Travel Reference
In-Depth Information
as this is usually just an attempt to establish a rapport. It's uncommon, but certainly not
unheard of, for a local company to fly a candidate in from another country exclusively to
conduct an interview.
After a hiring decision is made, the company will typically offer the successful candidate
a contract, which can usually be negotiated slightly before a final deal is reached. Bear in
mind that in South Korea contracts are seen more as a starting point or a guideline than the
ironclad documents they are in the West. Make sure all the big bases—pay, hours, dismissal
procedures, and so on—are covered, but don't expect it to touch on everything. Also count
on some obligations or expectations arising independently of it.
Expatriates dispatched here from their home countries can often count on a “package” that
includes a salary, usually paid in a mix of local and home currencies, housing, schooling for
dependents, insurance, and so on. Local hires, on the other hand, will almost exclusively
consist of a salary paid in won. When it comes to expatriate salaries, the sky's the limit.
Locally, pay packets are highly dependent on the company's circumstances and the can-
didate's history and negotiation skills, but to put it in perspective, fresh graduates typic-
ally make 2-3 million won per month and senior managers 4-7 million won per month.
Some companies pay an annual bonus of around one month's salary, but it's not as wide-
spread a practice as it used to be. Small bonuses for the Lunar New Year and Harvest
Festival holidays, however, are still standard. Many, but by no means all, firms provide
perks such as health insurance (on top of the standard government variety), assistance with
education, housing, and vehicle purchases, or use of company condominiums during holi-
days—perhaps because all these things often come from the same company or its affiliates!
The office is one of the arenas in which South Korea's Confucian traditions are most readily
apparent. Many companies have adopted Western-style structures or management initiat-
ives in name only, and these are often halfheartedly implemented. A lot of South Korean
firms remain authoritarian and hierarchical, with a reluctance to adopt new ideas or change
rapidly. The impressive performance of these companies on the global stage proves the loc-
al way of doing business isn't always the wrong one, but expatriates are bound to find some
practices very different with some adjustment required.
