Korean Business Speed: Real Fast

For those with ties to Korea as well as popular brands like Hyundai, Kia and now Genesis, we realize Korean business speed is critical — a competitive advantage used to leapfrog past more established rivals.

Kia Motors' Stinger… one fast car

Korean business speed means things need to get done today and now, not tomorrow.

Others, too, have observed similar, and as Automotive News Asia Editor Hans Greimel pointed out in his 2017 article, “Hyundai Motor Group employees pride themselves on a frenetic corporate cadence dubbed Hyundai Speed, a kind of pedal-to-the-metal obsession with doing everything fast. Real fast.”

http://www.autonews.com/article/20170812/OEM03/170819923/hyundai-speed-design-cycles

I, too, have long found it as the driving force in Hyundai’s DNA. In fact, when quizzing seasoned Korean executives on wording for the title for my 2014 book, the term “Hyundai Speed,” was came up often and was strongly recommended.

I noted in my book’s Forward…

In the wake of the recent accomplishments of the Hyundai Motor Group and respectively the Hyundai Motor and Kia Motors brands a question is often raised, “What makes Hyundai so successful? As author, I tackle this question from a cultural perspective, leaving aspects of such as sustainable production networks, ever-changing consumer appeal and brand image staying power for my colleagues in the industry.

My objective for Hyundai Way: Hyundai Speed is simply to share insights into the Hyundai Motor Group — a unique inside view of a unique corporate culture. In addition to the growing number of Hyundai and Kia Motors enthusiasts wishing to learn more about the carmaker…

Moving fast — a common trait

To answer my own question on what makes Hyundai so successful, as well as Samsung and other successful Korea brands, I’d say moving fast — real fast — was a common trait.

That said, moving fast to many Koreans and Westerners working with Korea, means balli balli, a defacto core value impacting everything from immediately responding to email requests for data to launching major projects.

[For the pros- and- con’s of balli balli see my article. PP. 3–4 http://www.bridgingculture.com/assets/toolbox.pdf ]

As for moving fast, here are my 3 takeaways…

1. With short timelines, the focus is then on identifying the critical tasks that contribute most and with quickly moving on to execution.
2. The longer the deadline, the more time gets spent in analysis and discussions with an ever-lessening focus on the task.
3. Noting the Korean decision process can be time-consuming when a decision is made, all come together and move forward

All said when working with Korean leadership and teams understanding their perspective is key…. and allows us to, in turn, “ work within the Culture,” and then provide alternatives. The later, something I strive to provide as a trusted advisor.

Here as needed…Call, Text, or Email… all work.

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