Thoughts on Korean Business by Don Southerton

With the year end, Korean Groups are in the middle of annual end of year reporting, restructuring, promotions, and new assignments. Many Korean members already have begun to share news of the re-assignments, others will find out next week. Samung Group announced a record number of Director and above promotions, we'll see what happens at Hyundai Kia Motor Group and the other Groups. Meanwhile expect some change both at senior leadership and across the teams.   Those receiving promotions should be congratulated--promotions bring considerable status along with a boost in wages. On a more personal level... As the holidays approach, you may wish to greet Korean colleagues with: Sae hae bok man i ba deu say yo! (Seasons Greetings) Hint: Break the greeting into: sae hae bok—mahne—bah deu say yo 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. On behalf of myself and Bridging Culture Worldwi...

By Don Southerton, Editor One constant theme of this blog has been Korean lux and up market trends. We've watched it unfold and develop over the years. We shared it a number of articles, too. This Korea Times article--Cheongdam Sparkles...-- shares insights into Seoul own 5th Avenue. The night view of Cheongdam Fashion Street features trees decorated with miniature bulbs and the red ribbon lighting of Maison Cartier. / Courtesy of Cartier By Kwon Mee-yoo The following is the last in a series of articles featuring tourist sites in Gangnam, southern Seoul, where both domestic and foreign tourists can experience an alluring blend of modern and traditional attractions. ― ED. The Cheongdam Fashion Street stretches from the Galleria Department Store's Luxury Mall to Cheongdam crossroad. The 760-meter-long street is now decorated with dandelion seed-like lighting, attracting shoppers and tourists. The avenue, already studded with fancy stores of well-known luxury b...

By Don Southerton, Editor Year end organizational promotions, re-structuring, and new assignments for teams are part of Korean corporate culture. This occurs sometime between early December and early January, with the changes to senior leadership happening first, and team level changes most often made known the week between Christmas and New Year's Day.  Some years we see less re-organization of the teams, departmements, and division---some years more. Samsung has announces changes in leadership. This Korea Herald notes accordingly... Samsung Group conducted its largest-ever promotion of executives Wednesday [December 1]  reflecting its successful performance in 2010.  In the year-end reshuffle, a total of 490 executives, including Samsung Electronics’ Chairman Lee Kun-hee’s younger daughter Lee Seo-hyun, received promotions The figure was twice the tally in 2009 and increased the number of Samsung executives to around 1,800, company officials said. Lee, 37, was promot...