Download - Negotiating in south korea
Content
• Cultural features• Initial Contacts
and Meetings• Communication• Negotiation• Inappropriate
topics
Cultural features
Business relationships exist between
individuals or groups of people and are
based on familiarity and respect
“Saving face”
In Korean culture, ‘saving face’ is very essential.Causing embarrassment or loss of composure, even unintentionally, can seriously harm business negotiations.
HIERARCHYStatus means a lot!
Find out who will participate on the Korean side, and
choose people who match the rank of the
Korean members.
Formal attire is important when doing business here. Male business
visitors should wear dark suits with neckties on
most occasions.
FORMAL ATTIRE
If possible, schedule meetings at least three to four weeks in advance.
Send your proposals and agree on an agenda ahead of the meeting.
Before the Meetings
Business cards
The exchange of business cards is an essential step when meeting someone for the first time.
Present your business card with two hands, and ensure that the Korean side is facing the recipient.
Introductions
Introduce and greet older people first.
Introductions are accompanied by handshakes and/or slight bows.
Gestures are usually subtle in South Korea.Avoid touching other people except for
handshakes.
NON- VERBAL COMMUNICATION
Unlike in other Far East countries, eye contact should be quite frequent, although not to the point of staring
You should bring a sufficient number of copies of anything you present, such that each
attendee gets one.
While Koreans view politeness and humility as essential ingredients for a successful relationship, that doesn’t stop them from being patient and persistent in pursuing their objectives.
Attitudes and Styles
Although the primary negotiation style is competitive, South Koreans nevertheless value long-
term relationships and look for win-win solutions.
Attitudes and Styles
May become very emotional, aggressive, or outright adversarial.
Relationships matter a lot and must be
maintained at all times
At one hand... At another hand…
Sharing of Information
Korean negotiators are willing to spend considerable time gathering information and discussing various details
before the bargaining stage of a negotiation can begin. In this phase, they seek to find the other side’s weaknesses.
Korean businesspeople are often shrewd and skillful negotiators who should never be underestimated.
Deceptive techniques:telling lies sending fake non-verbal messagespretending to be disinterested in the whole deal or in single concessionsmisrepresenting an item’s valuemaking false demands and concessions.
Gift giving is common in social
and business settings in South
Korea. If you received one, it is
best to reciprocate with an item of similar
value that is typical of your home country
GIFT GIVING