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First Contact
Meetings
Negotiating
KIBUN
Conclusion
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Notes

Doing Business in South Korea

BUSINESS TIMELINE and CONCLUSION Doing business in Korea has a longer timeline than doing business in the United States. In addition to the role of building a personal relationship with your counterpart, you must leave plenty of room for negotiations. These counterparts will pursue an extreme position but will be prepared to gain some common ground. This way, you and your counterparts will have benefited from the agreement.

In every meeting, be aware that if your counterpart appears curious, you should give the details that he desires. If the conversation returns to social matters, take this an indication that he intends to finish discussing business.

Do not give indications of how long you will be in Korea. Delays in decision making on their part may be strategies in wearing you down to give in to their demands. Therefore, do not talk about deadlines which need to be met. Expect to make several trips to Korea before any agreement could be reached.

 

 

 

 

 



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