Thoughts on Korean Business by Don Southerton

This week, I’d like to share three popular South Korean chef-inspired restaurant concepts that are moved into the second phase of international expansion. Successful launched in South Korea and Asia, Seoul-based SUN AT FOODS now plans to bring their handcrafted artisanal cuisines to the U.S and the Americas. Mad For Garlic One of my longtime personal favorites, which I have talked about often, is Mad for Garlic that first opened in 2001. They are known for their garlic-specialized Italian cuisine served in rather unique restaurant settings. I feel their secrets are Mad for Garlic’s method of removing the garlic’s pungent smell and unique way of cooking Italian cuisine with a Korean twist. In Korea and Asia they have won the hearts of both garlic and non-garlic lovers. Building on the success of Mad for Garlic are two new concepts Modern Nulung and Bistro Seoul. Modern Nulang Modern Nulang Inspired by 1930s Shanghai Renaissance era, Modern Nulang is the combinatio...

I was pleased to see Hyundai Motor America recently highlight a quote attributed to Hyundai Group Founder Chung Ju-yung. It shared the Founder’s “Desire for Better.” Born in November 1915, the Korean entrepreneurial businessman passed away on March 21, 2001.  I’ve also been asked to share more on Chung Ju Yung. Chung Ju-yung—Hyundai Founder and Honorary Chairman Growing up in rural Korea during the Japanese Colonial era, the future founder of Hyundai, Chung Ju-yung, exhibited entrepreneurialism early in life. Breaking free from Korean agrarian tradition that the eldest son remain at home to tend the family lands, young Chung’s desire to enter business led to his operating a rice store and then an auto repair business while still a young man. Following the liberation of Korea from Japan in 1945 and unshackled by draconian Colonial rule, Chung Ju-yung re-entered the auto repair business and soon after formed a construction company. He named these businesses Hyundai, which...

South Korean President Moon Jae-in The new Korean President Moon Jae-in finished his third week in office...with high public ratings fueled by a strong willingness to communicate and seek out the middle ground. More impressive is Moon started his term immediately upon election without a transition period. That said, his appointments of “activist economists” to key government positions has draw concern... the appointees outspoken in the past with regard to Chaebol… at the core, public demand for holding company structures and measures that support minority shareholders. The challenge is that President Moon's top priority in labor issue, jobs and employment... and the large Groups needed to generate better-paying jobs.... vs. small to medium size business often offering lower wages and benefits. In particular, how to do this without the Blue House (Korea’s White House) past practice of the putting pressure -- direct and indirect – on Samsung, Hyundai, LG, SK and Lotte business ex...