1 / 7

Doing Business in South Korea

Doing Business in South Korea. September 15, 2008 [Your Name]. South Korea Facts and Figures. Official Language: Korean Capital: Seoul Currency: Won GDP Total (2007 est.): $1.266 trillion GDP per capita: $24,800 Population: 49 million. Importance of the first contact.

vladimir-valenzuela
Download Presentation

Doing Business in South Korea

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Doing Business in South Korea September 15, 2008 [Your Name]

  2. South Korea Facts and Figures • Official Language: Korean • Capital: Seoul • Currency: Won • GDP Total (2007 est.): $1.266 trillion • GDP per capita: $24,800 • Population: 49 million

  3. Importance of the first contact • Prefer to meet face to face • Use last names and titles • Have interpreter available • Have business cards and all materials written in both English and Korean • Be punctual and respectful

  4. Cultural Differences that affect business • In South Korea, businessmen start with a contract and negotiate from there. • In South Korea, large industrial business is generally male dominant. • American businesswomen may find this uncomfortable.

  5. When “Yes” doesn’t mean “Yes”…or “no” • Reluctance to say “no” directly. • May say “yes” when they actually mean “no” • Rather than say “no” they may say “That will be difficult” or “I will need to think about that”

  6. Corruption Perceptions Index • 10 is the highest and best score • 0 is highly corrupt • 5 is the border between countries that do and do not have a corruption problem. • South Korea scored a 5.1

  7. References Kim, Eun Y. Let’s Make a Deal Part 3. Executive Planet. South Korea. Retrieved August 17, 2008 from http://www.executiveplanet.com/index.php?title=South_Korea:_Let%27s_Make_a_Deal%21_-_Part_3 Kim, Eun Y. Executive Planet. South Korea. Retrieved August 17, 2008 from http://www.executiveplanet.com/index.php?title=South_Korea Info Please. The 2006 Transparency International Corruption Perceptions Index. Retrieved August 16, 2008 from http://www.infoplease.com/ipa/A0781359.html NationMaster. Oil refining ability by country. Retrieved August 17, 2008 from http://www.nationmaster.com/graph/ene_oil_ref_abi-energy-oil-refining-ability US Department of State. March 2008. South Korea. Retrieved August 17, 2008 from http://www.state.gov/r/pa/ei/bgn/2800.htm

More Related