Thursday, March 19, 2020

Tackling Korea Facing Business Under Coronavirus

Don Southerton 2020

To stay proactive here are some of my thoughts for Thursday, March 19, 2020

Like you, I miss meeting in person, travel and much of the daily routine. That said, after more than a decade + of 24/7 virtual and online support for teams in Korea, North America and worldwide, technology today allows us to stay very well connected.

I do however recognize the uncertainty most are experiencing and have blocked off time in my schedule to not only catch up with teams and leadership but feel free to reach out as a sounding board and for a strategic, culturally savvy perspective.

 Here are a few examples… but not limited to these :)
1.     Short term how will Korea HQ's' team and leadership respond globally vs, in their own Domestic market?  i.e. Will HQ work to maintain their Korean workforce,  but mandate overseas operations cut employment, budgets, etc.

 2.     As a caveat, what countermeasures can global subsidiaries recommend to their Korea-based / HQ organization as an alternative to drastic global cuts across the board?  ( I always try to suggest 3 options)   [Same goes for western operations in Korea for a western-based / HQ company who may be pondering cutting backs.]

3.     How can western-based teams and organizations with new and/or ongoing ventures in Korea ensure their Korean partners do not pull back amid the uncertainty?  (This has been common in the past with recessions, the China boycott, etc.)  

4.     Noting Korea’s cross-cultural high-risk avoidance, how do we structure re-assurances?

5.     Noting western cross-cultural frankness, how do we structure constructive Korea facing dialogue and conversations dealing with the Crisis?

6.  As a partner, service provider, or vendor, how can I mitigate Korea-facing / HQ budget cutbacks in programs and services?

 As always, all communication is kept private and confidential.

Don

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