- Follow The Confucian mind-set
- Respect people of higher rank or age
- Strong sense of loyalty towards
- Has its own alphabet , hangul , consisting of 24 written characters ( 10 vocals and 19 consonants)
- Suit and tie is mandatory for business meeting
- Essential to bring business cards when having a meeting
- Omitting to present the business card or giving an excuse is counted as an insult and disrespect
- Presented after handshake or small bows
- Received it with both hand or with one hand supporting the giving/receiving hand about the wrist or a bit behind
- If one or more card is received, they should be placed on the table so that all cards can be visible.
Negotiation
- Koreans are impatient and make emotional, spontaneous decisions
- Be aware that a signed agreement, from a Korean point of view, will not always be considered an obligating agreement (starting point for further negotiation)
- Even though Koreans want to see fast results, we cannot be too aggressive
- Maintaining mutual trust and confidence in a business relationship is extremely valuable
- Business partners should take the time to get acquainted in a relaxed and informal context (lunch, dinner & drinks)
Meeting Etiquette
- Shake hands with expatriates after the bow
- Most senior person initiates the handshake
- The person who initiates the bow says, "man-na-suh-pan-gop-sumnida", which means "pleased to meet you.''
- Wait to be introduced at a social meeting/gathering
- When leaving a social meeting, say goodbye and bow to each other respectively
Both sides are pleased and happy with the negotiation that was made.
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