|Tips for Doing Business in South Korea|
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”.
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
2. How are expat managers typically perceived?
- Arrogant and rude
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
2. What should vendors do when visiting a prospect or a client?
- Put themselves in the shoes of the other side
3. What should vendors avoid doing? [ re: rank / formality ]
- Emphasizing their own interests
4. What are the most important things to keep in mind when negotiating with prospects or clients from South Korea?
- Relationship is more important
5. What is considered a conflict and how are conflicts handled?
- When there are differences in perspectives and it is openly known
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.
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