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PatrickSiheung

Joined: 21 May 2003
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Posted: Fri May 28, 2004 4:57 pm Post subject: Has anyone ever started a business here in Korea? |
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Hey I'd like to hear from some people that have experience doing business here in Korea.
Share some of your stories, suggestions etc... I'm interested in knowing how companies here like to do business with foreigners. I am imagining long nights drinking at the soju house and then stubbling to some strip bar.
Other than that... how do Korean businessmen like for you to talk to them? Do they appreciate developing relationships and then talking business? Or do they like to get right to the point and keep all interactions strictly professional?
I'm also interested in contacting a Korean person with experience in writing business letters if anyone knows of someone or perhaps a company that can do this in Seoul.
Thanks |
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Juggertha

Joined: 27 May 2003 Location: Anyang, Korea
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Posted: Fri May 28, 2004 8:59 pm Post subject: |
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carefull man, what I found was that starting a business on an E2 puts your visa in jeapardy |
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PatrickSiheung

Joined: 21 May 2003
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Posted: Fri May 28, 2004 10:02 pm Post subject: |
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No problem there I don't have an E2 lol. I'm here on my F2-1, I already have my business registered with Korea.
Anyway, this isn't a job advertisement! (that's to the mods) What I'd really like to hear is any accounts of doing business here in Korea. If anyone has any stories or thoughts I'd like to hear em. |
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Wangja

Joined: 17 May 2004 Location: Seoul, Yongsan
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Posted: Sat May 29, 2004 1:08 am Post subject: |
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Yep, I've started one and have a D8 visa. Tough in my field (large engineering projects) to break in to Korean companies but have been kept busy with companies from other countries. |
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PatrickSiheung

Joined: 21 May 2003
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Posted: Sat May 29, 2004 1:30 am Post subject: |
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Wangja... have you began you develop a team here in Korea? Lawyer, accountant or the like? I'm open to some referals ) |
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rapier
Joined: 16 Feb 2003
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Posted: Sat May 29, 2004 3:00 am Post subject: |
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Wangja: well, done- nice to see some entrepreneurship" -I think you'll find that foreign companies may prefer dealing with you because of fluency of communication, etc... great: sounds like you could teach us all a thing or two. |
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Universalis

Joined: 17 Nov 2003 Location: Seoul
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Posted: Thu Jun 10, 2004 7:30 am Post subject: |
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I own a board game cafe here and would advise any foreigner who is considering opening any sort of small business that involves daily interaction with Korean customers to stay far, far away.
I know my Korean isn't the greatest, but I don't appreciate being laughed at, mocked, and ridiculed on a daily basis for making an effort to speak the local language. And you'll get the same treatment should you make an effort to play a role in Korean society beyond "english teacher."
Brian |
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shawner88

Joined: 01 Feb 2003
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Posted: Thu Jun 10, 2004 9:18 am Post subject: |
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Universalis wrote: |
I know my Korean isn't the greatest, but I don't appreciate being laughed at, mocked, and ridiculed on a daily basis for making an effort to speak the local language. And you'll get the same treatment should you make an effort to play a role in Korean society beyond "english teacher."
Brian |
Haha...I gave up trying to speak Korean to my students. That's the exact way they respond. Now come on, though. Imagine yourself back in time back home with your friends and some Korean guy is trying to speak English and has a really weird accent...you telling me your gang wouldn't laugh? That's just the way it is.
Can you afford a manager? |
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Wangja

Joined: 17 May 2004 Location: Seoul, Yongsan
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Posted: Fri Jun 11, 2004 10:17 pm Post subject: |
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Sorry not to have looked in on this thread for a while: PatrickSiheung, thanks a lot, I already have the accountant as this is a requirement for setting up the business after the foreign investment. Haven't needed a lawyer for the firm yet but do have connections at the major law firms here having worked with them on contractual issues over the years.
Rapier, thanks too: sometimes I have no time to spare, others, like just now, I am "between contracts" but will take Kongju to Europe for a few weeks and meet a few of my old contacts and hope that that will generate a new project to work on. |
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PatrickSiheung

Joined: 21 May 2003
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Posted: Tue Jun 15, 2004 12:08 am Post subject: |
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Universalis:
I hear ya. I'm learning that Korea is not business friendly at all. At least not for foreigners. Fortunately I have my wife and her sister to front any operations.
Wangja:
What's your experience in dealing with Korean accountants? Is the one you deal with pretty clever? I need someone willing to school me on tax laws in this country too. You know... what sort of business deductions I can make etc...
My experience so far has been that Korean men do not like to be questioned. They expect me to just let them do what they do. Pfft, I don't play that way though. I like to know what's happening with my money. |
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Mankind

Joined: 18 Jan 2003
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Posted: Tue Jun 15, 2004 12:29 am Post subject: |
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Quote: |
I own a board game cafe here |
Its's a great place too.
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