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January 2023: No one does what you do
As a trusted friend constantly reminds me, “Don, no one does what you do,” — providing Korea-facing solutions.
Ensuring success and sustainability in dealing with business partnerships, whether in Korea, the U.S. or globally will require well-communicated expectations and cross-cultural understanding. In particular, any business plan and strategy need to consider differences in the cultural realities between the West and Korea.
It’s here I can help as a Korea-facing business advisor proving solutions and echoing the opening statement: “Don, no one does what you do.”
This noted… understanding the nuances in deals, impasses, market entry, contracts, legal agreements, and negotiations go hand in hand with global business.
As an example,… it is common in Korea that the purpose of signing a contract or agreement is essential to formalize the partnership. Over time terms may be be subject to change and re-negotiation.
My Korea facing experience has been that the contract fundamentally solidifies the working relationship. However, to maintain the partnership contractual obligations the contract will require on-going changes to reflect business conditions. In contrast terms in legal agreement in the West are seen as immutable.
