Trends in South Korean Market

  

Trends in South Korean Market

South Korea is one of the developing countries in Asia. Besides China and India, the country has a wide spread history which is found in its culture and customs. In the past the country faced lots of economical challenges but due to growth of several sectors in the area, the country has got a great economical health. At present, the country stands among the leading countries of the world.

Confucian Concepts of Etiquettes:
Confucius is one of the major trends to do business in South Korea. Confucius refers to the system of political and social ethics by a Chinese Philosopher emphasizing order, moderation and difference between superiors and sub ordinates. The business relationships in South Korea are formed with respect to the maximum age, best education and authoritative skills and capabilities. Korean business person will ask you about many facts such as marital status, age, qualification, educational grades, experience and many other things before making business interactions and relationships. Their queries will also inform how they are treating you.
Secured Relationships:
South Korean people avoid doing business with strange people. Unless, they do not trust you or do not have close and secured relationship, they would not share any data or information related to their company. Number of non-business conversations and interactions will help to get acquainted with the business people and to build a trustful relationship. These little talks will also help you to decide whether to start business with the related company or person or not. And also satisfy their queries in deciding to form business connections.
Socialization:
The best way to know the business people and their concerns is to socialize with them outside of the business departments and companies. Lunch, dinners, shopping and other informal occasions are very helpful to know each other personally and to understand their demands and concerns.
Business Punctuality:
South Korea is one of the countries with the good sense and implementation of business punctuality. Arriving in meetings and business conferences is one of the way of punctual business processes. Moreover, in South Korea the trend of business cards is very common. Business cards are the great source of information of the person you are meeting for business concerns. Information including your title, educational qualifications, your current position and requirements can be understood very easily through business cards.
The Bow and the Handshake:
It is the custom of South Korea to bow or shake hands and a symbol of respect by South Korean people. If you are meeting someone who is elder than you, it is customary for you to begin the bow. Shaking hands with both hands is regarded as a sign of respect.
Investors are looking at the trends of the South Korean market. The country welcomes the investors for investment in several sectors like agriculture, mining, fishing, automobile, electronics and manufacturing. It is good way of investment for investors to get interested in the South Korean finance market and get a huge result.

 

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