early January of its Genesis luxury sedan. Priced between W45-58 million ($44,000-60,000), somewhat less than comparable imported cars, the Genesis sold over 10,000 units in a month, achieving 28 percent of its annual sales target of 35,000 units. Hyundai is also planning the launch of its new Equus luxury sedan. The new model, code-named "VI", will offer rear-wheel drive, a Tau 4.6-l...

For decades, Korea’s rich heritage has been an area of personal interest and study. I see the Sungnyemun also called Namdaemun or Great South Gate as an icon of Korean past. My first sight of Namdaemun was during a trip to Korea in the 1980s. I remember driving by the ancient structure set on a bleak urban island amid a sea of traffic and highway. Over the years, I have come to understand its historic and cultural significance. The 600-year-old gateway was once a key entry into the walled city-fortress of Seoul. I’ve used photographs of the gate in countless workshops and lectures--most often to link modern Korea to its rich past. I have also written about the gate in my historical writings. Several years ago, a pedestrian walkway was build to access the structure. On my next trip to Korea despite frigid weather, I couldn’t wait to visit the site. Subsequent travel to Seoul usually included an obligatory stop at the Great South Gate. On Sunday February 10 as I was preparing to leave on...

I'm in Seoul this week ( February 11-15, 2008). I plan a commentary, Korea 2008: An Update. Topics will include incoming South Korean president, Lee Myung-bak's bold Global Korea views. I'll also discuss the latest in Korean popular culture. Questions, just email or comment. DS

I usually discuss the customs, traffic, generational issues, or family aspects of Korea's traditional holidays such as the Lunar New Years-- Seo l. This Korea Times article highlights another aspect of the Holiday--a time to get cosmetic surgery. What I find interesting is that at this time of traditional gift-giving, plastic surgury has become a gift. Korea Times notes: For those seeking to sharpen their competitive edge in looks, the Lunar New Year holiday, which ran for as long as nine days for some workers, was a golden opportunity to go under the knife. Cosmetic surgeons reported higher inquiries and appointments during the holiday, resulting in a spike in the number of people undergoing surgery. Doctors even cut their holidays to perform operations. A female office worker identified as Park said she had a double eyelid operation during the holiday to prevent people around her knowing she had surgery. ``It's no secret that there are many female workers and students waiti...

The 2008 Lunar New Year celebration ( Seol ) is this week, February 6-8.  2008 is the year of the Rat, which in Asian tradition protects and spreads prosperity. Along with Chusok (the fall harvest festival), Seo l is the most important of traditional Korean holidays. In Korea, Seollal includes gift-giving and family activities that show respect to elders and ancestors. Most Korean businesses are also closed for the holiday as millions of Koreans travel to join their families. I see the holiday, as a great opportunity for Westerners to wish their Korean colleagues. Here is the formal greeting. Sae hae bok mani ba deu say yo (Happy Lunar New Year.) Hint: I'll break down the pronunciation: Sae hae bok—ma ni—ba deu say yo ! Which literally means, Please receive many New Year blessings! Questions, please contact:  Don Southerton and Bridging Culture Worldwide at dsoutherton@bridgingculture.com