Korea, South business travel information

Doing business in South Korea

From the history, South Korea is also known as ’Land of the Morning Calm’. Today it’s known as one of the Four Asian Tiger economies. It has 13th fast-growing economies in the world. With the total of 50 million inhabitants, the district covers nearly a total area of 100 thousands square kilometers. Since the war between South and North Korea, the border divided them and carried over to the heaviest military area in the world.

South Korea has 6,228 km of coastline on the peninsula and nearly 3,000 outlying islands. South Korea is now one of the United States’ largest trading partner and has the 15th-largest economy in the world. The most related factor of GDP is Korean industry such as telecomunications, electrical and electronics products, motor vehicles, shipbuilding, petrochemicals, industrial machinery, steel, mining.

Some facts in a list:

Product tip: Keep an eye on the size of your trolley Many luggage stores sell suitcases described as ’carry-on’, but these suitcases are sometimes larger than the size most airlines will accept. The safe maximum size is 114 cm, in the form of a 55 x 40 x 20 cm bag. Some airlines allow up to as much as 140 cm, but most do not. Not only do luggage stores and manufacturers seldom tell you if their bag is legally sized or not, but they also frequently mis-measure their bag. Their measurements generally are for the inside of the main compartment, and assume that any external pockets are of zero thickness, rather than stuffed full of things (which can easily add another inch or more) and ignore any external framing such as wheels and carry handle (which can also add another couple of inches).

In case of emergencies

Before you go on your business trip to , South Korea you should always get a travel insurance with a complete coverage.

Make sure your health care insurance is sufficiently covered.
Maybe this is already covered in your regular health care insurance but often you will need to cover this with the travel insurance. Also a good travel insurance should cover the costs of travel for a relative in case of seriously illness or an accident.

The business trip travel insurance should also cover the costs of search, rescue and repatriation.
When you go on business trips on a regular basis, the easiest way to get insured is with an annual multi-trip insurance.

Keep in mind that you can also use this insurance for your pleasure trips so don`t forget to include to insure your leisure activities.

Foreign travellers in Seoul can dial either the 111 emergency numbers to reach the National security hotline or Police Central Interpretation Center (English): 313-0842.

In case of a medical emergency you can contact the FOCUS Emergency Medical Phone in Seoul (02) 798-7529.

Business Etiquette and Protocol

If your are planning a business trip to South Korea it is a good idea to know at least a little about the culture and etiquette in South Korea. Use these business etiquette tips as a guideline only. There are too many social, personal and business nuances in South Korea to be considered. There is no uniform approach possible for all occasions.
For more in-depth information I suggest you buy and read the "Global Business Etiquettes" book.

• Communication:
  Use formal names, professional and academic titles.
  Koreans are direct communicators, do not confuse this with rudeness. Never interrupt somebody.
  Dress formal and dark- coloured, conservative business suits with white shirts.
  


• Meetings and negotiations:
  When making appointments use the 24-hour clock time format to avoid misunderstandings.
  Be very punctual, as it makes respect for Koreans you are meeting with.
  Shake hands and bow with everyone individually upon arriving at the meeting and leaving.
  Remain standing until invited to sit down or others do so.
  Agenda’s are strictly followed.
  First appointments are more socially oriented, Koreans would like to know you a bit better at first.
  Keep your presentation as short as possible, to the point, accurate and precise, do not exaggerate.
  All written material can be specified in English and Korean.
  


• Table manners:
  If unsure on how to behave, mimic the behavior of others.
  Wait until you are appointed a seat according to strict protocol.
  Whenever you stop eating, place your chopstick on the table or on the chopstick rest. Avoid alcohol if possible, otherwise drink little.
  Eat everything on your plate and place your chopsticks on the chopstick rest or on the table.
  
  

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