Thoughts on Korean Business by Don Southerton

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Don Southerton   Question?  Don, working with Korea, how can we ensure projects stay on track amid changes and forces from outside of our control. Answer. Great question. I will answer in two parts, in this posting, Part 1. First, the short answer is it’s critical to stay aware and sensitive to not only the scope of the project but the broader circumstances that could impact the work.  One needs a 360 vs. a very linear mindset. In many cases, my work is providing this insight—honed over decades—more art than science. Next, have countermeasures as options already in place. To elaborate on both points… Pondering on the question, it made me reflect on within the Korean workplace that the most savvy, long term staff and executives are both highly intuitive, sensitive and vigilant to all that goes on around them. They read situations and adapt accordingly. Little gets by them. In particular, they even anticipate senior lea...

 Global Experience?  Songdo International Business District, Incheon South Korea In my last post on issues that most hamper successful Korean market entry, partnership, JV or M&A we noted the common challenges western teams new to Korea endure. (Not to mention the mandatory 2-week quarantine for those traveling to Korea…)   I mentioned when issues surface laying on more western teams including lawyers and the “Big Four” to overcome an impasse rarely helps, incurs huge outlays, and at the very least is a costly time consuming, learning experience.    This week, I’d add that the dynamics and experience of working for a Korean company here in the US, the EU, or globally is quite different from working in Korea.    In fact, we see unique cultures develop in overseas offices that differ from the HQ.    In particular, with all the workplace transitions underway in Korea, you can find many more progressive Korea business norms now common practic...

As a trusted friend constantly reminds me, “Don, no one does what you do.” I strive to ensure success and sustainability in dealing with Korea-facing business partnerships through well-communicated expectations and cross-cultural understanding.   It also requires a unique skill set—groomed over decades working with an ever-changing Korea.    I like the story that shortly after an engineer retires, a machine at his former factory stops working. They try everything they can do to fix it, to no avail. Finally, the boss calls up the engineer and asks him to come in and fix it.   The engineer agrees to do so as a paid consultant. He comes in, walks around the machine, looks at a few things, takes out a hammer, and whacks the machine. It whirrs into life.   The engineer presents his former boss with a bill for $5,000. The boss says, "This is ridiculous! What did you even do? I need an itemized bill."   The engineer provides a new invoice ...