Koreans have worked hard to transform their traditionally agrarian society
into one that can compete globally in the 21st century. Modern-day Korea has reconstructed itself
remarkably well after colonization and the Korean War. Now it is serving as an economic model
for other developing countries. Electronic high technology, manufacturing and service industries
are the core of the Korean economy. Overseas investment in Korea has been steadily increasing
since the 1980s although this has been affected by the downturn in the Asian market at the end
of 1997. |
Did you know?
It is good manners to pass and receive objects with both hands. If you want to take someone's
business card, put out your right hand to accept the card and place your left hand under
the wrist. You should pass an object to someone in the same manner. | |
Large companies have more economic power than small or medium-sized
companies, but the Korean Ministry of Finance is trying to help small and medium-sized
companies succeed as well. Training of skilled workers is encouraged.
In the Korean workplace, Confucian codes are apparent and an obvious
hierarchy exists. Junior employees pay great respect to senior employees. Women hold
traditionally female jobs like teaching and clerical work and make up approximately 40% of
the workforce. |
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In Korea, government offices open Monday to Friday at 9:00 a.m. and close
at 6:00 p.m. In winter, offices close at 5:00 p.m. The business week includes Saturday when offices
are open from 9:00 a.m. to 1:00 p.m.
Did you know?
The husband is expected to hand over all or most of his salary to his wife, who manages the family
finances. | |
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