Memorandum

TO: FROM: SUBJECT: DATE: JOSE GOMEZ KRYSTAL PIMENTEL SOUTH KOREA CULTURAL BUSINESS NOVEMBER 20, 2013

The purpose of this memo is to inform you about the culture, cultural business, and business etiquette that demonstrate in South Korea. This memo will also explain how the business world is different than in the United States.

South Korea In Eastern Asia exists land named Korea this land is divided between North and South Korea. There is approximately 50 million people living in South Korea and its capital Seoul which is in the heart of Korea and it is one of the most famous tourist attractions. In Korea, family is the most important aspect of life since actions of one family member affects the rest. As interesting as the culture can be there are other contributing factors to the uniqueness of this country. It is said to be writer responsible, which are concise and clear, since many of the business related connections are from other parts of the world and many do not speak fluent Korean. The language is the most important aspect of this country, it is high context. It is very formal as well as questionable in which it compares itself to Japan. This leads to the culture in which Korea is run with.

Culture Nothing in South Korea would be possible if it werent for its academic environment. It is known that in order to be successful one must enter a prestigious university which is very competitive. These universities are specialized in certain academic fields which divide the arts and engineering. In the past 5 decades South Korea has had an economic growth of 5%. Most of their money comes from manufacturing industries, banking, and doing exports to other countries. The main jobs are concentrated around engineering since it is a growing city, South Korea

expects to level up and be at the same level as Japan. A big part of business is their entertainment, with K-pop (Korean pop music) and Korean TV dramas they which are watched from Tokyo to Beijing to the United States, their cultural influence around the world has continued to grow. Today, the gender differences are not very controversial. Women have near equal status, but if they happen to graduate with better marks than a man it is most likely that the wont be hired or paid the same amount. In order to understand how the Koreans think one must be able to accept their cultural values. It is quite difficult to find a job with a Korean company since one has to look for certain opportunities and is not who you are but who you know.

Business Etiquette In Korea, the way one introduces himself is by a third party member and then depending on what the person is like you either bow or shake hands. Like in the United States it is common to exchange business cars as well as stating your intentions and authority level. When receiving a business card you must grab it with both hands and read it thoroughly and one should never put away the card since that would show disrespect. For someone who is not fluent in Korean, it is wise to send brochures and proposals in the Korean language in order to reduce any misunderstandings. Koreans are very particular with their names, and while addressing them one must use their title and their last name. It is important to connect and have a good relationship with whoever you are doing business with, even gift giving is acceptable.