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Korean corporate culture and its effects on the success of Korean companies

  • The corporate culture of South Korea influences the profitability of Korean companies to a great extent. Traditional Korean values are based on Confucianism which emphasizes collectivism and hard work. This created a foundation on which successful companies emerged. However due to economic reasons Korean values are forced to change as it is questionable if Korean companies can remain profitable with the traditional culture within their systems. With the exposure to western culture Korean managers are trying to adopt beneficial methods that western companies have proven to be favorable. As a consequence Korea’s corporate culture is gradually changing while still retaining some of its unique features. As western companies seek to collaborate with or acquire Korean companies, culture clashes are inevitable. Despite the large differences between cultures it can be observed however, that with thoughtful management high synergies can be achieved in such collaborations and that Korean companies are becoming more and more competitive in the global market.

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Author:Katrin Lichosik
Advisor:Armin Trost
Document Type:Bachelor Thesis
Year of Completion:2017
Granting Institution:Hochschule Furtwangen
Date of final exam:2017/02/23
Release Date:2017/03/22
Tag:Corporate Culture; Korea
Page Number:27
Degree Program:IBM - International Business Management
Functional area:Human Resource Management
Licence (German):License LogoUrheberrechtlich geschützt