The Effect of Korean Culture and Its Impact on International Business
by Mahadi Hasan Miraz, Dr. Md. Mamun Habib, Mohammad Ismail Majumder
Different countries have dissimilar cultures from the influence of its religions, tradition, norms and ritual. South Korea has its unique cultures and these cultures influence people’s daily lives as well as its business performance, especially in international business. It is essential for foreigners or multinational companies in South Korea to understand those cultures and use them suitably to work better with Korean employees or partners. This paper mainly focuses on six parts of the Korean culture, which are Kibun, Inhwa, the power distance and hierarchy, Confucianism, the personal relationships in doing business, and business custom in Korea. All of these critical aspects of the Korean culture have strong influences on the way how to do business in South Korea. Without understanding them, it is hard particularly for foreigners and foreign companies to do their business in Korea efficiently and proficiently and have all successes in their business in Korea.