Korean Job Discussion Forums

[Vicissitude]

I've lost track of the number of Koreans who've asked me for advice on starting a business or to go into business with them (without suggesting that I invest my money). Some of them have suggested starting language schools in the Philippines. How common is this? Do Koreans often ask you for business advice or to help them start a business? Would you consider it?

[Fredbob]

It is actually pretty common, happened to me a few times, I actually took someone up on it once and almost ended up deported for my efforts. BEWARE, the concept of equal partnership is pretty foreign here (Confucianism=Hierarchy) and 2 things to note, 1)without your own money (to the tune of around 50K USD) its almost impossible to do this legally, so your "partner" can get rid of you any time by ratting you out to immi and only taking a minimal fine for their trouble. 2)don't discount the thousands of posts here regarding the underlying racism/xenophobia of many Koreans, couple that without an almost complete lack of understanding of the concept of a win-win scenario, and you've got a recipe with a high probability for disaster.

Based upon people I've spoken with, you'd be better off in position "A", you start the business and hire Koreans to help you, then everyone knows where they stand. If they use you to start a business, that's exactly what they are doing, using you to fill a foreigner slot, if the business is successful, its much too easy to cut you out.

After reading this I've thought of a few things that have nothing to do with dealing with Koreans, 1)starting a business requires contracts, contracts in a language you don't understand are generally not a good idea. 2)business is business, if you put up the capital, ie take all the risks, you expect the overwhelming majority of the profits. 3) you have to consider culture, what is Korea business culture known for (I don't mean just on this forum), it's not flexibility, transparency or cooperation, take a look at what the biggest companies in this country say about what they will need to do to survive, and what outside investors say about investing here.

This is based upon experience, if you really know what you're doing, businesswise, Korea can be a great place to start a business, but if some random Korean just happens to meet you, and after a while, wants you to jump on board, it is a cultural oddity if it is honest, and a very likely indication that they have not thought the plan through, or they would have gone through professional channels to obtain an English speaking partner with training and experience in whatever industry they are choosing to do business in.

[Juregen]

Fredbob is on the money.

Business in Korea is mostly lopsided, they don't seem to understand the fairness principle the way westerners understand it.

If they ask you to start a business with them, they consider to be your boss and will tell you what to do and take decisions without your consent.

[Young FRANKenstein]

[reactionary]

Watch the Sopranos episode with Steve Buscemi when he decides to open up a (legitimate) massage parlor with a Korean.

[Young FRANKenstein]

[Jellypah]

[itaewonguy]

[Vicissitude]

[highlander_76]

turn and run

for all the reasons already stated

no matter how good it sounds, how little you have to do, and how big the pay off will be for you (it won't)