Business in Japan
My first impression of the culture was that they place importance on hierarchy, and speaking with business professionals proved that this was true. Even though things are slowly changing, age and position changes the way you are treated. The older or higher up you are, the more respect you are treated with. Some interesting things that I learned about that I did not expect were the fear of failure mindset and time expansion horizon. Things take a lot longer to be approved or go through in Japan. They are very strict with forms and usually send a document back if a part is a tiny bit questionable. The people’s fear of failure/risk aversion is very extreme. They take precedence very seriously which can hinder growth at times. For example, one of the professors in Japan that we spoke to had an idea for Japanese students to do an exchange in the US. He brought this idea up to the President of the University with a detailed rule book that he created. The president was nodding along, but at the very end said something along the lines of, “This sounds very good but we can’t do it because it’s never been done before.” When I heard this story, I was shocked! It feels as if things will always stay stagnant since they aren’t willing to try something new. This was the most interesting to hear about, and it will definitely take time to break out of this mindset.
Business in Korea
After spending time in Japan, our study abroad group went to South Korea. I learned that they are different than Japan and place importance on innovation. We did a business visit at Pangyo Techno Valley Startup Campus, a campus built for startup businesses to launch and grow, and it was amazing. The government helps startups launch by providing funds, litigation teams, and financial teams. There are judges that determine which startups are most likely to succeed and that startup receives funding and help. The startup campus is growing as we speak with a third area being built. The support given to startups was inspiring, and it’s amazing how much Korea is willing to do for them.
The same day we went to the startup campus, we also went to Korea’s largest marketing company, Cheil. It was a great experience, and we were able to learn about the standards and efforts of Cheil. I would say Cheil is where technology meets innovation. The people are very dedicated to what they do, and that was seen through the presentations that we saw.
Final Thoughts
This trip was very worthwhile! The business visits, activities, and cultural experiences we had were so fun and amazing. I really enjoyed going to Japan and South Korea! The friendships I made with my group and exploring the cities are so memorable. If you ever have the chance to go on a study abroad, take it!