Context is everything. To really understand Korean business culture, you also need to understand parts of Korean history, economy and typical Korean social concepts. Below are some statistics about it. Korea set a world speed record achieving the transformation from an agricultural to a high tech country. Food delivery in Seoul epitomizes this culture, with meals arriving swiftly at any location. Restaurants serve food in minutes, and even weddings and construction projects are quick.
The km Gyeongbu Expressway was built in just over two years. Seoul boasts fast public Wi-Fi, reflecting its dynamic nature. Even King Sejong the Great, the fourth ruler of the Joseon Dynasty and creator of the Korean script Hangul, noted the need for speed in the royal annals. When you mention Korean business, you also have to mention Chaebol. These companies have hundreds if not thousands of subsidiary companies on LinkedIn.
According to George E. With government support, these conglomerates continue to wield significant influence over the economy. However, they are often criticized for hindering small businesses and independent entrepreneurship through unethical and corrupt practices. In , Korea received the highest possible rating of for both wage rates and low tax burdens with Spain next at 71 and the U.
Now that we have some historical context, we are going to dive into the most important social concepts that are vital in doing business in Korea. Koreans often exhibit Chemyon behavior to align with social expectations, sometimes conflicting with their true selves. Historically, self-shamed Chemyon internal shame was emphasized, but contemporary Korean society places more importance on other-shamed Chemyon external shame. This shift reflects broader social and cultural changes, where outward demonstrations of ability and morality are now prioritized over internal moral reflection.
Openly contradicting, criticizing in front of others, or patronizing can damage business relationships. Instead, offer sincere compliments, show respect, and engage in actions that boost self-esteem. Jeong also encompasses concern, warmth and loyalty. It is a very deep bond between people or things. High-context and low-context cultures are concepts in anthropology that describe how much context influences communication in different cultures.
