I.

EXECUTIVE SUMMARY

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 II. INTRODUCTION

An old Korean proverb says “What looks good tastes good”. In short, ancient
Koreans carefully considered both the taste and visual appeal when preparing food. In
the author’s opinions, not many cultures can match Korean food from an aesthetic
standpoint, therefore, is an incredibly meaningful and fascinating endeavor.

Developing an understanding of Korean culture and its influence on business

practices is essential in a firm’s success in Korea. Koreans hold to firm Confucian
traditions, which emphasize respect for education, authorities and those who are older.
Although modern Koreans may not adhere to Confucian principles as rigidly, these
principles continue to underpin many customs and business practices. Given the
importance and value that Confucianism places on relationships, beyond their family,
many Koreans are loyal to others associated with their own company, alma mater,
hometown or place of worship. Koreans are comfortable in doing business with people
to whom they feel personally connected.

Korea ranks 15th in the world by GDP. It is a huge exporter of goods as well as a
massive importer. We can’t deny the fact that South Korea is a good place for business.
Korea might be considered a small market compared to US or China but it is a fast and
expanding market.

Pampanga’s Best is a multi-million meat processing corporation. It has been

serving “the original and the special tocino since 1967. “Tocino”; derived from a Spanish
delicacy that is sweet. From that is the birth of Pampangas Best Tocino – The Original
Version of what has now become a national favorite.

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 III. THE COUNTRY’S ENVIRONMENT

Socio Cultural Aspect

GEOGRAPHICAL

(Location)

South Korea is located in East Asia, on the southern half of the Korean Peninsula jutting
out from the far east of the Asian land mass. The only country with a land border to
South Korea is North Korea, lying to the north with 238 kilometres (148 mi) of border
running along the Korean Demilitarized Zone. South Korea is mostly surrounded by
water and has 2,413 kilometres (1,499 mi) of coast line along three seas. To the west is
the Yellow Sea, to the south is the East China Sea, and to the east is Ulleung-
do and Liancourt Rocks in the Sea of Japan (East Sea). Geographically, South Korea's
land mass is approximately 100,032 square kilometres (38,623 sq mi).[1] 290 square
kilometres (110 sq mi) of South Korea are occupied by water. The approximate
coordinates are 37° North, 127° 30 East.

(Population)

The current population of the Republic of Korea is 50,663,895 as of Tuesday, April 18,
2017, based on the latest United Nations estimates.

South Korea population is equivalent to 0.67% of the total world population.

South Korea ranks number 27 in the list of countries (and dependencies) by population.

CLIMATE

Part of the East Asian Monsoon region, South Korea has a temperate climate with four
distinct seasons. The movement of air masses from the Asian continent exerts greater
influence on South Korea's weather than does air movement from the Pacific Ocean.
Winters are usually long, cold, and dry, whereas summers are short, hot, and humid.
Spring and autumn are pleasant but short in duration. Seoul's mean temperature in
January is −5 to −2.5 °C (23.0 to 27.5 °F); in July the mean temperature is about 22.5 to
25 °C (72.5 to 77.0 °F). Because of its southern and seagirt location, Jeju Island has

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warmer and milder weather than other parts of South Korea. Mean temperatures on
Jeju range from 2.5 °C (36.5 °F) in January to 25 °C (77 °F) in July.

EDUCATION

Education in South Korea is provided by both public schools and private schools. Both
types of schools receive funding from the government, although the amount that the
private schools receive is less than the amount of the state schools. South Korea is one
of the top-performing OECD countries in reading literacy, mathematics and sciences
with the average student scoring 542 and has one of the world’s highest-educated labor
forces among OECD countries. In 2015, the country spent 4.7% of its GDP on all levels
of education – roughly equal to the Organization for Economic Cooperation and
Development (OECD) average of 4.7% also

Elementary schools (Korean: 초등학교, chodeung hakgyo) consists of

grades one to six (age 8 to age 13 in Korean years—6 to 12 in western years).

Middle schools in South Korea consist of three grades. Most students enter at age 12 or
13 and graduate at age 15 or 16 (western years). These three grades correspond
roughly to grades 7-9 in the North American system and Years 8-10 in
the English and Welsh system.

LANGUAGE
RELIGION

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 Technological Aspect

As the world's 12th largest economy, Korea has emerged as a success story in
many ways. In 2008, Korea's trade volume amounted to US$857 billion, ranking 11th in
the world. Korea also has the sixth largest foreign reserves. South Korea is also among
the world's most technologically advanced and digitally-connected countries; Korea is
the world's largest shipbuilding nation. It has the third most broadband Internet users
among the OECD countries and is a global leader in electronics, digital displays,
semiconductor devices, and mobile phones. Since the early 1990s, the Government has
been concentrating on three areas: fostering research in the basic sciences, securing
an efficient distribution and use of R&D resources, and expanding international
cooperation. These efforts are intended to increase Korea's technological
competitiveness.

Contribution to Society

The IT industry and, to a lesser extent, biotech have become the major drivers of
technological development. The shift from the old industrial to new high tech economy
facilitated a recasting of national efforts. A refocused state helped midwife the nascent
IT sector, through a combination of privatization of the national telephone service
provider, creation of infrastructure, and dispute moderation. Even so, recent doubts
about Korea’s overall IT competitiveness have arisen.

Recent Research and Development

South Korea punches far above its weight when it comes to spending on
innovation. In 2012, Korea spent 4.4% of GDP on research and development. That’s the
highest among the developed nations tracked by OECD, the Paris-based rich nation
think tank. The private sector is a key driver. Private-sector R&D spending is up 35%
between 2008 and 2011, and has more than doubled since 2003

The surge has pushed Korean patents up 32% since 2008. And South Korea’s share of
global patent production was up to 5.7% in 2011, the last year of available data. (It was
2.3% of global in 2003.) There’s a fairly simple reason for Korea’s hypertrophied

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business R&D: Although much of this growth has been in the private sector, it’s heavily
government-subsidized.

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Economic Aspect
Agricultural Sector

Agriculture in South Korea is a sector of the Economy of South Korea. The natural
resource for agriculture in South Korea is not abundant. Two thirds of the country are
mountains and hills. Arable land only accounts for 22 percent of the country's land. The
most important crop in South Korea is rice, accounting about 90 percent of the country's
total grain production and over 40 percent of farm income. Other grain products heavily
rely on imports from other countries.

With the rapid growth of South Korea's economy and urbanization, areas of farmland
have been decreasing and rural populations have moved from the countryside to cities.

Industrial Sector

The industrial sector growth was the key stimulus to economic development in South
Korea. The country's main industries include automobiles, electronics, steel products,
semi-conductors, shipbuilding, and textiles. The industrial sector accounts for 19.1% of
country's work force.

A recession in the economy of South Korea in the year 1989 prompted by a decrease in
exports and foreign orders, became a cause of great concern in the industrial sector.

Service Sector

The services sector accounts for 67.2% of the country's GDP according to the 2006
census. The service industries include restaurants, hotels, laundries, insurance, public
bath houses, health-related services, and entertainment businesses. In the mid-1980s,
the retail trade was the country's largest employer in service sector.

Between the years 1997 and 2001 the percentage of the share in employment in
services industries increased from 66% to 70% of the total workforce of the country.

GDP and GNP Report

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South Korea's real gross domestic product expanded by an average of more than 8
percent per year, from US$2.7 billion in 1962 to US$230 billion in 1989, breaking the
trillion dollar mark in 2006. Nominal GDP per capita grew from $103.88 in 1962[64] to
$5,438.24 in 1989, reaching the $20,000 milestone in 2006. The manufacturing sector
grew from 14.3 percent of the GNP in 1962 to 30.3 percent in 1987. Commodity trade
volume rose from US$480 million in 1962 to a projected US$127.9 billion in 1990. The
ratio of domestic savings to GNP grew from 3.3 percent in 1962 to 35.8 percent in 1989.
In 1965 South Korea's rate of growth first exceeded North Korea's rate of growth in
most industrial areas, though South Korea's per capita GNP was still lower.

Entrepreneurial/Investment Status

The growth of entrepreneurship in South Korea has turned the country into an economic
powerhouse. In this collection of essays, scholars highlight the favourable political and
cultural values conductive to its development, including the characteristics of
entrepreneurial family firms and the impact of new media and globalization.

Employment Status

The number of employed persons in South Korea increased to 26622 Thousand in

March of 2017 from 26541 Thousand in February of 2017. Employed Persons in South
Korea averaged 23575.70 Thousand from 1999 until 2017, reaching an all time high of
26622 Thousand in March of 2017 and a record low of 20275 Thousand in June of
1999.

South Korea’s jobless rate decreased to 3.7 percent in March from 4 percent in
February of 2017. The number of unemployed persons fell by 85 thousand to 1,023
thousand and employment went up by 81 thousand to 26,622 thousand people. The
labor force participation rate rose to 62.8 percent from 62.2 percent. A year ago, the
jobless rate was 3.8 percent. Unemployment Rate in South Korea averaged 3.63
percent from 1999 until 2017, reaching an all time high of 7.10 percent in June of 1999
and a record low of 2.90 percent in November of 2013.

Business Laws

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The South Korean government has imposed heavy restrictions on doing business with
North Korea under the National Security Act. In addition, there were restrictions on
engaging in financial transactions with Iran under the Foreign Exchange Transactions
Act. The South Korean Government recently lifted most of those restrictions, but some
of the restrictions will remain for a certain period of time.

Business Practices

Dress Code

 Dress is conventional and conservative for both women and men

 Dark suits, white shirt and tie are accepted as the norm for men
 Suits, dresses, or blouse and skirt are acknowledged for women. Trousers are
not generally worn for business
 Women should avoid sleeveless, tight-fitting garments
 Colours should be understated and traditional
 Good quality accessories are accepted
 Be aware that winter can be very cold, and summer very hot, in South Korea

Titles

 As discussed previously, Koreans have three names; they are used in order of
surname, generation name, and then given name.
 If unsure address people as Mr. _____ (surname) or surname ______ and then
their title (teacher, professor, etc)
 Generally, Koreans will offer you their name, which may be a westernised
version of their Korean name

Business cards

 Business cards are considered important and ritualistic in Korea

 It is advisable to have one side printed in English and the other in Korean

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  Give and receive cards with both hands, with the Korean side uppermost for
ease of reading
 Take time to read and examine the cards you are given – it is respectful
 Place cards in a holder to keep them safe and show you are treating them well
 Never write on or mark the cards you are given

Meetings

 Organise your meeting ahead of time, giving plenty of notice

 Arrive punctually and be prepared
 The most senior Korean will enter and be seated first
 As Koreans live and conduct business within a Confucian framework, initial
meetings are often used in an introductory fashion and business may be
instigated later
 Do not show impatience at this stage as these pleasantries are a way of getting
to know you
 Only remove your jacket once the senior Korean does
 Choose delegates who are on par with their Korean counterparts – this shows
respect and knowledge
 Exchange business cards in a respectful manner after the initial introductions
 Ask open ended questions that do not require a yes or no answer as Koreans
dislike refusals

Negotiating

 Allow the senior Korean to instigate business discussions

 Phrase questions in a manner that allows for discussion (Ask ‘When can we
expect delivery?’ And not, ‘Will delivery be within two weeks?’)
 Avoid using an outright ‘No’ in response to questions
 Be aware of others’ Kibun – do not force an issue if you sense reluctance as you
may harm you own dignity and lose their respect
 Always show respect for senior colleagues and management

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  There are often times of silence during meetings, try not to break these as they
are moments of contemplation and show consideration for others
 Avoid a hard sell and forceful negotiations – remember Kibun

Management

 Korean business and personal lives are based upon strict hierarchical structures
 Confucianism supports this structure within the family and workplace
 Older and senior delegates should be deferred to at all times
 'Sonsaengnim' means "respected person" and is frequently used when
addressing someone of a higher position
 In South Korea managers take a paternalistic role with employees and may be
familiar with staff in a personal manner
 This allows for a mutual respect and understanding so don’t be put off if asked
questions of a personal nature

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Environmental Aspect

Natural Resources
South Korea is relatively poor in natural resources. Once heavily forested, it has
been largely stripped of trees, especially near urban areas. However, a program of
reforestation is being carried out. The country's sparse mineral resources include coal,
tungsten, iron ore, molybdenum, limestone, and graphite.

Environmental Advocacies / Preservation Programs

In pursuit of better air quality around its capital, the South Korean government
launched its “1st Seoul Metropolitan Air Quality Control Master Plan (2005-2014)” in
2005. Measures under this law included projects to lessen exhaust gases from vehicles,
administration of emission facilities and controls over energy utilities and cities.
The follow up to this plan was formulated in 2013 and spans from 2015 to 2024.
South Korea’s Minister of Environment also has numerous measures for dealing with air
pollution outside of Seoul.

South Korea heavily adopted nuclear power in a kind of Faustian bargain to

reduce emissions from fossil fuel power plants, but now the country is facing a
significant nuclear waste storage problem. Rather than back down on this nuclear bet,
the government appear to be doubling down. Currently, the South Korean government
is waging a massive public relations campaign in an attempt to convince its citizens of
the need for more nuclear waste storage sites.
One of the most prominent and controversial water-focused environmental projects
is the Four Rivers Project. This project aims to connect four of South Korea most
polluted rivers, clean them up and increase shipping and transportation in the process.
While people living near the rivers supported the project, critics said the project’s
construction of canals and dams would only further harm the rivers’ ecosystems.
Business Travel and Tourism

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 Tourism in South Korea refers to the tourist industry in the Republic of Korea. In
2012, 11.1 million foreign tourists visited South Korea, making it the 20th most visited
country in the world, and the 6th most visited in Asia. Most non-Korean tourists come
from Japan, China, Taiwan and Hong Kong. The recent popularity of Korean popular
culture, often known as the "Korean Wave", in these countries has increased tourist
arrivals. Seoul is the principal tourist destination for visitors; popular tourist destinations
outside of Seoul include Seorak-san national park, the historic city of Gyeongju and
subtropical Jeju Island. Traveling to North Korea is not normally possible without a
special permission, but in recent years organized group tours have allowed groups of
South Korean citizens to visit Mount Kumgang.

The majority of the South Korean tourist industry is supported by domestic

tourism. Thanks to the country's extensive network of trains and buses, most of the
country lies within a day's round trip of any major city. International tourists come
primarily from nearby countries in Asia. Japan, China, Hong Kong and Taiwan together
account for roughly 75% of the total number of international tourists. In addition, the
Korean Wave has brought increasing numbers of tourists from Southeast Asia and
India. The Korea Tourism Organization (KTO) is targeting 100,000 arrivals from India in
2013.

The number of Korean domestic tourists has increased since 2010. The number
of people who participated in domestic travel (which includes one day trips) was about
238.3 million (in 2015). It increased by 4.9% compared to 2014 (227.1 million). In 2014,
Korean's domestic tourism expenditure was ₩14.4 trillion.

Also, Korean oversea tourists are keep increasing since 2010. From 2012 to
2014, the number of people travelling overseas has risen by about 8.2% on average. In
2014, number of Korean oversea tourists was about 16.1 million. And Korean oversea
tourism expenditure was $19,469.9 million.

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Political Aspect

GOVERNMENT

Conventional Long Form:

 Republic of Korea

Conventional Short Form: 

South Korea

Local Long Form: 

Taehan-min'guk

Local Short Form: 

Han'guk

Abbreviation: 

ROK

Etymology: 

Derived from the Chinese name for Goryeo, which was the Korean dynasty
that united the peninsula in the 10th century A.D.; the South Korean name
"Han'guk" means "land of the Han," where "han" may have its origins in the
native root for "great [leader]" (similar to the title "khan")

Government type:

Presidential Republic

Capital:

name: Seoul; note - Sejong, located some 120 km (75 mi) south of Seoul, is being
developed as a new capital

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Geographic coordinates:

37 33 N, 126 59 E

Time difference:

UTC+9 (1 hour ahead of Philippines)

Administrative divisions:

9 provinces (do, singular and plural), 6 metropolitan cities (gwangyeoksi, singular and
plural), 1 special city (teugbyeolsi), and 1 special self-governing city (teukbyeoljachisi)

Provinces: Chungbuk (North Chungcheong), Chungnam (South Chungcheong),

Gangwon, Gyeongbuk (North Gyeongsang), Gyeonggi, Gyeongnam (South
Gyeongsang), Jeju, Jeonbuk (North Jeolla), Jeonnam (South Jeolla)

Metropolitan cities: Busan (Pusan), Daegu (Taegu), Daejeon (Taejon), Gwangju

(Kwangju), Incheon (Inch'on), Ulsan

special city: Seoul

Special self-governing city: Sejong

Executive branch:

Chief of state: Acting President HWANG Kyo-ahn (since 9 December 2016); note -
President PARK Geun-hye (since 25 February 2013) was impeached by the National
Assembly on 9 December 2016 and awaits the final decision of the Constitutional Court

Head of government: Prime Minister HWANG Kyo-ahn (since 18 June 2015); Deputy
Prime Ministers YOO Il-ho (since 13 January 2016), LEE Joon-sik (since 13 January
2016)

Legislative branch:

Description: unicameral National Assembly or Kuk Hoe (300 seats; 246 members
directly elected in single-seat constituencies by simple majority vote and 54 directly

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elected in a single national constituency by proportional representation vote; members
serve 4-year terms)

Elections: last held on 13 April 2016 (next to be held in 2020)

Judicial branch:

Highest court(s): Supreme Court of South Korea (consists of a chief justice and 13
justices); Constitutional Court (consists of a court head and 8 justices)

Subordinate courts: High Courts; District Courts; Branch Courts (organized under the
District Courts); specialized courts for family and administrative issues

International organization participation:

ADB, AfDB (nonregional member), APEC, Arctic Council (observer), ARF, ASEAN
(dialogue partner), Australia Group, BIS, CD, CICA, CP, EAS, EBRD, FAO, FATF, G-
20, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD,
IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC
(NGOs), LAIA (observer), MIGA, MINURSO, MINUSTAH, NEA, NSG, OAS (observer),
OECD, OPCW, OSCE (partner), Pacific Alliance (observer), Paris Club (associate),
PCA, PIF (partner), SAARC (observer), SICA (observer), UN, UNAMID, UNCTAD,
UNESCO, UNHCR, UNIDO, UNIFIL, UNMIL, UNMISS, UNMOGIP, UNOCI, UNWTO,
UPU, WCO, WHO, WIPO, WMO, WTO, ZC

Political/Legal Structure

The speed and scope of South Korea’s political development in recent years have
been as impressive as its economic development in previous decades. Since the
transition to democracy occurred, with the belated arrival of political liberalization and a
return to direct presidential elections in 1987, virtually all realms of Korean society have
democratized.

 In the political realm, under the Kim Dae-jung government, power shifted from
the Kyongsang area in the southeast to Cholla in the southwest. This horizontal

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 power shift is important for ending the political dominance of the Kyongsang
area. Regional competition in the public policy-making process has become more
democratic.
 Both the Roh government and National Assembly have become more
accountable for the public’s welfare and are better monitored by the Korean
people. The power of public authority was often unchecked and misused in the
past. Now Korean voters and civic representatives monitor whether public
officials and assemblymen represent the public’s interest and observe their due
responsibilities.
 In terms of civilian-military relations, the government has become fully civilian, as
the Korean military was completely depoliticized in the early 1990s. The history
of former generals seizing the presidency was denounced and two former
presidents, Chun Doo-hwan and Roh Tae-woo, were convicted of crimes and
sent to prison. As its image has become more progressive, the Korean military is
regaining the public trust.
 Economic liberalization has been no less impressive. With the 1998 Asian
financial crisis, Korea’s big businesses (chaebols) and financial companies
underwent substantial reforms that have led to enhanced transparency in
corporate governance and financial accountability, among other areas.
 The most impressive gains, however, were made in the area of democratization,
with the rise of a civil society. Although still not to the degree seen in advanced
nations, Korean society has become increasingly conscious and supportive of
the rights of women and minorities, including the handicapped and homosexuals.
Traditional Korean values such as respect for authority and hierarchy are rapidly
giving way as increased value is placed on individual freedoms and equality.
These social democratic changes were driven in part by reform-minded
governments and the efforts of domestic NGOs.

Employment/Labor Laws

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Equal Treatment Principle (Article 5 of the Labor Standard Act)

According to the principle of equal treatment, an employer is bound by law to

treat all employees equally. He/she must not discriminate by sex, nationality, religion or
social status.

This article is even applied to illegal workers, those working in Korea without a
work visa or with an expired or terminated work visa. You’ll be penalized if you get
caught, been treating you like garbage. So if you’re going down anyway, why not bring
him/her down with you?

(This rule about treating illegal workers equally does not just apply when your employer
is discriminating against you. You can also claim your severance pay, due wages and
bonus pay through the Korean Standard Labor Act, unrelated to your work status.)

Labor Contracts (beginning at Article 15 of the Labor Standards Act)

Sign a contract before you start working for a new employer. The contract should be
explicit and stipulate clearly in all matters pertaining to the following:

 wages
 contractual working hours
 holidays
 annual paid leave
 Other working conditions prescribed by the Presidential Decree. (This last
matter is a bit vague, so take the opportunity to clarify if you don’t understand
or want something included)

General Information

The contract is null and void if anything in the contract does not adhere to the
codes laid out by the Labor Standards Act. All Korean labor contracts are one year
except in cases where no term is fixed or a specific term is needed to complete the
job. Contracts can be extended prior to completion.

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 Speak up and ask that matters regarding these areas be included if they are not.
If your employer is hesitant to make negotiations regarding your contract, consider
twice about signing. Perhaps you are making unreasonable demands, but perhaps
not. You can always walk away prior to signing, but afterwards it’s not so easy.

Wages (beginning at Article 43 of the Labor Standards Act)

 You should be paid in full in cash (as stated in the article) directly by your
employer.
 You and your employer can negotiate an alternative method of payment.
 Most companies prefer to pay their employees via wire bank transfer.
 Your employer must pay you at least once a month on the same day
stipulated in your contract.
 If your employer is late or if he/she forgets a few hundred thousand KRW
owed, he/she is breaking your contract and the code of conduct set forth by
the Labor Standards Act. That’s a criminal activity. You can claim damages
and can terminate the contract immediately. This applies to any conditions
expressed in the contract that are different from actual conditions.
 Minimum Wage in Korea as of January 2013 is 4,580KRW per hour. It will be
raised to 4,860KRW per hour by August, 2013. That’s 1.02 million KRW per
month based on a 40 hour work week.

Working Hours (beginning at Article 50 of the Labor Standards Act)

Work Week: Despite actual practice in many Korea workplaces, working hours

designated by law are 8 hours per day or 40 hours a week. Anything over that is
overtime.

Break Time: You should be getting a one hour break for every eight hours you work.
Work for 4 hours and you should get a 30 minute rest. Unfortunately the rest period
is not included in the on-duty hours. Most of companies provide a one hour lunch
break forcing the on-duty hours from 9:00-18:00. If you don’t like eating lunch at

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 lunch time, you are free to take your break(s) as you see fit, although some
employers will stipulate lunch time in the contract.

Overtime: Apparently (according to the law) overtime hours cannot exceed 12 hours

per week. You should be compensated for staying late too. Your employer is
supposed to pay 50% of your regular hourly wage in addition to your regular wage.

Night Duty: Night duty is 10pm to 6pm. It follows the same rule of pay as overtime -
you get 50% your wage plus your due wages.

Weekly Breaks: Weekends do exist is Korea. Your employer must give you at least
one full day off per week. If you work on your off day, you’ll be paid your full wages
plus 50% more.

(You can request that you be awarded vacation days in lieu of extra pay when you
work overtime, on night duty or on your weekends.)

National Holidays: There are 11 national holidays. Your employer has to give these
to you or make up for it on another day.

Annual Paid Vacation:

If you’ve shown up for work for over 80% of your fixed working time during one year,
your employer should reward you with fifteen days of paid holidays in the next year.

If it’s your first year at the company you will be allotted fifteen days of paid holidays
or one off day for every 30 days working, considering that you have actually come to
work during that period.

If you manage to last more than three consecutive years at a company, you should
be given an additional day off for every two years at the same company. Vacation
days are capped at 25 days.

You can request your annual paid vacation at anytime but give your employer a two
week heads up. If your request comes at an inconvenient time, your boss can refuse
permission.

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 If by chance you did not take your vacation within a year, your boss should pay you
additionally for your time. Since vacation time is paid you should receive your regular
(or average wages) twice for the unused time. Rather than paying you, your
employer can order you to use the vacation time instead.

Women’s Rights (beginning at Article 65 of the Labor Standards Act)

Menstrual Leave: You can request that your employer give you one day off per
month for the “suffering” your period causes. It is an unpaid “holiday”.

Maternity Leave: You are entitled to 90 days of maternity leave.

The first 60 days is paid, covered by your employer. The last 30 days in optional and
unpaid, but employment insurance (EI) should take care of it. Most foreigners don’t
opt for EI, so you may only be awarded two months of paid vacation. As well, if you
work for a small company, you employer is not required to pay maternity leave. In
this case, EI will cover the costs if you have the insurance. Otherwise you may take
the leave unpaid.

The employer must grant you at least 45 of the 90 days after the childbirth. The rest
can be taken as you wish before or after the delivery.

Working in a Pit: This is a slightly odd article in the Labor Standards Act, but in any
case, women and minors are prohibited from working inside a pit. Female news
reporters and doctors are allowed to do duties in a pit, but other than that, you won’t
find women working in pits.

Night Duty: Women don’t have to work overnight from 22:00-06:00. You can flatly
refuse this demand if your boss tries to make it.

Current Political / Legal Trend

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 A dual transition—to a consolidated democracy and an advanced market
economy—represents the main challenge that the Korean political and economic
system currently confronts. During the two decades since it became a democracy,
South Korea has faced lingering problems, such as poor governance, high-level
corruption, lack of leadership, political conflict, social polarization, volatile public opinion,
and lack of consensus on major issues.

At the same time, profound leadership changes have fundamentally changed the
South Korean political landscape. The new leadership has attempted to dismantle
social, economic, and political structures that were formed during the Cold War and to
establish a more democratic and diplomatically independent society. Such an approach
has resulted in further social and political conflict, trials and errors in policy, civic
distrust, and a lingering leadership crisis.

Although Korean democracy is successfully consolidated, it is far from effective.

There are profound generational cleavages over various national issues, including
economic and social policies, policies toward North Korea and national defense, and
attitudes towards the United States and China. Under these circumstances, political
institutions have been pushed aside, and civic organizations are dominant.

The post-democratic political system has failed to deliver what the government
promised or what the people expected, making political distrust higher and politics more
unstable. Limited to a single five-year term and constrained by social and political
division and lack of consensus on major issues, it is difficult for any Korean president to
achieve fundamental changes in the society. Nevertheless, the Korean public tends to
blame current political leaders for national problems. This is not unique to Korea—we
see a similar phenomenon in Taiwan, Thailand, Indonesia, and the Philippines.

An understanding of the complex nature of Korean politics requires both an

analysis of long-term trends within Korea and comparative studies tht include other
Asian democracies. What have been the general characteristics of the process of
Korean democratization over the past two decades? How is the Korean democracy
similar to or different from other democracies? How can Korea enhance political stability
and good governance? How different is leadership among democratically elected

22 | P a g e
presidents and between them and authoritarian leaders? What are the implications of
Korean politics for the country's economy and foreign relations?

The following topics are suggested for the POSCO Visiting Fellowship:

 Evaluation of Korean democracy since the 1987 democratic transition

 Comparative study of democratic consolidation and maturation in South Korea
and other countries
 Korean presidential leadership and comparison of governance between Korea
and other democracies
 Korean politics in the age of the Internet
 The role of civic organizations in Korean politics

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 IV. DOING BUSINESS

Proposed Business

Pampanga’s Best aims to provide every Filipino across the world the exceptional
experience and pride of indulging in its famous Tocino, Longaniza, Hotdog and other
processed meat products. With its modern way of manufacturing these products, it can
compete with worldwide competitors. We chose to export Pampanga’s Best products in
South Korea because Koreans are known to be meat-lovers and Pampanga’s Best
provides different meat products. Thus, we offer the following to distribute Pampanga’s
Best in South Korea, particularly in Seoul:

 Put up a Pampanga’s Best branch in Seoul’s well-known markets

 Sell Pampanga’s Best products in grocery stores
 Supply Pampanga’s Best products in different restaurants
 Join any Korean food trades

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 Product and Service Offerings
Item Product Description PHP KRW

Original The original sweet- 78.50-88.00/ 1,757.73-

salty pork dish that ½ kg
Tocino 1,970.44/
has been a staple
½ kg
Filipino breakfast item
for many years.
44.75-47.00/
¼ kg 1,002.02-
1,052.40/
¼ kg
Chicken Delicious chicken 72.50 1,623.28-
marinated in sweet- -85.00/Kg
Tocino 1,903.15 /Kg
salty tocino flavoring,
with hints of barbecue
taste. This is the low-
fat, healthier version
of the classic favorite
for those who want a
new twist to their
chicken dish.
Boneless or bone-in.
Belite Tocino The sugar-free Belite 86.50 - 1,936.74-
Tocino has the same 98.00/ Kg 2,194.22 /Kg
taste of our favorite
tocino, yet, with zero
sugar content.
Bestdog This reddish hotdog is 86.50/ ½ kg 1,936.74 /1/2
perfect for feeding
Hotdog kg
hungry kids, friends,
and office mates.
Plump and firm to the
touch, this delicious
hotdog lets out

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 delectable juice with
every bite.
Chicken Made from chicken 76.00/ ½ kg 1,701.64/ ½
white meat, this low- kg
Franks
fat hotdog still retains
the sumptuous taste
of the American
hotdog that we all
know and love.
Pork Tapa This is the pork 85.00 – 1,903.15-
version of the tapa, 95.00/ half 2,127.05/
and has a taste that is
kilo half kilo
slightly reminiscent of
the tocino, albeit
without the red color.
Beef Tapa This is the beef 180.00/ 4030/ 480g
version of the tapa, 480g
and has a taste that is
slightly reminiscent of
the tocino, albeit
without the red color.
Skinless With this untraditional 12pcs 12pcs.
sausage, each
bite 69.00-81.00
Longaniza 1,544.91-
starts sweet and then
1813.59
ends with a spicy kick
6pcs
39.75-45.00 6pcs
890-1,007.55
Hamonado This is a sweet 12pcs. 12pcs.
sausage with just the 69.00
Longaniza 1,544.91
right hint of Chinese
ham or Jamon
Serrano with every
6pcs. 6pcs.
bite. People have 44.50-52.00 996.36-
described this product 1,164.28

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 as tasting like wine,
and they are right. It
does have that tangy,
springy taste to it,
much like sipping fine
wine.
Native This is a short 12pcs. 12pcs.
sausage with 70.50-85.00 1,578.50-
Longaniza
caramelized sugar for
1,903.15
that slight sweetish
taste, with a dash of
6pcs.
sour vinegar, garlic 44.50-52.00 6pcs.
and spice at the end. 996.36-
1,164.28
Sweet Ham A product that’s 50.00-58.00/ 1,119.5-
designed to be the ¼ kg 1,298.62 / ¼
main fare of gourmet
kg
sandwiches.

Meat Loaf American favorite. 39.00-45.00/ 873.21/ ¼ kg

The main difference ¼ kg
between our product
and those of the
competition, of
course, is that you get
to taste more of the
meat and the
seasoning, and almost
none of the extenders.
Meaty Burger Now, get mouth- 95.25/ 450g 2,132.65/
wateringly delicious 450g
all-beef goodness
from Pampanga’s
Best Hamburger
Patties.

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 Piña Ham The Oriental taste 230.00/ 5,149.7/
comes alive in this 900g 900g
delectable ham;
glazed with sugar and
all natural pineapple
juice.
Leg Ham This is a combination 562.00/ 1kg 12,583.18/
of the old Chinese leg 1kg
ham and the
tenderized American
ham.
El Embotido This is the Filipino 44.75-55.00/ 1,001.95-
version of the meat ¼ kg 1,231.45/ ¼
loaf, unlike the
kg
American meat loaf,
however, our
embutido is a meat
roll usually made of
ground pork blended
with spices,
Pampanga’s Best’s
unique seasoning,
carrots, sausages,
and whole boiled
eggs.
Bacon Made from cured and 50.00-58.00/ 1,119.5-
salted pork ¼ kg 1,298.62 / ¼
kg

Bacon Honey Honey-luscious.. 60.00-70.00/ 1343.4-

Bacon-savory..Honey
Cured ¼ kg 1,567.3 / ¼
and Bacon
kg

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 Hungarian Gastronomic fusion of 165.25/ ½ 3,700/ ½ kg
smoky and peppery kg
Sausage
taste with a kick of
spice

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Competitive Advantage of the Company

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Opportunities for International Trade

 New market – for those who are unfamiliar with this product. It can open the
first of its kind in South Korea.
 Business growth and greater exposure – overseas expansion increases the
exposure of the business. It can attain greater respect from customers and
potential business partners as they may now view you as a bigger player in
your industry.
 Less competition – new product means fewer competitors.

Potential Threats

 Overcoming cultural barriers – companies need to be aware of social and

cultural dynamics and the endeavor to build authentic personality.
 Unstable profits – starting up a new business is always a risk. There is no
assurance in obtaining profit more especially in an overseas business.
 Financial Risk – putting up a business abroad requires a huge amount of
capital and accompanied with this is the risk of not earning a profit and worst
having a loss.
 Language barrier – lack in English language skills may still be considered one
of the biggest barriers in doing business in Non- English speaking countries.

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Strategic Adjustment/Improvements

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