Thoughts on Korean Business by Don Southerton

By Don Southerton, Editor On Wednesday July 20, 2011 the World Trade Center San Diego hosted an Asia Desk: Korea workshop. The event centered on opportunities that Korea offered American businesses. I was honored to join KOTRA Trade Commissioner and Director General Won-Sok Yun. Together we shared "why Korea" offered US businesses and especially those in San Diego growth potential. Director General Won-Sok Yun Participants represented a wide range of business sectors For details on the presentation, the WTCSD will be posting a link with the PPTs. ( Check their site).  For more information on doing business in Korea, please contact-- Dsoutherton@bridgingculture.com

Special Announcement I'll be a guest speaker on Wednesday July 20, 2011 at the World Trade Center San Diego Asia Desk Business Series: Korea. I'll be joining KOTRA LA's Chief Trade Commissioner and Director General Won-Sok Yun and his team. I'll be sharing insights into doing business in Korea, including finding the right Korean partner, structuring your market entry strategy, and how to avoid common pitfalls. For more information go to:   WTCSD-Korea

By Don Southerton, BCW Editor Kia Motors America has long supported their American teams. (see Case Study) In fact, they provide a wide range of training and coaching to their teams--from including Korean culture awareness in New Employee Orientation to 6 week Korea 101 and Korea 201 training programs. Kia Motors Company's Korea HQ also hosts a number of programs in Korea. Together the KMA team have opportunities to learn about Korea and Korean culture, norms, business practices, and expectations. BCW CEO Don Southerton shares insights into Korean business culture I recently worked with the KMA summer intern program. The group of local California university students learned about Korean business culture, trends, and Kia Motors, which through quality and design is gaining ever increasing market share and popularity.

2012 년 겨울 출간 예정 책 소개 최근의 현대차 성공의 원동력은 한국 그리고 현대차의 역사에 뿌리를 두고 있는 기업문화이며 , 그 핵심에는 Hyundai Way 가 있다 . 이 개념은 높이 평가 받아오긴 했지만 쉽사리 말로 정의 내리기는 어렵다 . GE Way 나 Toyota Way 처럼 , Hyundai Way 는 현대차의 성공 뒤에 숨어있는 경영 원리이며 사업 원칙이다 . 흥미로운 사실은   신문 기사나 보도 자료를 넘어서서 이와 같은 현대를 제대로 이해하고 있는 사람이 드물다는 점이다 . The Hyundai Way 는 독자들에게 이 자동차 메이커의 과거와 현재 그리고 미래에 대해 깊은 통찰력을 전해줄 것이며 , 현대의 고유한 기업문화와 경영 모델 , 미래상 , 그리고 그 비전을 제시하는 , 영어로 씌어진 최초의 책이 될 것이다 . 지은이 소개 저술가이자 한국관련 문화역사가인 Don Southerton 은 기업가 정신이나 한미간의 사업벤처를 중심으로 책을 저술해 오고 있다 . 또한 저자는 한국 시장이나 한국의 글로벌 사업 등의 주제에 대해 미디어 논평도 활발히 해오고 있다 . 최근에 저술한 책 , Chemulpo to Songdo IBD, Korea’s International Gatewa y 는 2009 년 8 월 송도국제업무단지의 오프닝행사와   인천세계도시축전을 통해 공개되었다 .  For more information contact Dsoutherton@bridgingculture.com

By Don Southerton, Editor I'm a graduate of the University of Colorado (B.A and M.A.). I've done post-grad classes at USC, UCLA, and with the Korea Intercultural Institute of California. Moreover, I was an instructor at the United States Military Academy (USMA) at West Point in the 1980s. That said, over the past few years because of my work with and support of the University of California San Diego Graduate School of International Affairs and Pacific (IRPS) I feel the strongest academic ties to IRPS and its Korea Pacific Program. Outside attending a number of IRPS sponsored high profile lectures over the years, I have often collaborated with the professors and students. At times, IRPS graduate students have also served as interns for my firm Bridging Culture Worldwide . They have added considerably to numerous Korea-facing projects and publications like Chemulpo to Songdo International Business District. Finally, I've been active as a mentor and advisor for IRPS graduate s...

By Don Southerton, BCW Editor For those in Scandinavia and interested in Korea-facing business, I highly recommend Biznetasia. Biznetasia has a mission to engage Scandinavian companies and individuals in the fast developing Asian market. Through education and inspiration we hope to create future business opportunities for Scandinavian companies in Asia, as well as Asian firms in Scandinavia. Biznetasia provides tailor-made study tours, theme tours, lectures, seminars, and daily news. Their current focus is South Korea, Japan and China. For more information, visit their website at Biznetasia .

Contact KOREA Recruiting Skills Workshop Contact KOREA will be holding a recruiting workshop for UCSD students interested in working for companies in South Korea. Contact KOREA will share practical skills for those interested in working for a Korean company. This workshop is open to all students, recent graduates, and professors. Date:  June 2, 2011 (Thursday) Location:  University of California San Diego, Robinson Building Complex School of International Relations and Pacific Studies, Room 3201 Time:  2:15 P.M. – 4 P.M. Topics:  WHY KOREA?    South Korea has become not only one of the top high tech and design -driven economies  Learn why Korea offers unique opportunities. WHAT KOREAN COMPANIES ARE LOOKING FOR, including: 5 KEY POINTS KOREAN COMPANIES LOOK FOR IN A RÉSUMÉ DO’S &; DON’T’S FOR A KOREAN COMPANY INTERVIEW C ontact KOREA AND YOU  Learn how Contact KOREA can assist and support you in your job search Guest Sp...

By Don Southerton, BCW Editor Many in the golf industry were surprised to hear of a bold Korean buyout of Titleist . Widespread media coverage has noted details of the $1.2 billion M&A. That said, for those familiar with Korea it comes as little surprise, Korea has an economy that's robust, lots of its global firms doing well, groups ready to invest in the future, and a strong interest in golf. US legal firms also see lots of new opportunity in Korea, and are shifting teams to focus on Korea-facing business. This AM Law Daily article (one of many) not only shares details on the M&A, but showcases the Korea-facing roles of law firms' Chadbourne & Parke along with McDermott Will & Emery . This is a trend that will grow. I hope all involved recognize that cross-cultural issues will surface, which will need to be addressed through coaching and training. BCW can provide this needed expertise. Chadbourne, McDermott Tee Up $1.2 Billion Golf Equipment Deal Fortun...

By Don Southerton, Editor I recently had the honor of working with KOTRA LA in hosting Korean manufacturers interested in offering their golf-related products to America. KOTRA--the Korean Trade and Investment Promotion Agency works to promote Korean goods and services globally, along with encouraging foreign trade and business with Korea. I support KOTRA both here in the US and in Korea. To get a better feel of the American golf market we toured Golfsmith Xtreme's Irvine, California location. Golfsmith Xtremes are amazing --- 40,000+ square foot superstores and a golfer's dream. Korean suppliers get a VIP tour of Golfsmith Xtreme

By Don Southerton, Editor Lotus Blossom Lanterns Adorn Downtown Seoul This year Buddha’s birth will be celebrated across Asia on May 10, the eighth day of the fourth lunar month. On Tuesday, Korea will observe Buddha's Birthday as a national holiday. Followers of Buddhism head to temples for special services, while non-believers and their families often visit the temples and join in on the celebration. Many temples are located in scenic mountain areas. For Koreans, a popular feature of the holiday is the Lotus Lantern Festival, which offers a range of activities, including a parade of colorful paper lanterns. In Asia, lotus blossoms are often associated with Buddha. Buddhism, once the dominant religion in Korea, has about 18 million followers in Korea. Surveys indicate that over one third of South Korea’s population is Buddhist and slightly less is Christian. Regardless of a Korean’s individual religious belief, Buddhist influence has had a strong impact culturally on the East Asia...

An early version of cover art for the new book on Hyundai culture and global success mindset.

By Don Southerton, BCW Editor April 2011 I’ve just returned from a trip to Korea. Although my daily work centers on Korea-facing global business, much of which is outside Korea, my time in Seoul and the surrounding area keeps me current on Korea’s ever-changing workplace and society. Some things stay constant over the years like non-stop public works construction, new residential high-rises, and office building projects.  The Korean people are always warm and friendly, too. So what’s new and different?   Cars. Hyundai Motors and Kia Motors new designs continue to shine. I was especially impressed by the new Hyundai Grandeur (badged the Azera in the U.S. market). The Grandeur stands out on the streets of Seoul. Regarding the Korean car market, with GM Daewoo now renamed GM Korea, the Chevrolet brand was in a number of high profile locations like COEX and Incheon Airport. More surprising the former GM Daewoo dealers are boldly marketing the Chevrolet brand in cool s...

By Don Southerton, Editor I'm just back from Korea and  my commentary (due out in a few days) will cover Korea 2011--Coffee, Cars, Golf, and Culture. In the meantime.... I devoted lots of time on my recent trip to the franchise industry in Korea. Some continue to be wildly successful. One that stands out was Paul Basset Coffee with 6 high profile and very upscale shops in a city with literally thousands of coffee shops. Paul Bassett Ferrum Tower, Seoul Chic, upscale, trendy, and about $4 for a small cup.

By Don Southerton, Editor To honor the 10th anniversary of the passing of Hyundai founder Chung Ju-yung, the Hyundai family groups are collectively commemorating the patriarch in a memorial services and  photo exhibit.  The Hyundai founder was not only a highly successful industrialist, but also a nation-builder and forward thinker. Korea Times notes Chung Ju-yung, third from right in the front row, shakes hands with an employee at Hyundai Motor’s research center in Hwaseong, Gyeonggi Province, in 1999. Next to him is his son, Hyundai-Kia Automotive Group Chairman Chung Mong-koo. By Kim Tae-gyu Under the leadership of late founder Chung Ju-yung, Hyundai Group climbed to become Korea’s No. 1 conglomerate but the empire showed signs of slowly crumbling after his death at 85 on March 21, 2001.   A long and tumultuous life was marked with both success and tragedy and he lost two sons before his passing. The six sons and one daughter remaining went on to divide th...

By Don Southerton, Editor Few have not been shocked at the devastation from the earthquake and tsunami in Japan. Concerns over partial meltdowns and explosions at the crippled nuclear power plants only add to the situation.  How will this disaster impact Japan and Korea-- strong competitive rivals in automotive and electronics sectors?  Media reports out of Japan (see below) note that auto production has been halted.  The electronic industry also is seeing similar issues.  That said, I feel we'll see a push by Korean global business groups to capitalize on the opportunity. Some Korean securities firms have noted with the disruption in Japanese brands' supply chain, production, and logistics Korean firms will move aggressively.  One also cannot discount some bitterness towards Japan by Koreans who suffered under Japanese colonial rule from the early 1900s to 1945. I see 2 immediate Japanese auto industry concerns surfacing.   1. M...