Thoughts on Korean Business by Don Southerton

By Don Southerton, BCW Editor, Localization and understanding the market is key in overseas' expansion.  My work centers on assisting with both Korean brands entering the US market and visa versa.  This recent feature in Yonhap and Korea Times shares my views along with others involved in Korea business.  I note that trends in Korean consumerism are changing. For example,"Korea's white collar consumers demand quality, innovation and design appeal. In addition, I see the trend toward 'green' and well-being an aspect." (Yonhap Feature) For brands, becoming Korean is key for success By Jeff Liebsch Contributing writer SEOUL, Feb. 22 (Yonhap) -- On a typical morning, 17-year-old Do Sang-hoon gets ready for school. He eats a bowl of cereal for breakfast, puts on his North Face jacket, turns on his iPod Nano and heads out the door. On the weekend, he heads to McDonald's for lunch with his friends and Indian food for dinner with his family. Scenes like...

By Don Southerton, BCW Editor This column has long followed the Korean car market. Imports are often a topic. This  Korea Herald article points out a younger consumer is seeking imports. The Nissan Cube, Golf 2.0TDI, the Mini Cooper, and Audi A4 2.0 TFSI Quattro seem most popular. Female drivers of imports is on the increase, too. BMW Mini Cooper Korea More Koreans in 20s Buy Import Cars Import car sales to consumers under 30 increased while the percentage of young customers in the overall market including Korean carmakers dropped last year. According to the Korea Automobile Manufacturers Association, combined car sales by local and foreign automakers to consumers in their 20s stood at 140,777 units in 2011, down 6.4 percent from a year earlier. Further, sales to consumers under 20 declined by 17.4 percent to 1,897 units. As a result, the percentage of consumers under 30 dropped by 1.3 percentage to 10.9 percent. The KAMA attributed the sagging sales to young consum...

By Don Southerton, BCW Editor This past week we saw the current Korean administration's opposition seek to "axe" KORUS FTA. In response supporters are pressing to get the FTA enacted ASAP. As reported in Yonhap News Agency, “We believe that the U.S.-Korea free trade agreement is in the interest of the United States, of the Republic of Korea, and of the relationship between our two countries,” A State Department official further noted. “The U.S.-Korea free trade agreement represents a historic opportunity to increase exports, support job creation, bolster both our economies, and strengthen a vital strategic alliance in the Asia-Pacific.” So what's the delay? Here's my update... On a positive note following the 2011 amended agreement for the Korea-U.S. Free Trade Agreement (KORUS FTA) and ratification both by the U.S. Congress and Korean Assembly expectations are that the treaty will be implemented in the first quarter of 2012. Advocates and many critics alike...

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By Don Southerton, BCW Editor It's no secret. I'm a huge Kia Motors' supporter. I like the brand and its people. Their ads, created by David and Goliath , are always so cool and edgy, too.