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Entrepreneurship in Korea offers a fresh perspective on entrepreneurship in Korea by combining a historical review of the achievements of Korean entrepreneurs at each stage of economic development with an analysis of the activities of current entrepreneurs who are at the forefront of the new Korean age. It discusses the crucial role of business entrepreneurship in each stage of Korea’s transformation from an underdeveloped East Asian backwater to a global manufacturing and technology powerhouse throughout the last 100 years. Furthermore, it provides an up-to-date analysis of contemporary start-up entrepreneurship in Korea and discusses its unique characteristics, strengths and weaknesses. Authors identify specific features of entrepreneurship in Korea, why and how business entrepreneurs have been so successful and effective, how their entrepreneurial styles and activities have changed over time, which challenges Korean start-up entrepreneurs are currently facing, and how these challenges may be addressed.
Much of the existing research looks at the outflow of companies and people from Korea to foreign countries, whilst less is known about foreign firms and workers in Korea. Considering the immense interest of both academics and practitioners in the business opportunities in Korea, this book provides a comprehensive overview of doing business in Korea and recommendations on how foreign companies and individuals can succeed in this market. This book covers a wide range of relevant topics, including the Korean business environment, market entry into Korea, management issues and entrepreneurship in Korea. This is a must-read for anyone interested in or already doing business in Korea.
Doing Business in Korea is a timely book of information for succeeding in the challenging environment of Korea, the world's 13th largest economy. the book divulges in engaging prose all the ins and outs of contemporary Korean business culture. From business etiquette and protocol to tips for marketing to Korean consumers, international business consultant Thomas L. Coyner details everything you'll need to know not just to survive, but thrive in the Land of the Morning Calm. Through this book, one will gain pivotal insight into an environment that is traditional yet uncompromisingly modern, challenging yet surprisingly rewarding for the determined business professional. With information ranging from Korean cultural and historical background to business etiquette, women's status in the workplace, negotiations, hiring and firing, labor-management relations, motivating personnel, understanding Korean consumers, marketing, advertising and public relations, dealing with bureaucrats, selecting distribution systems, working within the Korean legal system, and plenty more, this book may not be a substitute for direct experience but is definitely an indispensable companion to it.
South Korean companies and technology have suddenly conquered the world. Samsung, Hyundai and LG are industry leaders and the global brands. Korean culture in the form of K-Pop music videos and "Korean Wave" films and TV dramas are watched everywhere from Tel Aviv to Singapore to Rio. Korean gourmet food trucks ply the streets of New York and LA, and kimchi has found a place on the shelves of well-stocked supermarkets around the world. With just a fraction of Japan's land area, less than half its population, and no natural resources--how have Korean companies managed to conquer the world in such a short period of time? What is the "secret sauce" of Korean business practices and companies that makes them so successful? To find out, readers need more than statistics and company profiles. Learning the basics about Korean culture, about Korean social etiquette and Korean business culture, will enable you to understand for the first time how Koreans think and why they work so effectively to achieve their goals. This understanding will enhance your own effectiveness in doing business with Koreans, or in competing with them--whether in Korea or elsewhere.
This open access book analyzes the main drivers that are influencing the dramatic evolution of work in Asia and the Pacific and identifies the implications for education and training in the region. It also assesses how education and training philosophies, curricula, and pedagogy can be reshaped to produce workers with the skills required to meet the emerging demands of the Fourth Industrial Revolution. The book’s 40 articles cover a wide range of topics and reflect the diverse perspectives of the eminent policy makers, practitioners, and researchers who authored them. To maximize its potential impact, this Springer-Asian Development Bank co-publication has been made available as open access.
In Entrepreneurial States, an innovative examination of the comparative politics of reform in stakeholder systems, Yves Tiberghien analyzes the modern partnership between the state and global capital in attaining structural domestic change. The emergence of a powerful global equity market has altered incentives for the state and presented political leaders with a "golden bargain"—the infusion of abundant and cheap capital into domestic stock markets in exchange for reform of corporate governance and other regulatory changes. Drawing on extensive archival research and interviews with policy and corporate elites in Europe and East Asia, Tiberghien asks why states such as Korea and France have embraced this opportunity and engaged in far-reaching reforms to make their companies more attractive to foreign capital, whereas Japan and Germany have moved forward much more grudgingly. Interest groups and electoral institutions have their impacts, but by tracing the unfolding dynamic of reform under different constraints, Tiberghien shows that the role of political entrepreneurs is critical. Such policy elites act as mediators between global forces and national constraints. As risk takers and bargain builders, Tiberghien finds, they use corporate reform to reshape their political parties and to stake out new policy ground. The degree of political autonomy available to them and the domestic organization of bureaucratic responsibility determine their ability to succeed.
A decade in preparation, Immigrant Entrepreneurs offers the most comprehensive case study ever completed of the causes and consequences of immigrant business ownership. Koreans are the most entrepreneurial of America's new immigrants. By the mid-1970s Americans had already become aware that Korean immigrants were opening, buying, and operating numerous business enterprises in major cities. When Koreans flourished in small business, Americans wanted to know how immigrants could find lucrative business opportunities where native-born Americans could not. Somewhat later, when Korean-black conflicts surfaced in a number of cities, Americans also began to fear the implications for intergroup relations of immigrant entrepreneurs who start in the middle rather than at the bottom of the social and economic hierarchy. Nowhere was immigrant enterprise more obvious or impressive than in Los Angeles, the world's largest Korean settlement outside of Korea and America's premier city of small business. Analyzing both the short-run and the long-run causes of Korean entrepreneurship, the authors explain why the Koreans could find, acquire, and operate small business firms more easily than could native-born residents. They also provide a context for distinguishing clashes of culture and clashes of interest which cause black-Korean tensions in cities, and for framing effective policies to minimize the tensions.
American business folklore is awash with the adventures of successful entrepreneurs. Still, most of these stories are about Americans, neglecting important and courageous entrepreneurs from other countries. Made in Korea recounts the story of how Chung Ju Yung rose from poverty to build one of the world's largest and most successful building empires - Hyundai - through a combination of creative thinking, tenacity, timing, political skills, and a business strategy that few competitors ever understood. Chung entered the shipbuilding business with no experience and went on to create the world's largest shipyard. He began making automobiles when foreign experts unanimously predicted he would fail, and he started a global construction company that has built some of today's greatest architectural wonders. He even convinced the International Olympic Committee to select South Korea over Japan as the site for the highly successful 1988 Olympics. Unlike most CEO's of major firms, Chung has always preferred the company of his workers to that of the global executive elite. Hard work, creativity and a capacity to never give up - this is the essence of Chung's life. In each of his ventures, he exhibited a sheer determination to succeed, regardless of the obstacles, and he worked tirelessly to instil this drive in all of his employees. Even today, in the midst of Korea's worst economic crisis in over four decades, Chung's company is busy implementing plans to emerge as an even stronger contender in the world economy. Illustrated with 32 pages of colour photographs not previously seen in the West, including photos of Chung's recent historic visit to North Korea in 1998, Made in Korea takes stock of Chung's entire life, highlighting both his contributions to society and the lessons his work can teach to aspiring entrepreneurs.