South Korea has become one of the most dynamic and innovative economies in the world. From Samsung to Hyundai and K-pop to Kia, this small country has made its way into our lives.
However, behind all the technology, Korea is still pretty traditional, especially when it comes to business. Fortunately, none of these practices are too complicated (aside from the language). So, if you plan on doing any business in Seoul, here a few things you should pay attention to:
Business Cards
A business card is a serious business in Korea. They allow Koreans to quickly exchange information and determine important facts like the company, title, and rank.
In Korean, you traditionally receive the card with two hands. In fact, in most situations in Korea, it is standard to receive items with two hands. Then you take the card and review it for a few seconds. If you’re sitting at a table, place it face up in front of you.
People will do the same with your card. If possible, get one of yours translated to Korean. While most people you interact with will probably speak English, it’s still a sign of cultural respect.
Respecting Privacy
While all businesses around the world have things they want to be kept private, Koreans take this to a whole new level. The most successful Korean businesses like Samsung, Hyundai, and LG are built around clans (known as Chaebols). But even smaller firms imitate this structure.
If you ever work with or in a Korean company, you should keep all matters confidential. This includes securing your digital devices. Make sure they are protected with passwords and PIN codes. Also, that nobody can hack your internet connection, especially while connected to public WiFi, by installing a VPN.
Being able to maintain such high standards goes a long way and is regarded as a sign of professionalism.
Dress Appropriately
In the last few years, things have gotten progressively more casual in the western world. While it’s growing increasingly rare to see suits in the office in the West, business attire is still conservative in Korea.
Men should opt for dark-colored suits (there are tons of great and affordable tailors in Seoul) alongside white shirts and ties. Women should also dress conservatively in muted and subdued tones. All tattoos should be covered, and men should keep jewelry to a minimum of watches and wedding rings at the most.
Of course, things are changing fast. If you’re meeting with a startup, you may be able to get away with something less formal but always err on the side of caution.
Be Firm, but Not Pushy
Koreans tend to be solid negotiators, so prepare to be firm. However, remain dignified, and don’t be too hard. Koreans will try to negotiate on price. Expect this but don’t give up too easily. Koreans respect persistence in others and value this characteristic in business partnerships.
Enjoy a Night Out
You might think that all Korean business culture is serious, but they do know how to unwind. Hui-sik (eating out) is a common practice. As a guest, your hosts will want to take you out and show you a good time. While some etiquette remains, this also a good time to let your hair down a little and bond.
Koreans love eating and drinking massive amounts of soju (rice alcohol). You may also be invited out to enjoy a night of noraebang (Karaoke). Don’t turn down such fun.
A few tips, though:
Don’t try to split the bill. If you want to treat your host, offer to get the next round or outing.
● Pour drinks for others.
● Don’t leave your chopsticks stuck in a rice bowl (that’s a death offering).
● Koreans drink a lot. If you want to slow down, never leave your glass empty. That’s a sign you want a refill!
● Eat a lot of food to soak up the alcohol.
● Ask for pointers on etiquette from your hosts. They won’t expect you to know everything.
Mastering Business Culture in South Korea
Business culture in South Korea is complex. Even natives take years to really get the hang of it. As a foreigner, it will be doubly hard for you. But by paying attention to a few of these details, you will show your respect and not only help your own business advance, but hopefully make lifelong friends. Then, it will be your turn to be a good host when they come to visit you.
