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Home / General Information / Korea Business Success eZine / Korea Business Success eZine – November 2010

Korea Business Success eZine – November 2010

Our Korea Business Success eZine used to be the premier resource for practical advice about Korean business. However, the eZine has been replaced by the even more valuable resources at Korea Business Central and our KBC Professional Certification Program. Sign up today!
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Welcome to the November 2010 issue of the Korea Business Success eZine of Korean Consulting & Translation Service, Inc. We hope you find this information helpful to your business in Korea and with Koreans everywhere.

Table of Contents

Breaking News: 2010 Global Business Networking Event

Korea Business Central co-hosted with Seoul Global Business Support Center a Global Networking Event – “An Evening of New Traditions”. The event attracted over 200 guests, who all immensely enjoyed the evening. Don’t believe us? Check out our photo album of the night, and make sure to reserve a spot in the next Global Networking Event.

During the event, we filmed one of our KBC exclusive productions, the 9.9 with Daniel, and this month the short panel discussion addressed “What’s the best way to network in Korea and why?” You can hear the bustle of networking in the background, while the panelists each offer a different perspective to the secrets of Korean networking.

In an effort to make the most important information easier to find, a new Topic Central page was added about “Starting and Running a Business in Korea”. There was a wide range of discussion topics that were addressed, including (but not limited to):

  1. Setting Up My Own Company
  2. Top Three Challenges
  3. Best Korean Bank
  4. Minimum Capital requirement for FDI
  5. Ethical and Profitable Decisions
  6. Investment/Trade Promotion in Korea
  7. International Calls

A new exclusive section was added to the KBC community: Business Korean Review. It is a great way for students of the Korean language to get a more specialized lesson on business vocabulary and concepts. So far, two lessons have been posted up. The first was titled “Voices of Self-Reflection in the US” and the second “한국경제, 위험요인 아직 상존

If you aren’t sure how to translate that, don’t worry! Join the Korean Language Learners group and become an expert at business level Korean. Add you voice to the conversation and join KBC today.

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In the News

Korean Carmakers Face EU Emissions Challenge

Chosun Ilbo reports that Korea's automakers are working hard to live up to EU emission standards set to be put into place next year. Although most Korean gas car models meet the tough Euro 5 standards, very few Korean diesel car models live up to the strict emission restraints. In Europe, diesel cars account for as much as 50% of the market, and in order to take advantage of the Korea-EU FTA being implemented in July of next year, Korean automakers are focusing on reducing the emissions of their diesel models for export to the EU.

Korean Air Ready to Introduce Bigger and Better Planes: The A380

The Korean Herald notes that Korean Air, in cooperation with Airbus, is around 70% finished on its first ever A380 airplane. They are currently having its cabin pressure and fuel systems tested in France. Korean Air has a second A380 at around 50% finished, and they hope to have both in the air and taking passengers from June and July next year. There are plans to purchase a total of eight A380 airplanes, which have 40% more seating, halves noise pollution, and are a lot more spacious for each passenger. Currently, there are only 37 A380s in operation.

Incheon Airpot On Pace to Hit Number One Sales in Korea

The commercial complex at Incheon Airport is in the lead for retail sales so far this year, threatening to dislodge Lotte Department Store from its 30 year supremacy, according to an article by Chosun Ilbo. The numbers through September show Incheon Airport with a W90 billion lead, which is relatively small considering Lotte is expecting to still hit W1.5 trillion is sales this year. The Airport claims the improved sales numbers are mostly due to improving immigration processing time, with average waiting times for both departures and arrivals at 16 and 13 minutes respectively. Compared with other international airports, Incheon Airport ranks third in the world, behind Dubai and Heathrow (London).

Korea-US FTA To Be Discussed…

Yonhap News reports that the Trade Minister from Seoul and the Trade Representative from Washington will meet to discuss outstanding issues in the Korean-US Free Trade Agreement that was signed in 2007. The two biggest complaints from Washington are in relation to provisions in the agreement concerning Korean “non-tariff barriers” for U.S. auto imports, as well as Korea’s restriction on US beef imports. The Trade Minister, Kim Jong-hoon, pointed out that it would be difficult for Washington to make a clear decision so close to a midterm election. Seoul has also stated that the beef issue is separate from the FTA, and that so far Washington has offered no solutions to their complaints about auto industry import barriers.

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Eye-Catching Headlines

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North Korea Spotlight

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Korea Economic Slice

Don’t forget to download the latest editions of the Korea Economic Slice. Since the previous eZine, there have been three Korea Economic Slice reports published.

The Korea Economic Slice on KBC is produced by Korea Business Central(KBC) and independent analyst Robert Eberenz (DS Market Research, President).

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SERIWorld Report

The Samsung Economic Research Institute (SERI) sends out a weekly report on economic trends in Korea. These reports contain in-depth research and analysis, and are a necessity for anyone keeping tabs on the Korean business world. We have picked out our favorite articles and have linked them for you hear. We would also strongly recommend subscribing to the email list as well.

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Most Recent Discussions on KBC

In closing, don’t forget to check out the KBC events page for the most recent upcoming business events in Korea.

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Steven's Weblog Nojeok Hill: My View from the Top - Korean Business Drivers

Steven's Weblog Nojeok Hill: My View from the Top - Press Releases

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