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SOUTH KOREA

MGT113 Asian Management

GDP PER CAPITA (CURRENT US$)


GDP Trend
25000 19707 20000 15029 15000 11347 10000 5000 977 0 899 951 967 1036 1156 1349 10655 13451 12094 17551 21653 19162 17078

1624

1844

1752

2000

2001

2002

2003

2004

2005

2006 19707 1349

2007

2008

2009 17078 1752

South Korea 11347 10655 12094 13451 15029 17551 Philippines 977 899 951 967 1036 1156
South Korea Philippines

21653 19162 1624 1844

GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

BUSINESS ETIQUETTE & CUSTOMS IN SOUTH KOREA


Relationships & Communication

South Koreans prefer to do business with people with whom they have a personal connection. It is therefore crucial to be introduced by a third-party. Relationships are developed through informal social gatherings that often involve a considerable amount of drinking and eating. Individuals who have established mutual trust and respect will work hard to make each other successful. South Koreans treat legal documents as memorandums of understanding. They view contracts as loosely structured consensus statements that broadly define agreement and leave room for flexibility and adjustment as needed. Under no circumstances insult or to criticize in front of others. Sensitive matters may often be raised indirectly through the intermediary that first made the introductions. South Koreans are extremely direct communicators. They are not averse to asking questions if they do not understand what has been said or need additional clarification. This is a culture where "less is more" when communicating. Respond to questions directly and concisely.

BUSINESS ETIQUETTE & CUSTOMS IN SOUTH KOREA CONTINUED.


Business Meeting Etiquette

Appointments are required and should be made 3 to 4 weeks in advance. You should arrive on time for meetings as this demonstrates respect for the person you are meeting. The most senior South Korean generally enters the room first. It is a good idea to send both an agenda and back-up material including information about your company and client testimonials prior to the meeting. The main purpose of the first meeting is to get to know each other. Meetings are used to understand a client's needs and challenges. They lay the foundation for building the relationship. Do not remove your jacket unless the most senior South Korean does so. Have all written materials available in both English and Korean.

BUSINESS ETIQUETTE & CUSTOMS IN SOUTH KOREA CONTINUED.


Dress Etiquette

. Business attire is conservative. . Men should wear dark- colored, conservative business suits with white shirts. . Women should dress conservatively and wear subdued colors. . Men should avoid wearing jewelry other than a watch or a wedding ring.

Business Cards

. Business cards are exchanged after the initial introductions in a highly ritualized manner. . The way you treat someone's business card is indicative of the way you will treat the person. . Have one side of your business card translated into Korean. . Using both hands, present your business card with the Korean side facing up so that it is readable by the recipient. . Examine any business card you receive carefully. . Put the business cards in a business card case or a portfolio. . Never write on someone's business card in their presence.

TELECOMS COMPARISON (MOBILE)


Mobile cellular subscriptions (per 100 people)
8,000.00 7,000.00 6,000.00 5,000.00 4,000.00 3,000.00 2,000.00 1,000.00 0.00

2001 2002 2003 2004 2005 2006 2007 2008 2009 Korea, Rep. 6,560. 6,087. 5,728. 6,496. 6,376. 6,401. 6,109. 7,072. 7,072. Philippines 2,667. 2,730. 2,823. 2,992. 3,049. 3,180. 3,319. 3,334. 3,228.
Country Name South Korea Philippines 2001 7% 46% 2002 10% 19% 2003 3% 30% 2004 8% 30% 2005 4% 4% 2006 4% 17% 2007 7% 24% 2008 4% 14% 2009 5% 7%

TELECOMS COMPARISON (TELEPHONE)


Telep o e subscriptio s (per 100 people)
8,000.00

7,000.00 6,000.00 5,000.00 4,000.00 3,000.00 2,000.00 1,000.00 0.00

2001 2002 2003 2004 2005 2006 2007 2008 2009 Korea, Rep. 6,560. 6,087. 5,728. 6,496. 6,376. 6,401. 6,109. 7,072. 7,072. ilippi es 2,667. 2,730. 2,823. 2,992. 3,049. 3,180. 3,319. 3,334. 3,228.
Country Name Sout Korea 2001 2002 2003 2004 2005 2006 2007 2008 2009

ilippi es

-1%

-1%

-3%

-7%

1%

-7%

0%

-5%

-11%

6%

-2%

-1%

1%

-4%

6%

6%

2%

-1%

AGRICULTURAL COMPARISON
Cereal yield (kg per hectare)
8,000.00

7,000.00 6,000.00 5,000.00 4,000.00 3,000.00 2,000.00 1,000.00 0.00 Korea, Rep. Philippines 2001 6,560.40 2,667.80 2002 6,087.20 2,730.60 2003 5,728.70 2,823.40 2004 6,496.60 2,992.20 2005 6,376.10 3,049.00 2006 6,401.40 3,180.80 2007 6,109.30 3,319.80 2008 7,072.80 3,334.30 2009 7,072.80 3,228.90

Cereal yield, measured as kilograms per hectare of harvested land, includes wheat, rice, maize, barley, oats, rye, millet, sorghum, buckwheat, and mixed grains. Production data on cereals relate to crops harvested for dry grain only. Cereal crops harvested for hay or harvested green for food, feed, or silage and those used for grazing are excluded.

CHEMICAL INDUSTRY STATISTICS


Basic Fractures Production Ethylene Ex ort Im ort Production Pro ylene Ex ort Im ort Production Butadiene Ex ort Im ort Production Benzene Ex ort Im ort Production Toluene Ex ort Im ort Production Xylene Ex ort Im ort 2004 5961 308 164 4028 231 235 918 146 78 3531 1082 249 1197 829 573 2164 645 1233 2005 6124 316 110 4089 253 336 921 126 68 3712 1209 350 1235 747 531 2243 603 949 2006 6173 270 183 4329 321 274 844 121 116 3818 1247 443 1500 650 338 2452 945 1023 2007 6855 721 110 4835 538 249 963 161 139 4235 1194 317 1690 761 271 2720 1403 1544 2008 7071 762 115 5055 553 218 1063 191 213 4132 1258 260 1595 615 223 2477 1007 1136 2009 7413 659 160 5607 659 245 1094 228 291 4175 1270 227 2058 903 209 2984 1385 107