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Step 1
Learn the meaning of Kibun. Kibun has no direct translation in English, it has something to do with a person’s dignity/pride and feelings. Koreans like to do business with people they can relate to or are comfortable with on a personal level. One must establish a good level of trust and respect with the person they intend to do business with. It is to a good businessperson’s advantage to protect his Korean colleague’s kibun and not make him lose face by criticizing or insulting him in front of others.
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Step 2
Work with the hierarchy. The Korean culture holds great respect for seniority in age and rank. The eldest person in the gathering initiates activity, such as entering a room, greeting and eating. The person of lower status bows to the one higher. In a business discussion, your Korean counterpart will choose to be with a person of equal or parallel rank.
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Step 3
Study the concepts of Confucianism. In Confucian philosophy, harmony, along with duty and loyalty, is an important part of this society’s culture, with a strong emphasis on group ties. An individual is encouraged to make decisions that would benefit the interests of the set he belongs to, whether it be family, friends or the company he works for. To successfully negotiate business with a Korean establishment one must always think in terms of the good of the group.
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Step 4
Learn the art of introduction. Introductions tend to be formalized in most situations. One must always wait to be introduced, usually by a third party. When setting up a meeting, it is imperative that you send all relevant personal and professional information to the person you’re meeting with in advance of the actual meeting. Business cards are important tools. Always have your cards translated into Korean. In an exchange, always present your card with both hands, as this is considered a sign of respect. When addressing a Korean colleague, it’s best to use formal titles followed by their surnames (e.g., Mr.Park, Dr. Kim ).
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Step 5
Work on your communication skills. More so than their Asian counterparts, Koreans are quite direct in approaching matters and would appreciate it if you take the time in understanding their business goals and needs. They admire persistence and firmness in negotiating, but take care not to push your position too hard. Make sure you get your point across in a thorough yet concise manner.
