Relationships are important in Korea, and business deals are based upon friendship, trust and dialogue. It needs constant attention and commitment. Koreans are careful in choosing business partners, and want to become friends first. From the U.S. perspective, issues remain with South Korea's shortcomings in intellectual property rights. But Korea is showing some progress in enforcing its intellectual property rights laws, the local Trade Center's guidebook says.
Cost can be a challenge for a small business.
Companies can usually get results, Wright estimates, after six to nine months of investigation and research. As a market, South Korea has worked out well for Roseville-based Pasco Scientific, which designs and sells programs that teach computerized science courses. Until the late '90s economic crisis, Korea was Pasco Scientific's single largest export market. It's still in the top five and should be No. 1 again within a couple years, says Mick Carr, Pasco's vice president of sales. Kimmie Candy is named after Parreira's Korean friend, business partner and agent who came up with the idea for the company.