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BUSINESS CULTURE IN SOUTH KOREA
Etiquette & Customs in South Korea Meeting Etiquette

. Greetings follow strict rules of protocol.
. Many South Koreans shake hands with expatriates after the bow, thereby blending both cultural styles. . The person of lower status bows to the person of higher status, yet it is the most senior person who initiates the handshake. . The person who initiates the bow says, "man-na-suh pan-gop-sumnida", which means "pleased to meet you." . Information about the other person will be given to the person they are being introduced to in advance of the actual meeting. . Wait to be introduced at a social gathering.

. When you leave a social gathering, say good-bye and bow to each person individually. . South Korean business practices stem from a history of invasion for centuries. Some of the characteristics include items that we Americans would consider unethical, but are part of their cultural self-preservation. South Korea has their own “unique collectivist [culture] that [stresses] cooperation, perseverance, and success at any cost.” Legitimate South Korean business practices include price fixing, research searching, allocated contracts and government supervised and developed market strategies. Business Etiquette and Protocol Relationships & Communication

. South Koreans prefer to do business with people with whom they have a personal connection. . It is therefore crucial to be introduced by a third-party. . Relationships are developed through informal social gatherings that often involve a considerable amount of drinking and eating. . Individuals who have established mutual trust and respect will work hard to make each other successful. . South Koreans treat legal documents as memorandums of understanding. . They view contracts as loosely structured consensus statements that broadly define agreement and leave room for flexibility and adjustment as needed. . Under no circumstances insult or to criticize in front of...
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