Korean Market Culture

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Korea, having a special market, gives a diversity of special scenes every day. Vendors serving customers regardless of weather, their culture of ' 'deom ' ' which is the addition of more item to the cart for no extra charge, as well as the affectionate haggling are one of the few unique aspects of the Korean marketplace culture compared to Singapore. In this report, a marketing cultural report would be provided, with the insights on the culture, emphasizing the difference as compared to Singapore. It is of upmost importance to understand how these different cultures perceive each other and create awareness of the ' 'cultural mine field ' ' that may exist within a large organisation.
The rational of Korea as my choice is with connection with …show more content…

When they exchange gifts it will build up good relationship. For first time gifts it is considered a good gift if it is a office item with the company 's logo on them. Food is also recognizes. It is considered good etiquette if u reject a gift when being offered but if the giver insists more than once it is appropriate to accept it. With regards to meetings, the culture in Korea is the importance of punctuality. Punctuality is the upmost importance in Korea. Before entering the meeting room the most senior member must enter the room first and must be sat in the middle of the table. It is good to know that having good relationship wins over business when doing business in Korea. If you get to know them first before talking about business matter will make most of the trips more fruitful as it is much easier to close the deal with great personal relationship. In Singapore it is different from Korea because if you have high authority people will respect you no matter you are old or young, but respecting elders and seniors regardless of their authority still exist in the Chinese and Asian …show more content…

Reason being for choosing Korea itself is because of its long history of uniqueness in culture as they are known as a land of morning calm and famous for their rich history. As we consider the effectiveness of what companies can take to consider when doing businesses in Korea, we have considered and emphasised on the Hofstede Framework by Dutch psychologist Geert Hofstede on the five dimensions of analysis such as the Individualism versus Collectivism, Power distance, Uncertainty Avoidance, as well as the Long-Term Orientation for instance as these factors contributes an important part of efficiency and

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