Thoughts on Korean Business by Don Southerton

I watch Korean society. Over the past year and in my 3 recent fall 2008 trips to Seoul, I see the rise of Korea's young urban professionals. Outside Korea being a status conscious society, it's rare to see young urban Koreans that are not well groomed. BTW I see this look as very professional and a plus for a nation looking to compete in global markets. I know this look and mindset well, too. In the 1980s, I was a Yuppie--young urban professional. ( see Yuppie) Outside fashion, watches, and food-- I see "drink" as a yuppie trait. This article in Korean Herald appeals to Koreans getting ready for the Holidays and New Year. It just confirms my observations and thought process. In fact, one would have seen similar articles in the New York Times in the 1980s. For me it's deja vu. Korea Herald notes... For most, New Years is a time of resolution and closure, a time to celebrate the safe yet tumultuous passing of the previous 365 days. But for those who love food an...

Seasons Greetings As the holidays approach, you may wish to greet your Korean colleagues with: Sae hae bok man i ba deu say yo! (Seasons Greetings) (I will modify the Romanization for easier pronunciation). Hint: Break the greeting into: sae hae bok mahne bah deu say yo In South Korea , the government recognizes Christmas as a public holiday. Christians, who make up about 30% of the population, celebrate the occasion as a religious holiday. Like in the West, both Christians and non-Christians may engage in some holiday customs such as gift-giving, sending Christmas cards, and setting up decorated trees. Children have embraced Santa Claus, whom they call Santa Grandfather. Sae hae bok man i ba deu say yo! works well both in person, in a card, or an email. It is a common seasonal greeting into the new year. For those wanting to send someone Merry Christmas use: Sung tan jul chuk ha. In person, "Happy Christmas" is best. On behalf of myself and Bridging Culture Worldw...

Last week when I was in Korea, I hosted a team of global developers in a visit to Hyundai Kia Motor Company HQ and their R & D Center. Our focus was high level meetings on Hyundai and Kia Green technology. Pulling up in front of the HMC HQ, my client's black $80K US ( $150 K in Korea w/ VAT) Cadillac Escalade drew lots of attention. Once inside the HQ, one of the EVPs noticed the new Kia Soul. He said, " Wow, that cool, I want one them." I was a little surprised. Having been around Kia discussions of the Soul for years, I saw it as a Gen Y car. Later at the R & D Center, my clients--all Baby Boomers--were able to look the Soul over....they love it. They all want one--along with their BMW, etc. So, I expect great things from the Soul in 2009. It could be the year's big hit, even with the Baby Boomers. BTW Here's a great link on the Soul http://kia-buzz.com/?p=730 Onward

I'm on tonight's KAL flight back to Korea. Many people have been asking me about the status of the Korean economy and specifically the car industry in the wake of the global fiscal meltdown. I plan to carefully observe and sense the mood in Korea, especially among those at Hyundai and Kia. A month ago when I was in Korea, things were still in hyper mode and upbeat. I'm sure management in Korea will be quizzing me on the U.S. economy and the Big 3 bailout. Look for my updates...

This is no surprise. Incheon Airport is hassle free. BTW I'm headed back to Seoul next week. 1.  Incheon International Airport has been named 'Best Airport in the World' by respected business magazine Global Traveler for three years in a row. In a survey conducted on airport service among some 31,000 readers, Incheon International Airport scored the highest, followed by Schiphol Airport in Holland, with Singapore's Changi Airport and Hong Kong's Chek Lap Kok taking third and fourth places, respectively. The magazine, which has a circulation of approximately 100,000 copies worldwide, conducts an annual survey and awards the best airport, airline, hotel, and travel destination. The prize-giving ceremony will be held in Los Angeles on Jan. 15. Chosun Ilbo 2. A leading travel news and ranking company has named Korea's Incheon International Airport best airport in the world. The British-based Official Airline Guide or OAG, awarded the country's biggest airport t...

To say I'm watching Korea's economy is an understatement. Things change weekly. As the Number 5 auto producing nation, Korea 's car manufacturing is a great indicator. For Hyundai, its the first cutback in a decade. On the other hand, it's a good thing. Korean manufacturers tend to be top-down. Responding to the market is a better policy. Korea Herald notes.. As both domestic sales and exports slump, local carmakers are cutting back production and taking other cost-saving measures. Yesterday, one of GM Daewoo's two assembly lines at its plant in Bupyeong, Gyeonggi Province began a month-long break. The other production line at the plant will go on a two-week break from Dec. 22 until Jan. 4 when both lines will resume production. Production at Hyundai Motor Co., which had maintained until last month that it had no plans to cut back production, is also being slowed to match the falling demand. The company halted overtime production at most of its domestic plants, cu...