I. Management Tips

1.   Currently, the most important business issues for managers (natives and expats) in South Korea are:

Please visit the following webpage for “Korea’s 10 Major Trends in 2009”.

2.    Effective leadership in South Korea includes for following behaviors:

-    Vision setting and clear guidance
-    Building rapport with people

3.   Business is not conducted during the following times and or occasions:

-    New Year: January 1
-    Lunar New Year: January 24-27 in 2009 (variable each year)
-    Independence Movement Day: March 1
-    Labor Day: May 1 (Not official holiday but mostly closed except government offices)
-    Buddha’s Birthday: May 2 (variable each year)
-    Children’s Day: May 5
-    Memorial Day: June 6
-    Independence Day: August 15
-    Thanksgiving Day: October 2-4 (variable each year)
-    Christmas Day: December 25

II. Expats in South Korea

1.    What are the most important issues for expat managers in South Korea to get right?

-    To be perceived as an ingroup member to others
-    Accepting the way of working in Korea as valuable competence

2.    How are expat managers typically perceived?

-    Arrogant and rude
-    Too theoretical
-    Outsiders

3.    Some actions and behaviors are appropriate for locals of South Korea, yet should not be adopted by expats who are not completely fluent in Korean practices and culture. 

-    Holding hands in hands with colleagues of the same sex

III.    Clients and Business Development Tips

1.    How can vendors be effective at building rapport with potential clients in South Korea?

-    Non-judgmental attitude and empathy
-    Accepting the hierarchical order between the principal and the vendor
-    Sharing time together, eating, drinking and singing at Karaoke

2.    What should vendors do when visiting a prospect or a client?

-    Put themselves in the shoes of the other side
-    Demonstrate that he/she is on the same boat of the group

3.    What should vendors avoid doing? [ re: rank / formality ]

-    Emphasizing their own interests
-    Underestimating the authority of the counterpart

4.    What are the most important things to keep in mind when negotiating with prospects or clients from South Korea?

-    Relationship is more important
-    The conditions can change all the time
-    Mutual trust is key

5.    What is considered a conflict and how are conflicts handled?

-    When there are differences in perspectives and it is openly known
-    Confrontation is rare and more indirect resolutions are sought

6.    After the end of the contract, the most effective thing one can do to maintain a relationship (for the purpose of getting follow-on business) is:

-    To offer something beneficial; useful information etc. rather than gifts that can be considered bribes.

For additional information, please contact ITAP Asia Pacific, Ltd.