Exploring Thick Description in Business System Analysis: The Korean Business System from a European Corporate Perception

• In recent years, Korea has achieved considerable economic growth accompanied by potential business opportunities for international companies. The European Union is currently negotiating a free trade agreement aiming at increased trade and business relations. Hence, the Korean business system and its foundations in societal characteristics need to be taken into account by European political and economic actors. The purpose of this study is to identify those characteristics and to explore their linkages as perceived by European companies. This inductive research is based on the socio-economic approach of business systems theories. For this, ten qualitative interviews have been conducted with European companies doing business in Korea across different industries. Empirical findings resulted in a comprehensive image of the Korean business system enriched by a European corporate assessment. It can be concluded that for a successful existence in the Korean market European companies have to consider governmental dominance in business structures, the importance of business network relations as well as implications of strong cultural characteristics.

Subject headings

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Business Administration (hsv//eng)

Keyword

Business Environment

Business System

Korean Business Structures

Doing Business in Korea

Publication and Content Type

ref (subject category)

kon (subject category)