1. South Korea Socio-cultural Report

2. Contents Language/Conversation Etiquette/Manners Culture/ Dress Code Negotiations/Deals CPI (Corruption Perception Index)

3. Language & Conversation A lot of South Korean corporate people speak Korean, even though they know English as well. It is vital to understand certain phrases, and some Korean. Must NOT discuss topics like: war, politics, socialism, communism, personal matters Can discuss topics like: one’s cultural heritage, success, accomplishments, goals Status is significant. Presenting one’s achievement is something South Koreans admire. Though talking about one’s position is decent, modesty should be in mind. Address them by title and family name, not first name

4. Etiquette/Manners South Koreans desire bowing and then shaking hands when getting together with prospective business partners. While getting into a person’s home, taking off shoes is necessary Appointments need to be made at least 3-4 weeks in advance. Design written materials in both Korean and English Business cards can be exchanged afterwards. Punctuality shows respect, so it vital to be courteous with time

5. Culture/Dress Code South Koreans take food with chopsticks, so it is necessary to know how to take food with them if you want to socialize over lunch/dinner Giving a thank you note is great after a dinner invite The digit “4” is considered as unlucky in Korea, so if one were to present a gift, ensure it does not made up to 4 items Conventional dressing is key, which include: dark suit, white shirts, avoiding jewelry except maybe a watch, make sure shirts are have sleeves

6. Negotiations/ Deals South Koreans choose to develop business with people they have a personal reference, it is therefore important to be introduced by a third-party Abusing others or blaming in front of an audience is not expected Familiarize with “less is more,” approach, meaning be direct and answer questions quickly and simply. Business deals have a tendency to to be at a unhurried pace in South Korea compared to American dealings Smoking is permitted in meetings, so be ready to be around smoking

7. CPI CPI: it stands for Corrupt Perceptions Index CPI traces how corrupt a nation and their businesses are It utilizes on surveys and polls to see the observed corruptions within certain countries The higher the number: the less corrupt The lower the number: the more corrupt South Korea’s number was as of 2007: 5.1 South Korea has almost no corruption like a country has such as Somalia (1.4), or neither as non-corrupt as Denmark (9.4)

8. References __________ (n.d.) Doing Business in South Korea. Retrieved -----------, from http://www.communicaid.com/cross-cultural-training/culture-for-business-and management/doing business- in/South-korean-business-and-social-culture.php ___________ (n.d.) South Korea- Executive Plan. Retrieved -----------, from http://www.executiveplanet.com/index.php?title=South_Korea http://www.executiveplanet.com/index.php?title=South_Korea ___________ (n.d.) South Korea: Language, Culture, Customs. Retrieved ----------, from http://www.kwintessential.co.uk/resources/global-etiquette/south-korea-country-profile.html ___________ (n.d.) 2007 Transparency International Corruption Perceptions Index. Retrieved -----------, from http://www.infoplease.com/world/statistics/2007-transparency-international-corruption- perceptions.html