Conducting successful business meetings and negotiations with Korean business people can be as simple as knowing proper business protocol, etiquette, and entertainment.
Understanding Korean business culture can make your negotiations easier and successful when you learn some of the traditions listed below.
1. Business Etiquette
Exchanging business cards is an important ritual to do, and it is important to notice the status of the person who’s handed you a card.
Gift giving is a common practice within Korean business settings. Allow the host to present his gift first and be sure to accept the gift with both hands.
Koreans believe that contracts are a starting point, rather than the final stage of a business agreement and prefer them to be left flexible enough so that adjustments can be made. Be aware of how your Korean counterparts view these documents in order to avoid any possible misunderstandings.
Always let a third party introduce you to your Korean counterpart, when meeting him or her for the first time.
Today, it is quite common for Koreans to shake hands with foreign colleagues after a bow, encompassing both cultural styles. To show respect during handshaking, you should ensure that you support your right forearm with the left hand. When departing, a bow is usually sufficient.
2. Business Protocol
Don’t address a Korean by his or her given name as it is considered extremely impolite. Korean names begin with the family name and are followed by a two-part given name. The correct way to address a Korean in business is by their title adding the “NIM” at the end. You can also use Mr. or Ms. In their surnames (i.e. Mr. Kim).
President: Sajang-nim
General Manager: busang-nim
Manager: Kwajang-nim
Assistant Manager: Daeri-nim
Be positive. Avoid negative talk. Answer questions in the most positive way possible. Koreans, as with other Asians, do not like to offend and will often avoid saying "no" or "not".
Avoid using large hand gestures or facial expressions. Talking or laughing loudly is also considered impolite in Korean culture.
A good tip is to bring along a Korean colleague who can interpret for you during the actual business negotiations.
3. Use of Entertainment
Drinking Korean drinks means accepting their culture. They love it. It is easy to get along with each other. Business happens at the dining table in Korea.
It’s okay to not speak Korean, but having a good time together is important, as Korean people are sensitive as to how other people accept them.
There are many things you can do to have successful negotiations meeting with your Korean counterparts. Have fun, enjoy and accept the Korean business culture. It is the key to succeeding in Korea.
Remember...You Are a Super Hero!
Jinsoo
jinsoo@jinsooterry.com
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