Travel Reference
In-Depth Information
questions and issues. It can be challenging because the view of nationality here is still
race-based and also tied to the language. But foreigners who speak fluent Korean can
get over a lot of that.
It's a very hierarchical culture, especially for men. Korean companies all operate
like the military. You can relate to someone in a different company or group by a title,
and privates can't go around telling majors what to do. As a foreigner you can kind
of get around all that. But one of the first things I've got to figure out [in meeting
with a client] is how I'm going to present what I think in a way that's respectful.
[Developing contacts] comes down to the nature of the business and your per-
sonality. Despite what you hear, you can be an unsociable teetotaler and do well in
business. Or you can be a gregarious drunk and do badly. That said, some embassies
have their own bars—the British and Australian embassies in particular—and most
countries have chambers of commerce, with the American chamber being the most
active. If you went to university, you might want to see if there is an alumni associ-
ation of its Korean graduates.
As in any country, opportunities can be found just about anywhere you look, but with so
many South Korean companies competing aggressively in most segments of the market,
non-Korean entrepreneurs tend to stick to areas in which their language or culture gives
them a head start.
Not surprisingly, given the number of foreign nationals that first come here as language
instructors, many move on to open thriving language institutes or businesses recruiting
teachers abroad to fill vacancies in South Korean schools. A number have also launched
restaurants focusing on ethnic cuisine, which have grown immensely popular with an
increasingly well-traveled local population. Others have concentrated on building links
between South Korea and their home countries—helping South Korean firms source for-
eign executives, acting as a local agent for foreign firms or products, or breaking new inter-
national ground for South Korean goods.
While there are exceptions, most successful foreign business owners share a few traits:
familiarity with their host market (meaning they've lived in South Korea for a few years
before striking out on their own), at least rudimentary Korean language skills, and a solid
local support network, whether family, old friends, or former colleagues. Contacts and per-
