Thoughts on Korean Business by Don Southerton

In my previous post, I pointed out that it was vital to anyone working with Korean firms to understand the specific dynamics of Korean business and specific firms.   In addition, in past posts I noted that culture and norms varied among Korean firms. LG is among the most progressive. But, just because LG is changing, I wouldn't expect other firms to change soon.  Korea Media... LG Electronics said Tuesday it will replace at least one third of the Korean heads of its 84 overseas operations with locally hired employees in the next three to four years in an effort to become a ``company with no nationality.'' This is a bold reform initiative for a subsidiary of a South Korean conglomerate, where in the past important corporate positions have been filled exclusively by loyal Korean employees regardless of location or the nature of the business. LG have already appointed several foreign specialists to the posts in its headquarters, such as the roles of chief marketing officer and...

One of the most rewarding aspects of my work is training global teams on Korean business. An engaged class is my goal. This only occurs when the training meets the participant's needs.  Key to this is giving teams practical skills and workplace tools. Sadly, I find that many trainers and consultants are generalists and know little about Korean business and specific Korean companies 2008. I focus on Korean big business and workplace 2008.

Point One Spending a week in Seoul gives me the opportunity to observe, listen, reflect, and comment. On this trip I worked with a diverse non-Korean team, helping them to better understand Koreans, Korean management style and business culture. This team was very global, having worked for a diverse group of companies. In the past, my Korean client had offered these employees a rather generic cross-cultural program where the trainer taught about the general differences between cultures, not the specifics the teams needed to successfully interact with the Korean management assigned to their home countries. This year I suggested a different approach with training that centered on the specifics of Korean business including workplace and management style. My reasoning is simple—the participants are mid-level management with previous careers that had them working for a number of global firms. They didn’t need cross-cultural understanding or some generic details on Korea—they needed additiona...

I'm en route to Korea.  Once in Seoul,  I will compose a commentary on my observations, discussions, and insights. Look for the update later this week. Questions? Concerns? Inquiries? All Welcome DS

True Global Business I was chatting with a Japanese friend who works for IT firm in the San Diego area. We meet at Starbucks and often discuss global and Asia-focused business. In fact, we both return to our offices around 3 pm and reach out to Asia. I look to Korea; he looks to Japan. During the recent conversation, my friend shared how he received a call from Japan at 11 pm PST. A global Japanese firm urgently needed some special IT equipment. Usually, firms will require a couple of competitive bids before placing an order. My friend noted that since no other North American firms were available ( i.e. 2 pm EST, etc), he got the order--the deal signed by 1:30 am. In our Starbucks discussion, we agreed that to be a True Global Business, teams need to be available 24-7-365; and that actually most global businesses still operated with traditional fixed hours. In many cases voice mail or emails might be received 24-7, but responded to during normal hours of operation. Symbolism vs. ...

My previous post notes cultural aspects of global online social networking. I cite Korea-based Cyworld. This article gives more insights into Korea social networking and Cyworld. Korea Times Finding old friends and peeking at ex-boyfriend's photo albums are what Cyworld could do for Internet users. But the popularity of such social networking sites is beginning to wane in South Korea, as people have become fully connected with each other on the Internet and do not expect more networking in the virtual world. Both local and foreign-made online community sites are losing growth momentum here this year, unlike their growing popularity in the United States, Europe and the rest of the world. SK Communications, the operator of Cyworld, said Friday that its revenue from the service decreased by 6 percent in the first quarter of the year, compared to the same period last year. Its sales were 19.3 billion won in the first three months of the year, down from 19.8 billion won in the previous ...