Essay on "Korean Culture and Business Relations"

Essay 4 pages (1333 words) Sources: 5

[EXCERPT] . . . .

Korean Culture and Business Relations

Today, the "Land of the Morning Calm" is anything but calm. Indeed, South Korea is booming economically and the southern half of the divided Koreas has emerged from the devastation of the 20th century to become one of the so-called "Asian tigers" that is dominating the global economy. Despite the tensions that exist between the divided Korean states, South Korea enjoys favorable relations with many of its neighbors as well as the international community and an increasing number of transnational corporations are seeking to establish strategic alliances with South Korean companies. Although the Korean people are generous and friendly and foreigners can expect to be warmly received, there are some important cultural practices that must be observed in order to establish and sustain effective business relations in the country. This paper provides a review of the relevant literature to identify the cultural practices that affect business relations in South Korea, followed by a summary of the research and important findings in the conclusion.

Review and Discussion

By any measure, the Korean people have witnessed their fair share of strife and violence over the years and these experiences have manifested themselves in the country's culture. According to Austin (2007), "The business culture of Korea is a fascinating subject. It is representative of North Asian culture norms but has also been forged and tempered over the fiery anvil of the country's history" (p. 7). Although the Korean people can trace their ancestry back thousands of years during which they jousted with first one invader then another, modern South Koreans have been primarily preoccupied with their nuclear neighbor to the north. In this regard, Villegas (2006) reports that, "Korea was born on the frontlines of the Cold War and throughout its existence has conducted its domestic politics within the looming shadow of a reclusive and potentially dangerous North Korea" (p. 37). Traditional Korean culture therefore has a powerful influence on Korean businesses and as a result of the country's cruel subjugation by the Japanese during the early 20th century, a strong desire to win has become evident among many Korean businesspeople today (Austin, 2007). This strong desire to win has been translated into the highest rate of export growth among the top 20 exporting nations of the world and the third strongest economy after Japan and China (Lee, 2005).

Notwithstanding this strong desire to win and achieve, the pace of business itself is somewhat slower than in the West and foreigners should be prepared to invest the time and effort needed to forge lasting relationships with their Korean business contacts before enjoying significant levels of success. In this regard, Austin emphasizes that, "Strong relationships are fundamental for business success in Korea. Building such bonds takes time and cannot be achieved in a single visit; you must be prepared to invest in the relationship to make it work" (p. 8). The South Korean people have also been highly influenced by the forces of globalization, especially in the major metropolitan areas of the country. According to Austin, "The young are embracing the fads of the youth pop culture, which is a phenomenon across the region. Attitudes are changing, but traditions remain strong. They are in fact influencing the new" (2007, p. 8). Even though the pace of business and the formation of relationships may require more time than in the West, the South Korean people can be differentiated from their Japanese counterparts by a sense of pragmatism. For instance, Austin, "Koreans see themselves as being very direct people and they often contrast their approach to that of the 'polite' Japanese. Due to the importance attached to relationships, it is more often the dinner, drinks and karaoke following the business meeting that seals the deal" (2007, p. 8). Like their Japanese counterparts, though, the South Koreans place a high regard on education for themselves and others. In this regard, Austin adds that, "For Koreans, education is fundamentally important. Koreans value being number one and therefore the institutions… READ MORE

How to Reference "Korean Culture and Business Relations" Essay in a Bibliography

Related Essays:

Business Plan for Traditional Chinese Medicine Practitioner Business Plan

Business Plan

This business plan pertains to a new Traditional Chinese Medicine (TCM) clinic, to be located in Koreatown, Los Angeles. The clinic will primarily target the area's sizeable Korean… read more

Business Plan 8 pages (2364 words) Sources: 1+ Topic: Business / Corporations / E-commerce

---

Intercultural Issues in Offshoring of Hyundai to the U.S Literature Review

SHORING of HYUNDAI to the U.S.

Intercultural issues in offshoring of Hyundai to the U.S.

Off-shoring is a business practice that has taken root with the light of technological innovations… read more

Literature Review 10 pages (3236 words) Sources: 15 Style: APA Topic: Business / Corporations / E-commerce

---

Korean Organizations and Their Implications Research Paper

Korean organizations and their implications in a cross-cultural setting" (lecture 2) as your point of departure, please contrast the cultural explanations offered in the article with those that could be… read more

Research Paper 4 pages (1407 words) Sources: 0 Topic: Management / Organizations

---

Impact of American Popular Culture Overseas Term Paper

Popular Culture

According to a senior intellectual the collapse of the Nation is based on the failure of the intellectual, cultural, political and economic policies of the state, it is… read more

Term Paper 15 pages (4214 words) Sources: 10 Style: MLA Topic: Anthropology / Culture

---

Management of Change Campaign Internal Communications Essay

Management of Change Campaign: Internal Communications

Company overview

Tesco is a British-based multinational grocery retail chain founded in 1919 by Jack Cohen. Currently the company is the largest of the… read more

Essay 8 pages (2506 words) Sources: 15 Style: Harvard Topic: Business / Corporations / E-commerce

---

View 100+ more related papers  >>