Business culture - Research Paper Example

USA and South Korea have maintained a very strong and supportive relation among each other since 1960. The multicultural relation among these two countries has started since the Korean War during the early fifties. During the Korean War US played a very vital role towards South Korea to give them the financial and political support towards the establishment of new developed nation. Since then South Korea has grown fast and it has reduced its dependency upon the United States of America. United States is one of the largest oversees trading partners of South Korea, In 1998 due to the dictatorship of the ruling party United Democratic Front and Combined Force Command (CFC), the relation among US and South Korea has faced some frictions which made South Korea to divert their way from US.

However, in 2007 June South Korea and United States of America have signed a free trade agreement (FTA) which helped them to sustain the positive trade relation among the two countries. Business relation has become very strong among these two countries but if the focus is given thoroughly towards the nature of doing business and the socio-cultural differences between these two countries then, it can be seen that, the way of doing business in each of these countries are totally different. It is very important to understand the socio-economic structure of any country to do business or to set up a new industry.

South Korea’s business culture is very much different than the US. South Korea is the fourth largest developed economy among the Asian countries, but it would be a big mistake to presume what worked for Japan, China or any other Asian Countries are same for South Korea. In other hand United Sates of American (USA) is a mixture of many races, cultures and religions, it is the best known cosmopolitan country in the world. The free mind and mixed cultural balance have made USA the powerful business