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Decision-making and Approvals: Korean Business Culture Insights

Decision-making and Approvals

Hot topic…This week, I share two of my Korea-facing business perspectives—decision-making and approvals. Are you developing a high-priority project or business proposal? I can provide perspective to ensure success. Let’s talk. 

Decision-making and Approvals: Korean Business Culture Insights

This week, I am sharing two of my Korea-facing business perspectives—decision-making and approvals. 

In most Korean companies leadership decides on direction and major issues. In turn, the working and local team’s role is to gather and prepare needed information. 

Then, if approved they will report back to HQ on implementation and progress.

In cases where overseas leadership and teams hope to offer an idea, new service, or program, local Korean management’s role is often to gather information and then share it with the appropriate senior team members, who are often in Korea. The local opinion is valued, but review and final approval may come from Korea.

My suggestion…

When conducting a meeting where a decision must be made please recognize that your local Korean team(s) will have a considerable say in the outcome. This may include both the operations and finance teams. 

First, since the topic and subject matter may be new to your Korean team, I recommend you share before the meeting any needed background documents (best provided in PPT format). 

In addition, have an informal pre-meeting Q&A with the Korean team leader to brief and update them on any specifics.  Note: they may need a day to review proposals and agreements, so timing is critical.

Even in the best cases, expect that the Korean team may want to postpone any decision until they can carefully review and perhaps confer with Korea. I suggest all documents and meeting PPTs be immediately forwarded to the Korean team. I’d create a sense of urgency with a timeline for execution and implementation. 

Regardless, expect some delays and be patient. Over the years, I’ve found that Korean teams appreciate when their overseas co-workers recognize that the internal approval process takes time and be ready to offer as-needed supportive data or documents.

The Approval

Within hierarchical business structures approvals usually require several people to “sign off” on a program before commencing the project. For those who are used to leaner organizations, the process can be seen as time-consuming and lead to frustration and delays. 

First, once the go-ahead agreement to move forward on a project is reached within the local organization’s team, the Korean team, too, often has its internal procedures that usually include both Operations and Finance approvals. 

Depending on the size of the local organization and whether the project needs review by the Korea HQ, I’ve experienced projects requiring several “approvals” leading to a “final” approval. 

For example, once the Korean team agrees to a project, it may mean their team has signed off, but the project must still go to senior management for their okay. 

Once senior management has approved, it may go to a COO or CEO for “final” review. 

I’ve found Korean teams can be rather vague in sharing the number of approvals in part because the approval chain may change with each project. 

In other words, the Korean teams are aware there are several approvals, but depending on the nature of the project and the costs involved higher levels of approval might be required. 

I recall a Korean team leader on one project rather humorously reporting approvals several times over a week and then upon receiving a final approval at the end of the week remarking that it was really the “final” approval. 

In some cases, I’ve seen companies with several C-levels sign off, but the project still waits several more days for a senior CEO or their Board to approve. 

In the best instance, these senior approvals go smoothly when senior leadership trusts the judgment and needs of the local organization’s team. 

However, in other situations, leadership may request additional specifics on the project. More concerning, I’ve witnessed senior leadership ask for modification, dramatically affecting previously negotiated terms and conditions of the agreement. 

One example of CEO intervention that is not uncommon comes to mind. Several years ago, I was organizing and facilitating a 10-day Global Manager Leadership workshop in Korea for one of the Hyundai Motor Group’s top divisions. 

Participants from the U.S., Europe, the Middle East, India, and Asia-Pacific would be attending. Plans were set, dates confirmed, and approvals were obtained up to, but not including, the CEO, an approval thought to be just a formality. 

To the surprise of some, the CEO asked the Korean team a number of pointed questions. Uncomfortable with the level of response and sensing the team was rather inexperienced at organizing a global event, he asked the workshop to be postponed with the team re-grouping and coming back in a few days with some data/metrics centered on outcomes from past events and specifically their impact on long term employee loyalty. 

Take away

Be aware that projects might be ‘approved,’ and you will be expected to move forward but there may be the ‘Final Approval’ before a true engagement. In the best cases, I have witnessed a quick sign-off by a CEO.  In the worst case, they will either want things restructured or postponed. 

Are you developing a high-priority project or business proposal? 

I can provide perspective to ensure success. Let’s talk. Call or Text 310-866-3777  EM Dsoutherton@bridgingculture.com

https://www.bridgingculture.com

Chemulpo to Songdo

Looking back: Chemulpo to Songdo

Circa 2009. Photo by The Korean Daily and Nathaniel Taeho Yu, Ph.D.

With my considerable work today in support of South Korea, the City of Incheon, the Incheon Free Economic Zone (IFEZ), and Songdo, I’m reminiscing about my 2009 release and signing of the book, “Chemulpo to Songdo IBD: Korea’s International Gateway.” Media coverage was extensive in local U.S. and Incheon news. Thanks, Nathaniel Taeho Yu, Ph.D. for the great photo.

The event attracted over 100 attendees, including Mayor Ahn Sang Soo, American officials from the Songdo IBD project, members of the press, and local dignitaries.

Looking back, Incheon and Songdo have a rich international business history, and today, one that continues to adapt and draw global attention and opportunity.

I’ll be talking and writing about that more, so stay tuned.

Meanwhile, to view a complimentary copy of Chemulpo to Songdo IBD: Korea’s International Gateway. Sparing no effort, I wrote in both English and Korean.

Chemulpo to Songdo
Cover Image

Many of the photos were published for the 1st time.

Chemulpo to Songdo
Photo Courtesy BCW and Keystone-Mast Collection, UCR/ California Museum of Photography, University of California, Riverside

And, the book is cited frequently, and the photos are amazing…

Go here to view the book https://play.google.com/books/reader?id=mUPfc5Z72IAC&pg=GBS.PP1

Two Best Sellers: Korea 101: The Book, Hyundai Way

Two of Our Most Popular Books… Korea 101 and Hyundai Way: Hyundai Speed, The Third Edition

Korea 101: The Book https://a.co/d/4k0nNaQ

For over 20+ years, I have presented Korea 101 programs to more than 10,000 participants across the globe. Korea 101: The Book shares insights and experiences with my ‘boots on the ground’ in the classroom, boardroom, and, more recently, remotely.”

Two Best Sellers: Korea 101: The Book, Hyundai Way

Hyundai Way https://a.co/d/dHJdwYy

Building on the past, this revised edition, too, looks at the transition to Smart Mobility and the corresponding workplace overhaul to become an agile global player.

Two Best Sellers: Korea 101: The Book, Hyundai Way

Have a Korea-facing question?  Just ask dsoutherton@bridgingculture.com

Don Southerton

Korean Business Culture Question?

Korean Business Culture Question

Don Southerton Thought Leader

Do you have a Korean business or cultural question?

Let’s talk. This is an opportunity to discuss over the phone, or through video chat on a pressing Korean business or cultural question.

Always confidential.

Email dsoutherton@bridgingculture.com to set the time. Text or call 310-866-3777.

Looking forward to talking.

Never an obligation. No strings attached 🙂

Don

https://www.bridgingculture.com

June Session of Korea 101: The Intensive

Register today for the June Session of Korea 101: The Intensive

Space is limited.  Register at https://buy.stripe.com/7sI03M8q17vJgLubIJ

$495.00 Credit cards accepted.

or to register, go to https://www.bridgingculture.com to register.

Dsoutherton@bridgingculture.com or Text/ Call  310-866-3777

Weekly online classes will cover topics including…

1.     Working with the Korean Business Culture

2.     Developing and Maintaining Korean Business Relations

3.     Do’s and Don’ts for Korea Business

4.     Korean Decision-making

5.     Managing Expectations

6.     Legal Agreements–Subject to Change and Revision

7.     What to expect in 2024

8. Weekly current events and Q & A Discussion

June Session of Korea 101: The Intensive

Monday Morning Culture Lesson—Korean Business Relationships

Don Southerton  Thought Leader

By Don Southerton

As I shared in Korea Perspective (2015) there is an interconnectedness in the Korean workplace. In particular, complex relationships abound.

This is true whether workplace operations are in South Korea, Germany, Brazil, India, or the Americas.

Directives and requests originating in Korean headquarters radiate to global operations.

In turn, inputs from local working teams, Korean and Western, make their way back to Korea impacting decisions by leadership. Relationships also play a strong part in this process.

What may appear one-sided and perhaps top-down may be the result of months of study, benchmarking, and research, as well as internal discussions and Korean peer input.

For reasons unclear to local overseas teams, projects can stall, while others re-boot.

Amid the disruptive business conditions, how overseas teams, Korean and Western, working in collaboration matters.

We all recognize that within divergent cultures and mindsets, both sides must bend, compromise, and adapt, as both are parts of a greater whole.

That said, at times tensions culminate in relationships between Korean and Western teams that can become confrontational or stall.

The good news in this era of disruptive business the most strained relationships can be repaired.

A negative relationship turned positive can be a very strong one.

Here are some key takeaways from the Harvard Business Review article, “Fixing a Work Relationship Gone Sour” (2014).

1. Give up on who’s wrong or right

2. Look forward, not back. You can take a solution-focused approach.

3. Understand from the other person’s perspective. “How do they see things?” “What are their contextual factors that need to be considered?”

4. Instead of debating what went wrong and who is at fault, create a space where you’re aligned. It can be helpful to focus on the bigger picture — the common, shared goal.

5. Don’t assume that things will change immediately ¬— repairing relationships can take time

All said, my work is focused on working through challenges and providing teams with solutions. As always, let’s talk and discuss the options.

Dsoutherton@bridgingculture.com

South Korea’s Free Economic Zone (IFEZ) Newsletter

South Korea’s Free Economic Zone (IFEZ)
Photo courtesy of IFEZ

South Korea’s Free Economic Zone (IFEZ) Newsletter shares how the district has positioned itself as the global hub for future industries such as bio-healthcare, smart manufacturing, high-tech finance and future robots, information and communication (IT), and artificial intelligence (AI) while making great strides as a hub for distribution, logistics, tourism, and MICE. #songdo

Please check out our Newsletter https://stibee.com/api/v1.0/emails/share/lp9zm4qG0yY9K45_RHds5rRVGh3ppNE

Questions? Please ask…. dsoutherton@bridgingculture.com

310–866–3777

Black Mass and Upcycling

Black mass and upcycling. Once a lithium battery reaches the end of its useful life or becomes damaged, the battery pack can be collected, dismantled, and shredded.

The shredded material is then processed to produce what we in the industry call black mass, not be confused with an astrophysics term, or a dark movie on Netflix.

This black mass can consist of high amounts of lithium, manganese, cobalt, and nickel metals. EV batteries use these metals in ratios which we label as NMC 622 or 811–60% nickel, 20 % manganese, and 20% cobalt, or 80% nickel, 10% manganese, and 10% cobalt. [1]

These metals when sent to a facility can be reclaimed from the black mass and in direct recycling reused in new battery production.

Black mass and upcycling
(Image courtesy of Argonne National Laboratory.)

I like to use the term upcycle vs recycle for these materials.

As I wrote in my End-of-Life article, “The Lithium-ion Battery Life Cycle: Mandates, Sustainability, Recycling, Recovery,” compared with the West, Asia — specifically China and Korea have been at the forefront in recovery and re-use — reclaiming batteries’ black mass.

I reported in 2021, “… with strong encouragement from the Korean government, many of the nation’s top groups are actively engaged in some form of end-of-life program. For example, Korean steel producer POSCO, looks to import waste battery scraps concentrated in a powdered form from Europe. Likewise, the Hyundai Motor Group, SK Innovation, and LG Chem all have programs to ensure used batteries have second-life applications, or are recycled and metals such as Lithium, Nickel, and Cobalt are recovered. These programs made lots of sense, as Korea is one of the world’s largest producers and innovators of Lithium-ion EV batteries — with accordingly a high demand for these raw materials.”

Fast forward…

This trend has shifted with new incentives for North American battery recovery.

For one, the U.S. government has mandates to shore up batteries among the nation’s key strategic interests. Second, the government looks to make the U.S. more competitive in the battery market.

These programs include the Inflation Reduction Act (IRA) and other funding under the Biden Administration such as The Energy Act of 2020, and the Bipartisan Infrastructure Law (BIL), which, together with the IRA, offer billions of dollars to the Department of Energy (DoE) funded government programs.

These monies do come with some restrictions.

Specifically, under the Inflation Reduction Act, vehicles that use batteries that contain (i) any “applicable critical minerals” that were extracted, processed, or recycled by an FEOC [ or (ii) any component manufactured or assembled by an FEOC would be ineligible for the $7,500 Section 30D consumer tax credit (Sec. 13401(e)(7)) starting after 2023.

A FEOC is defined as a Foreign Entity of Concern and, with reference, to the IRA, a Chinese company or entity controlled by a Chinese firm.

These prohibitions take effect in 2024 for EV battery components and in 2025 for “applicable critical minerals.”

A Question.

In a recently attended EV battery panel, I raised a question, “Will we, like in the EU, see more regulations for End of Life?” [For example, the new EU regulations will over the next few years, mandate minimum levels of recycled content in batteries, noting end-of-life batteries contain many valuable resources and these critical raw materials must be reused instead of relying on third countries for supplies.]

The panel’s consensus was that unlike the EU and their use of widespread regulations; the thought was for the U.S. to continue to use more of a carrot approach — incentivizing reclaiming battery materials. Something we can see in a range of DOE grants now being offered.

In closing,

One final takeaway the driver for reclaiming black mass is sustainable profitability. The critical metals, NMC, for example in the black mass in this form have a value that may or may not be competitive against new widespread sourcing of the rare materials.

That said, when the reclaimed key materials are further refined and separated from the black mass their value increases 3-fold, and even further new processes increase the value 6 times.

I have also read that these refinements in the reclaiming process can result in improvement in the very EV battery life span, battery density, and range… all of which add considerably to what I see as “Upcycling”.

About the Author.

Mr. Southerton provides strategy, consulting, and training to Korea-based global businesses.

This includes long-time support of many of the major Korean Groups including the Hyundai Motor Group, SK Corp., and LG.

He also has supported Korean market entry for several innovative small and medium enterprises (SMEs). Most recently Southerton has been engaged in the mobility, electrification, and the battery sector.

On related issues, Southerton has been a contributor to CNBCThe Economist, Automotive News, the BBC, CNN Fortune, Korea Times, Yonhap, tbs eFM, Wall Street Journal, and Forbes.

[1] Most EVs today use either lithium-ion NMC, NCA (Aluminum), or lithium-ferrous LFP chemistry batteries. There are advantages and disadvantages.LFP: lower cost, lower density, higher discharge cycles; and NMC/NCA: higher cost, higher density, lower discharge cycles. Regardless they all contain ametals that are reclaimable.

Korean Business: Challenges and Solutions 50 Workplace Hints, #2 Managing Expectations

I am often asked to assist with Korea-facing business ventures. This can be a North American firm just entering the Korean market or a Western company already with operations in Korea.

Too, I am also asked to support top Korean Groups with their overseas operations.

Most often Korean and Western senior leadership teams did a great job of gaining mutual trust. Both negotiated well. The deal is signed and it’s time to perform.

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

There are several reasons. One is that teams that meet, bond, and negotiate are seldom the ones doing the work. The teams on both sides that crafted the deal are better skilled in global business. The teams doing the work are talented, but usually less skilled in local affairs.

Many Westerners have no recent experience working with Koreans, and the Korean teams have limited experience working with North America.

A caveat to this is that many of the Korean teams are bright, but very junior, new to the workplace, and tend to be generalists, while Western teams are comprised of highly specialized industry veterans.

So, what’s the solution?

Frankly, in our experience, the most successful firms show great leadership and vision. They also recognize both sides will need constant ongoing support and training.

Expecting the teams to “get it” seldom works — and if it does it takes time, is costly, and contributes to stress, poor productivity, and even employee turnover. Expecting non-Koreans to understand Korean culture, business models, and workplace expectations is like throwing someone into a pool and assuming they will swim, not sink.

That said, a huge mistake is hiring an industry consulting firm without a full understanding of the specific challenges and cross-cultural issues. In many cases, they fail to get to the root of the problem(s) and expectations are never fully clarified. Issues will surface. Things will get worse.

To conclude,

In dealing with partnerships, I understand the huge stress loads within Korean-based firms. Teams need to perform. Partners will also be expected to perform. Clear, well-communicated expectations and cross-cultural understanding from the beginning are vital, along with a strong business plan and strategy.

Need a solution, I am here on-call with practical workarounds and seasoned experience in overcoming the challenges. Waiting only adds layers and costs.

Text 310–866–3777 

Dsoutherton@bridgingculture.com

Why we need Korean business cultural training

Why we need Korean business cultural training. My “no punches pulled” Q and A. Targeted cross-cultural support and coaching are necessary for local teams to succeed in working with overseas Korean business projects.

By Don Southerton

Q. Why do we need Korean cultural training?

A. This may be the first time working with a Korean team. This opportunity brings with it great opportunity and the need to better understand the new partner’s culture, workplace norms, and expectations.

In most cases, Western teams will interact with Korean HQ and expatriate teams. Some of the teams will hold a line managerial position with day-to-day responsibilities alongside Western managers, while others will hold key management C-level positions, such as CEO, COO, or CFO. In many, if not most, cases, these teams may operate as a “shadow management” with considerable oversight and operational control over local operations.

With the best of intentions, the Korean teams will look to build strong collaboration and teamwork and try to avoid a sense of us and them. However, they do bring Korean work norms that can conflict with Western work-life balance and Western working methods. 

More so, Korean teams may make seemingly one-sided decisions with the company’s best interest in mind but without consulting local teams, causing mistrust.

A solid training and coaching program followed by ongoing support can address differences, such as sharing work styles, hierarchy, and comfort levels, plus providing workarounds.

Q. What are some typical issues that arise, especially without training or coaching?

A. As with all individuals, no two of us are alike –and the same goes for Westerners and Koreans… Each has their unique strengths, skills, experiences, and personalities.

Expecting local teams to “get it” without support and training seldom works. Even if a better understanding of the work culture eventually occurs over time, this “learn as you go” approach is costly, contributing to stress, poor productivity, and even employee turnover. Sadly, the most common mistake I see is waiting to see if tensions rise, and workers quit before acting. 

 Q. Can you cite an example of misunderstandings resulting in mistrust, loss of time, resources, and profits?

A. A challenge I was recently asked to address was the intervention by the expatriate partners in decisions that are best handled by local Western teams.

Probing the issue, I learned that based on extensive experience in the market and industry, the local Western management felt these decisions were often short-sighted, reactive, and not aligned with their well-thought-out strategy. Some saw it as a “cut twice, measure once” approach and “ready, fire, aim.” 

Of even more significant concern were one-sided decisions not resulting from the collaboration. In any case, local management felt their input and expertise were being marginalized. As pressure to meet HQ expectations, avoid any negative news, as well as missing Sales or Production “Targets” they saw increased intervention by the expatriate teams.

In this case, I worked with the Western teams to provide some proven workarounds, particularly tempering the Korean teams’ pressing for immediate results.

Specifically, I shared ten steps.

1. To soften jumping to implement a stop-gap plan with hopes of producing immediate results, look to minimize the anxiety for both the local Korean team and the headquarters team. Please be sure to show confidence that the challenge can be overcome.

2. Acknowledge your team’s high engagement and assure the Korean teams that action will be taken promptly.

3. As a next step upon receiving a directive from Korea, have an informal discussion with local Korean teams to brief them on action steps that enable the team to work through what needs to be explored more deeply.

4. Follow up with email correspondence confirming the verbal discussion.

5. Allow a day or two for the Korean team to review your action plan. In many cases, the Korean teams are not familiar with local practices and the vocabulary used to describe Western technical nuances.

The local expat teams may also want to report back to Korea on progress. HQ leadership is ultimately responsible, so the better informed they are, the more trust they will have in local teams — Korean and Western — that the project will progress.

6. Remember that you may receive only some feedback promptly because of time differences.

7. Conducting informal daily updates to the Korean teams and sharing the steps undertaken with the local Koreans can also be helpful.

8. Even better is reporting positive accomplishments in your review process.

9. It is essential to address the potential trade-offs and risks as action steps leading to solutions and assuring the team that these steps will not impede the project and may, in fact, avoid costly setbacks.

10. Finally, having said all this, maintaining trust through strong relationships between Korean and Western local organizations is essential.

Q. What have Koreans told you about Americans? Work habits, commitment, etc.

A. If you ask Korean expats how they perceive Americans and Westerners in general, responses would be very positive and respectful, especially toward Western work ethics and work habits. Koreans see great value in American and Western teams providing them with new insights, perspectives, and best practices.

A. What might be covered in Korean business culture training?

I see the training as twofold — 1) providing teams with an understanding of the Korean partner’s affiliate company history, heritage ( challenges overcome), trends, and expectations! , and 2) sharing the Korean workplace and its norms, practices, and workarounds. One nuance I share is that Korean overseas operations can differ from those in Korea, something I am most familiar with. 

Above all, a best practice is to celebrate similarities and shared values when possible, along with instilling an awareness of and respect for cultural differences.

Addressing the team’s questions and concerns is also vital with issues, such as work-life balance, safety and quality processes and procedures, and Korean partners’ overall expectations.

Q. Anything else?

A. To conclude, the need for cross-cultural training programs for local employees and management is a high priority.

The assumption that local and expatriate teams can bridge cultural gaps through practical on–the–job experience might work with those few highly intuitive individuals with the exceptional ability to assimilate cultures.

What stands out in numerous studies, however, is the need for ongoing multicultural training, that can successfully impact people, especially those who need to quickly adapt to new or changing business culture and values, while fostering sensitivity and teamwork among all company members.

Finally, I have found a tiered service model — training, mentoring, and ongoing strategic support- to be the most effective approach for an organization. For leadership, they most often benefit from one-on-one coaching, too.

Don Southerton