Everything Korea: Episode June 8—The Short Answer

June 9, 2015 Commentary, News Comments Off on Everything Korea: Episode June 8—The Short Answer

I was on a conference call last week when asked how best to describe my work—and do I provide consulting for CEO and C-level management—her organization’s international development committee made up of a number of CEOs.

My short answer was that a client and long friend, then a CMO for a major company best described my practice to others as Everything Korea… I also like having been introduced as “ a high power consultant” or Don is “the guru, the guy CEOs want to have their voice heard with, “ the later shared on Seoul’s eFM tbs Koreascape.

Pondering over the weekend on the question from the conference call much of what I do is provide context and a strategy to decision-makers involved in Korean facing business projects that range into the hundreds of million of Dollars.

In particular, I provide counsel and solutions based on my years working with Korean business—a good part in the international expansion into new markets and the challenges that surface and as a client once asked “ where are the landmines he needs to be aware of and avoid.”

So this gets to why I post weekly Vodcasts, frequent media commentaries, case studies as well as books on Korea facing topics.   They all serve as channels to support and educate.

This said, in my consultancy each engagement needs to be approached on a case-by-case basis—no two situations identical.

If you feel you might benefit from my C-level insights, I’ve blocked out my availability to chat and discuss…. Just go to http://www.meetme.so/southerton

In closing:

A great book on the reshaping of the American economy and the New Order… check out Richard Florida’s The Rise of the Creative Class, Revised Edition.  I prefer the Hardcover.

And the music on Repeat Song listened to while drafting this week’s episode—Pink Floyd, “Wishing You Were Here” Re-mastered Available on iTunes.

Links

Seoul eFM Koreascape http://www.tbs.seoul.kr/efm/koreaScape/

The Rise of the Creative Class

http://www.amazon.com/Rise-Creative-Class-Revisited-Anniversary-Revised/dp/0465029930/

Pink Floyd, “Wishing You Were Here”

https://itunes.apple.com/us/album/wish-you-were-here-remastered/id704223460

Everything Korea: June 1 Episode: Challenges and Solutions in Recruiting Foreign Direct Investment and Supporting their International Workforce

June 3, 2015 Uncategorized Comments Off on Everything Korea: June 1 Episode: Challenges and Solutions in Recruiting Foreign Direct Investment and Supporting their International Workforce

Just back from Greater Nashville area and specifically the Clarksville –Montgomery Economic Growth Summit. I was honored to have been asked to speak on an elite panel about international business market entry. In particular, my contribution focused on 1) how the community and its leadership can best support Korean Hankook Tire, with construction now underway for the Korean company’s it’s 1st manufacturing plant in North America, and 2) how can the community attract other top Korean FDI manufacturers.

I like to share some comments made by my colleagues Kiyo Kojima, a top lawyer specializing in Japanese market entry and Sebastian Eich an expert of German and EU business.

For starters, Japanese, German and Korean firms approach the overseas’ operations differently. Cultural nuances impact how they look at and enter new markets.

For example, although local quality education for the expat Japanese, German or Korean dependents is important. German and Japanese families expect to return to the mother countries and their children to resume schooling. More often Korean families see value in an American education, with English language proficiency—the later a competitive workplace edge. A recent trend among Korean expats then is for father to return to Korea when the assignment ends, but the family to remain in the states until the children graduate from High School and college.

BTW A positive for Clarksville is the area has the best schools in the state, along with home to the Austin Peay State University campus.

Another factor that stood out among the many questions the panel tackled included the need for a qualified and skilled workforce, not an issue in Germany, Japan or Korea, but labor force can vary much with a country the size of American, and a determining factor on picking one region over another in the site selection process.

All said, having supported major Korean manufacturing facilities in the US and globally, i found the Clarksville—Montgomery County region of Tennessee offering much…. Not to mention just miles from Nashville.

I also see as a great site for future Foreign Direct Investment as other Korean firms consider launching US manufacturing operations. If interested, I have blocked out my availability to chat and discuss…. Just go to http://www.meetme.so/southerton

Until next time.

Did you check out the Super.me APP yet? Give it a try.

Everything Korea: May 25 Episode: Diverse Sub-cultures

May 27, 2015 Commentary, general, News Comments Off on Everything Korea: May 25 Episode: Diverse Sub-cultures

Coming off the Memorial Day Weekend Holiday here.  I use holidays as a time to write, read, recharge and re-focus. This means opting out perusing Facebook and Twitter, as well as checking emails.  I’m happy this year both the American holiday and Buddha’s Birthday (a legal holiday in Korea) fall together.
I was again asked what’s been on my reading list.  I recommend for starters, Brian Grazer’s (the Hollywood producer and with creative partner Ron Howard founded Imagine Entertainment) new book A Curious Mind
A second Book:  The start-up of YOU, by Reid Hoffman, co-founder and Chairman of Linkedin
And, Hatching Twitter, by Nick Bilton
All three give some great insights into the varying aspect of American business–behind the scenes and sub-cultures.
This brings us to today’s topic—these recognizing diverse sub-cultures.  To often like an iceberg what is seen on the surface only shares a potion of a business and in particular for that business model in a respective market or region.
What is truly deceptive is that on the surface business is business, and all can appear similar.  Where the challenge emerges is that each business sectors can vary considerably in the West, and the three books I mention highlight just how different.
For example Brian Grazer, as a Hollywood insider and successful TV and film producer talks about expectations within filmmaking and specifically Hollywood that require special mindset— which at the core is “creating ideas.”
Building on this, the other two books look at recent trends and sub-cultures that exist within…
As the Linkedin Chairman points out that in contrast to an old model embodied by the once great Detroit, we find the entrepreneurial mojo of Silicon Valley embracing a willingness to take bold risks and accept failure, coupled with a network of alliances to work in collective action.
More revealing to inner workings, we find in Hatching Twitter that can things vary lots even across startups.  Cited in the book one of the Twitter co-founders Biz Stone willingly went to a startup which would become Twitter from  “unlimited free meals, free snacks, free buses to work, and a free inexhaustible everything at Google  and replaced with a office where homeless people slept in stairway, the only free transportation was his two feet, and the only free food and drink was a beer after work if EV [his boss] picked up the tab.”
This said, the author notes, “ The cultural difference was incalculable. The sterile, robotic culture of Google, with its know-it –all engineers and bossy bosses, was now replaced with tattooed hackers with a do-what-you-want mentality.”
So what am I saying…
To my friends and clients in Korea, I’d share these are just several examples of the diversity in Western work culture and norms—a deep understanding required to be effective in the local market.
In contrast, although no two Korean Groups are entirely alike in their mindset and even Divisions and sister companies within a Group can vary some—workplace culture, norms and process are very relatively similar.  For example, hierarchical titles, role of Finance, a team focus, a junior’s deference to seniors, pressure to take action over considerable upfront critical thinking, as well as top down oversight and decision making.
All said, I am often asked about a pet project of mine over the past year Mad For Garlic.  My Korean friends and the expat community in Korea know the brand well. In short…. Mad For Garlic is known for its unique and innovative menu with garlic-specialized Italian cuisine.
I was asked to assist the team in US market entry. A rare and very smart move by the Korean team who recognized the need for local support. Our first round was getting the word out to the FSR industry.  This is summed up nice in a PDF study. Link below.
As if often the best case, our original strategy to find a master developer for the US market has evolved to now finding a VC or Angel to invest in the International development of the brand.  This makes considerable sense with a recent  $48 MM investment by Standard Chartered Private Equity (SCPE) in the now 40 plus domestic Korea Mad For Garlic operations. This new partnership with SCPE will accelerate Mad for Garlic’s Korea expansion.  Working with the Korean team we seek to accelerate the International development though a similar partnership.  Questions, thoughts or an interest, please contact me directly and we’d love to discuss more.
Oh and one more thing…. I am off to Nashville, Tenn. area this week and more specifically as speaker a panel on international development held in Clarksville-Montgomery County, soon be home to a $180MM Hankook Tire plant.
So until next time….
Links

 

Everything Korea, May 18, 2015 Episode: Embrace and Immerse

May 19, 2015 Education, general, News Comments Off on Everything Korea, May 18, 2015 Episode: Embrace and Immerse

In this week’s Everything Korea my thoughts again turn to discussing why some Korean businesses do well outside Korea, while others struggle.

A caveat is tied to last week’s episode where although Korea entrepreneurs have and continue to launch some amazing new startup concepts—few ever gain the stellar funding and success achieved by similar startups the US in the past or now with concepts like Periscope, Meerkat or my favorite Super.me.

Frankly what works well in Korea may not work well outside Korea and with regard to the Startup Model even work within Korea. Same thing goes for global brands, what works well in each respective country or region needs some if not substantial localization—localizations a catch phrase that everyone agrees to but few truly embrace.

In particular, I see with Korea brands looking outside Korea to often the same missteps re-occurring. In my recent case study “A Global Approach: For Korea Management Teams” I address many of the challenges. See the link below for a copy of the study.

So what are some steps in my opinion for 1) Korean brands already having a global footprint, or 2) brands that wish to expand outside Korea, or 3) domestic Korea startups, all need to take?

I’ll talk more on this in the next episode, but for a first step–embrace and immerse in the local culture, market norms and success model.

What is a poor idea is for an overseas team modeling practices after the Korea operations. This I know can be difficult–most Korean teams dispatched are most familiar with the Korean model, receive limited support to transition, or are subjected to pressure from their peers and seniors to limit the embracing of local norms over the mother company’s. The later situation a real concern.

Again in the next episode we’ll drill deeper to the core causes of the disconnects.

Oh one more thing…
Those struggling with some of the challenges I’ve mentioned, or have issues within your organization that need to be addressed….I have blocked out my availability to chat and discuss…. Just go tohttp://www.meetme.so/southerton

Until next time, all the best.

Case Study http://unbouncepages.com/case-study-fb/

And a very cool App, please join and follow me https://super.me

‪#‎Koreanculture‬ ‪#‎bridgingculture‬ ‪#‎koreanbusiness‬ ‪#‎globalstartups‬‪#‎Koreanstartups‬ ‪#‎koreanbrands‬ ‪#‎globalbrands‬ ‪#‎localize‬ ‪#‎localization‬‪#‎globalfootprint‬

Everything Korea: May 11 Episode, Startup Culture

May 13, 2015 Commentary, Education, general Comments Off on Everything Korea: May 11 Episode, Startup Culture

 

Summary and Links:
Just back from NYC, so I wanted to share the link to The Korea Society presentation. Nikita Desai and the team did a wonderful job hosting and then professionally producing and uploading the event. You’ll want to set aside some time to watch the recorded session. I have included the YouTube link in week’s copy.

The topic of Korean startups seemed to come up lots last week. We touched upon it in The Korea Society interview, but it was a subject of discussion in several of my high level meetings while in the City.

I feel it is a “talking point” that I will be elaborating more on in the next few weeks, but frankly Entrepreneurship and the roots of Korean style Entrepreneurship has long been a subject of my study, writing and work.

In fact, my first book was titled, The Filleys: 350 Years of American Entrepreneurial Spirit

A second book Intrepid Americans: Bold Koreans—Early Korean Trade, Concessions, and Entrepreneurship

As well as Chemulpo to Songdo IBD: Korea’s International Gateway, and Hyundai Way: Hyundai Speed all approach Entrepreneurship from different perspectives, historically and culturally.

So today, just as an introduction to the topic of Korean startups, I see the major challenge with Korean startup is culture. Let me explain, what has evolved in America regarding startups is they tend to hub in cities like Boulder, Colorado, San Francisco, Austin, TX, and NYC, although more and more scenes are emerging like here in Golden, CO…

Within these communities I have witnessed an amazing synergy not only in day-to-day interactions and dialogue, but also in resources. Actually spending an hour and listening to the chats and even pitches for funding in edgy Caffe Centro on a South Park Street in San Francisco (the couple of blocks once referred as Ground Zero of the dot.com, where concepts like Twitter were launched and scores of tech companies and startups now call home ) one quickly sees why locating in one of these scenes is key ….

Noting this, where the gap between US and Korea occurs is primarily in mindset. Today the entrepreneurs, angel investors and VC who launched Facebook, Twitter, Instagram, Linkedin and Shopify continue to look for, invest and provide mentorship and guidance to what they hope will be the next success story…. In most cases they are investing resources in multiple ventures….

This said they know and accept that failure is part of the process…. As Biz Stone (Twitter, Square, Xanga, Medium…and a bunch more) said at SXSW… “the failure of one venture, Jelly, led to success at a venture, Super.”

So getting back to Korea the real challenge is not in lack of ideas, innovation, and talent, but in allowing and fostering a culture for an acceptance of failure. And this is where I will take up in the next episode of Everything Korea and share some an exciting developments, which may be the very answer…so stay tuned.

Until next time….

Link to The Korea Society
https://youtu.be/oDo6y1RD3s8

Link to Don’s Books
http://www.amazon.com/gp/search?field-author=Donald+Southerton&index=books

For some fun with your iPhone
https://super.me/

Questions? Go to questions@koreabcw.com
Korea Perspective

Listen to Podcast from the Korea Society Corporate Series Featuring Don Southerton

May 10, 2015 Education, general, podcast, Uncategorized Comments Off on Listen to Podcast from the Korea Society Corporate Series Featuring Don Southerton

Listen to Podcast Here:

Korea Society Corporate Series Featuring Don Southerton

TKS 2

Don Southerton is highlighted in the month’s Global Success Newsletter from Frankfurt, Germany.

May 7, 2015 Uncategorized Comments Off on Don Southerton is highlighted in the month’s Global Success Newsletter from Frankfurt, Germany.

Doing business in Korea- Contractual Agreements

Contracts, legal agreements and negotiations go hand in hand with global business. I was once told that in Korea the purpose of signing a contract or agreement was essentially to formalize the partnership. Over time, terms would be subject to change and re-negotiation.

My Korea facing experience has been that the contract fundamentally solidifies the working relationship.  However, to maintain the partnership contractual obligations, the contract will require on-going changes to reflect business conditions. In contrast, a legal agreement in the West is immutable.

Challenges

Major differences in how Korean and Westerners perceive legal agreements can surface during the negotiation stage and even after the contract is in place. In particular, requests by Korean teams for change after change and alterations to a Western company’s standard agreements and contracts can cause considerable frustration, especially for their legal counsel. In the West some “red lining” of a document may take place, but legal teams may see unprecedented levels of questioning the most basic contractual language. Great patience may be required to walk Korean teams through the Western legal terminology and clarifications of what cannot be changed within the document to maintain compliance with international laws.

Finally, it is not uncommon for terms to be re-visited and questioned by other departments – often with limited or no international legal or business experience –  despite months of work between the Western and Korean lead teams!

As the Ink dries…

Perhaps of more concern is that terms mutually agreed upon within the binding agreement can be subject to re-interpretation. Most often, Korean and western senior leadership teams did a great job gaining mutual trust. Both negotiated well. The deal is signed and its time to perform.

Sadly, the honeymoon is over. Challenges arise, what appeared to be clear expectations could now seem murky with poor alignment and weak communications. 

 Why?

There are a number of reasons. Over time, as Korean team members are reassigned to the project, the new staff will be unfamiliar with previous compromises and understandings. This new staff, often in response to changing business conditions, will have different expectations and want to implement fundamental changes that alter the agreement.  This will require amending the original agreement with all of the associated time and costs. In the worst cases, Western companies will not be open to altering what they feel is fair and binding, resulting in seriously jeopardizing the relationship and creating potential legal action.

Conclusions

In dealing with Korea-facing business partnerships ensuring success and sustainability will require well-communicated expectations and cross-cultural understanding. In particular, any business plan and strategy needs to take into account differences the cultural realities between the West and Korea.

Excerpt from: https://www.globalsuccess-club.net/newsletter-april-2015

https://www.globalsuccess-club.net/business-in-korea?utm_source=april+Newsl

 

This Week’s Episode of Everything Korea – Watch Now!

May 6, 2015 Commentary, general, News Comments Off on This Week’s Episode of Everything Korea – Watch Now!

Two topics, first I’ll be working from NYC this week. I’ll be sharing the Korea Society presentation once their very professionally team produces the video series and uploads to YouTube. Please Stay tuned.

That said, much of my professional work is providing strategy and consulting to the top Korean brands globally.

This includes working with non-Korean firms, leadership and audiences to explain the dynamics and nuances in Korean business. During a long day that can often extend into the evening, I tackle client issues.

A common question both in media interview and by clients is “ Don, how did you get interested in Korean business?”

My Korea focus and experience are actually rooted in Korean martial arts. I began martial arts in the early 1970s, receiving my Cho Dan (1st Degree Black Belt) by the mid 1970s, opened my first school in 1976 and tested for Sabom Master Instructor in 1987. In 2013, I was inducted into the Taekwondo Hall of Fame.

Outside my public image today of business consultant, coach, trainer, strategist, social commentator, and author. I’ve continued to be a life-long student of traditional Korean martial arts– now for 43 years.

I have added several complex Chinese forms to my repertoire of over 35 hyung—the traditional sets of combative movements martial artists’ practice to hone their bodies and minds.

I have always seen martial arts as not only a way of staying in shape through a wide range of stretching, kicking, and hand movements, but also a demanding mental regiment.

All said, I attribute my success in Korean business much in part to the discipline, “meditation in motion,” self-control, patience, and focus sharpened over a lifetime in the martial arts—not to mention the strong rooting in the cultural dimension of a traditional Korea art.

Just one more thing, in addition to my Korean facing Facebook pages, I just added a new martial arts Page. It includes some articles I have written for both academic and the martial arts industry.

So until next time, this is Don Southerton wishing you all the best.

As in past Everything Korea, I will share links on topics discussed in the accompanying copy.

1. The Korea Society
http://www.koreasociety.org/corporate/korea_perspective.html

Please Follow and Like:
2. My Facebook Page ( lots of posts I see as timely and relevant)
https://www.facebook.com/dsoutherton

3. Bridging Culture Worldwide Facebook Page (Korea facing)
https://www.facebook.com/BridgingCultureWorldwide

4. My Martial Arts Page (cool videos and articles)
https://www.facebook.com/pages/Don-Southerton/846237712136423

Questions, Comments, Thoughts? Go to questions@koreabcw.com

‪#‎Koreasociety‬ ‪#‎NewYorkCity‬ ‪#‎strategy‬ ‪#‎Korea‬ ‪#‎Koreanbusiness‬‪#‎martialarts‬ ‪#‎personaldevelopment‬ ‪#‎mentaldiscipline‬ ‪#‎patience‬ ‪#‎focus‬‪#‎Koreanculture‬

Everything Korea – Korean Foreign Investment, Tennessee and Car Tires!

April 30, 2015 Commentary, general, News Comments Off on Everything Korea – Korean Foreign Investment, Tennessee and Car Tires!

In the week’s episode I recommend some books, as well as discuss Korean Foreign Investment, Tennessee and car tires.

A common question I get from Korean executives is “what books are you reading Don?” Two books stand out from my current bookshelf. [Both titles are listed in the video].

Before I share why these two books are on my reading list, I need to step back the past several months. Prior to my March trip to Seoul, I picked up a new iPhone 6 (and yes, I plan to get an iWatch Sport soon). Anyway, while in Korea and to take advance of the high speed Internet I planned to do the software update. Mid download, the phone locked up.

Luckily I was heading back to the US the next day, and would be in-flight for much of the next day, so I “survived” without phone, text and constant email updates. In the meantime, I was re-reading Tim Ferriss’ 4 Hour Workweek, and although cognitive to my addiction of constantly checking email, I finally came to recognize the time chewing up keeping an eye on emails, most all non-urgent, was impacting the quality of my work and life. In particular, my creative thought stream was disrupted with a mix of updates, alerts and promotions. I wouldn’t even mention how many times I would check emails during the night.

So what’s the relevancy, well, after now implementing some rather cool email filter processes, and earmarking times to follow up on emails, I have carved out noticeable blocks of time I am now devote to additional reading and research…. And I’ve found “Those who read, have something to share.”

Moving to my next topic, I’m in NYC at the Korea Society next week. I’d happy to say the presentation will be recorded, available on YouTube and I’ll be posting the links.

BTW I have some time still available while in New York, so let me know if you have some thoughts who I should meet with while in the City.

One more thing-
In late May I will be in Tennessee as part of a panel discussing local foreign investment. Specifically I was asked to discuss Korean foreign investment in regard to Hankook Tire’s new $800 million car tire plant. Frankly, I’ve supported Hyundai and then Kia Motors’ manufacturing plants in Alabama and Georgia as well as teams from their other plants globally. I have also worked with Hyosung, which in their diverse product lines manufactures tire cords—the key component in tires.
I’ve been followed news of the Hankook plant since last fall, and hope to learn more about their plans for the US plant as well as help the local government and community support the new plant.

In turn it’s these experiences that provide the insights I share with you and others—all of us benefitted from this work across and supporting the many legs of Korean business: Manufacturing, Sales and Marketing, research and design.

So until next time…

Quotes

“Those who Read, have something to share.”

Hankook Tire
http://www.hankooktireusa.com/compmed/News_View.aspx?pageNum=5&subNum=4&ChildNum=1&Seq=481

4 Hour Workweek (updated)
http://www.amazon.com/4-Hour-Workweek-Anywhere-Expanded-Updated/dp/0307465357

A Curious Mind
http://www.amazon.com/Curious-Mind-Secret-Bigger-Life/dp/147673075X/

Questions? Go to questions@koreabcw.com

Bridging Culture Worldwide Launching Korea Culture Training On-line

April 13, 2015 Uncategorized Comments Off on Bridging Culture Worldwide Launching Korea Culture Training On-line

Beginning with its highly popular Korea 101, the Korea facing consultancy now offers programs on-demand via digital download

Golden, Colorado (PRWEB) April 10, 2015

Bridging Culture Worldwide (BCW) provides a wide range of Korea-focused training, coaching, and consulting services beginning with Korea 101, the consultancy’s most popular workshop. For more than a decade Korea 101 has been offered in corporate live and Webinar sessions both in the United States and internationally. Thousands of participants have benefited from this training and the insights shared.

BCW CEO Don Southerton notes, “For the first time we are offering the Korea 101 in an on-demand online learning format. Over five lesson sessions the course builds upon current experiences, while providing new knowledge.”

Southerton adds, “Building teamwork and cross-cultural understanding is paramount to success. Misunderstandings and stress created by the differences in culture impact productivity and interfere with smooth business operations. Cross-cultural education is recognized as a solution to cultural challenges in the workplace.”

Korea 101 is a timely overview approach to Korean culture, modern history, norms and business culture. The goal of the program is to foster a better understanding of Korea and its business culture.

Topics covered include: Business and social etiquette; History and the economy of Korea; Culture (music, art and cuisine); U.S./Korean relations including North Korea; The Korean workplace, management structure, and decision-making; Popular culture and New trends, as well as, Cross-cultural insights.

The program is conducted by noted author, strategist and lecturer, Don Southerton. Don works closely with many of Korea’s top Groups including Hyundai Motor and is an experienced specialist in bridging cultures between Koreans and non-Koreans.

Don has authored numerous publications with topics centering on culture, new urbanism, entrepreneurialism and early U.S.-Korean business ventures. Southerton also extensively lectures and writes and comments on modern Korean business culture and its impact on global organizations. He is a frequent contributor to the media (WSJ, Forbes, CNN Fortune, Bloomberg, Automotive News, Korea Times, Korea Herald, Yonhap, Korea Magazine, tbs eFM Koreascape and FSR) on Korea facing business and culture.

To learn more, go to Korea 101 On-line at http://unbouncepages.com/korea-101-buy-now/

About Bridging Culture Worldwide
Since its founding, Bridging Culture Worldwide has focused on global and Korea-related business services. Based on over 3 decades of experience, they share cross-cultural insights to global teams and management. Bridging Culture Worldwide core services include: Consulting, Strategy, and Research; Publications; along with Franchise and Licensing Development, Market Entry, Product Launch, IP, and Trademark.

Visit http://www.bridgingculture.com

 

http://www.prweb.com/releases/2015/04/prweb12639641.htm

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