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First Contact
Meetings
Negotiating
KIBUN
Conclusion
Sources
Notes

Doing Business in South Korea

SETTING-UP the FIRST CONTACT Personal connections are key to doing business in Korea. Similar to other Asian countries, very little distinction is made between business and personal relationships. Thus, cultivating close personal ties through patience is most important if one wants to succeed. Indeed, the best way to gain entry is through introduction by a mutual friend.

Should a personal introduction prove infeasible, the businessperson still has several courses available to him or her via group meetings. For example, joining a trade delegation is one way to meet Korean businessmen. In the event that this channel is pursued, only one person should speak on behalf of the group during meetings with the counterparts. This person should be the most senior in rank, and if possible, age, in the group as the Koreans defer to seniority.

Another way to get introduced to Korean businessmen is through the South Korean Consulates General, banks, or consultants. It would be very beneficial if these people know the person one wants to do business with personally. A letter of introduction should be sent to the Koreans before any contact is personally made by the businessperson.

 

 

 

 



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