Commentary Archives - Page 11 of 12 - Smart City, Songdo International City and the Incheon Free Economic Zone (IFEZ).

Archive for Commentary

Everything Korea: August 10 Episode Workplaces: Korea and US (and UK)

August 11, 2015 Stacey Commentary, Education, general, News Comments Off

Deconstructing key aspects of western workplace in contrast to norms in South Korea continues to draw my attention. This week I add U.K. workplace insights since it, too, has a strong entrepreneurial and creative class–taking risks and learning from mistakes as seen there as part of the process going hand and hand.

In some ways I am personally draw to the British and specifically a Wales’ spin on business. This was well captured in a David Hieatt, Co-founder of The Do Lectures & Hiut Denim, 2011 workshop titled “Love Luck and Ideas got a town making jeans again.” So take some time listen, it’s well worth the time. More so, for my Korean friends in Korea and those Koreans working in overseas operations the video shares values that are actually tied to business like Love, Luck and Sentiment.

http://www.thedolectures.com/david-hieatt-how-love-luck-and-ideas-got-a-town-making-jeans-again/#.VbfcY3hjdp_

BTW I love David’s quote that jeans are “the creative uniform for the creative man”. Captures something I was missing, but so true,

This said, we all recognizing there is a gap in norms, values, and attitudes between the West (and in this case Wales in the U.K.) and South Korea, so what are construction steps can be taken to bridge the gap and lead to solutions.

Frankly that where my expertise comes in. I provide a strategy, coaching, and training to overcome cultural impasses that if not addressed do lead to frustration, stalled momentum and high turnover of the best staff and leadership.

Why not schedule a chat? http://www.meetme.so/southerton

Or, Direct Questions to questions@koreabcw.com

Links of Interest

Case Study https://www.scribd.com/doc/271936685/Creative-Workplace-Culture-U-S-and-Korea

Hiut Denim http://hiutdenim.co.uk

Everything Korea August 3 Episode: K-lobalization, A New Concept?

August 6, 2015 Stacey Commentary, News, vodcast Comments Off

In the recent case study, I mentioned K-lobalization. To many, this was a new concept. In reality K-lobalization was something I coined in 2008. I’d add to a video’s content, which I recorded in March 2008 on the topic (but still very relevant).

In particular we find Korean companies in 2015 are better defining their strategy globally. This means they are instituting a bolder standardized approach to marketing, branding and operations. In the past they have taken a more fragmented approach, with lots of variations from region to region.

Please take a few minutes and review the video from 2008…

https://youtu.be/s53gLZ3TPtU

Oh, one more thing. As an additional resource, here’s an excerpt from

Korea Facing, Secrets for Success in Korean Global Business

By Donald G. Southerton, 2013

Chapter 1 K-lobalization (Globalization with a K for Korea)

When I began supporting overseas non-Korean management teams for Korean companies, I often heard staff looking for a time when Koreans would fully embrace local western business norms, step aside in key decisions, and let the westerners “run things.” Why?

The overseas branches of Korean companies commonly have a CEO who is a Korean expat managing the company or region with local support. The CFO and technical support can be expats, too. Most often these Korean expats form the core for business operations in the host country. By the way, the expats below senior management are often called “coordinators” in the West. However, the Korean term is ju jae won.

In the larger overseas subsidiaries, Korean expats are assigned to the major departments, including sales, marketing, HR, and product development, along with engineering, and design divisions. In many, if not most, cases these expats are not assigned manager roles but operate as a “shadow management” with considerable oversight of local operations. For westerners unfamiliar with the Korean model, this “oversight” usually translates into the Korean expats requiring sign off on all decisions—trivial to substantial. This can be a huge challenge when newly assigned expats have little specific background in or knowledge of the host country’s operations and market. Cognitively, they recognize localization is needed but, especially if under pressure to perform, may defer to their Korean company procedures and cultural norms. In other cases, Korean firms have also initially resisted local management guidance and followed what they felt would be the best approach. Sadly, they performed poorly and eventually yielded to the local teams.

Times do change. Recently, and unlike a decade or so ago, many Korean teams and management have become increasingly global savvy. More significantly, following the global recession of 2009-10 when many international firms experienced setbacks, Samsung, Hyundai Motor Group and LG soared and as a result some Koreans see their model as superior to rival western brands.

I call this K-lobalization—when Korean firms boldly promote their own unique management style and corporate culture internationally and across many markets.

Book Available on Amazon at:

http://www.amazon.com/dp/1481224336

I look forward to your questions and comments

questions@koreabcw.com

Everything Korea: Episode July 27 Insightful Feedback and Resources

July 30, 2015 Stacey Commentary, general, News, vodcast Comments Off

I’ve just begun compiling feedback from the new case study. Contributions from readers, like you, show highly engagement in the study as well as many dealing with some common issues.

One that surfaced was although they have achieved much success Korean brands in their overseas operation need to adopt MORE to local norms including accepting failure and missteps. If not, and as a consequence growth will stall and be unsustainable–something of recent concern that we see occurring globally amid strong competition by rivals and changing markets.

To paraphrase one well thought out response that nailed it dead center with this profound statement. With regard to their local Korean business operations “[a] company needs to foster innovation rather than just be a fast follower.

Adding, “The challenge is with ‘Acceptance of mistakes’, which as you noted [ in the case study] is one of the foundations for American’s success. Culturally, failure [for Koreans] is not an option. Until they realize that it can serve as a foundation for success, they won’t be able to go much further.”

Again, in the next few episodes look for a more well thought out feedback, which I share on the case study.

Meanwhile, changing the topic slightly, but sharing as solutions…I’ve offered considerable content over the past several years in video format—first are a series of 5 concise videos, and second a more recent 2015 presentation—all captured in high resolution and quality audio. I strongly encourage you to view.

For the 1^st five videos they run 2-3 minutes, and the last video about 26 minutes.

Opportunities and Challenges

https://www.youtube.com/watch?v=s6uWpHkj2zc&list=PLYTdCvotGB1QKPCB5zVzabQD6NG9I2VkZ&index=1

Common Misconceptions

https://www.youtube.com/watch?v=UnAMaDxXwm4&list=PLYTdCvotGB1QKPCB5zVzabQD6NG9I2VkZ&index=2

Lesson in Localization

https://www.youtube.com/watch?v=5iDgfWYnA_4&index=3&list=PLYTdCvotGB1QKPCB5zVzabQD6NG9I2VkZ&spfreload=10

Competitive Advantage

https://www.youtube.com/watch?v=k3bdbCKdF0E&list=PLYTdCvotGB1QKPCB5zVzabQD6NG9I2VkZ&index=4

A Shift in Korean Management Styles

https://www.youtube.com/watch?v=OHilmaWZVUw&index=5&list=PLYTdCvotGB1QKPCB5zVzabQD6NG9I2VkZ

Korea Perspective

http://www.koreasociety.org/corporate/korea_perspective.html

As always I’m happy to answer questions, please direct them to questions@koreabcw.com

Until next time…

Everything Korea, July 20 Episode: a Case Study Sneak Peek

July 23, 2015 Stacey Commentary, general, vodcast Comments Off

This week we have something special, a preview of a new case study.

Over the past month I have been sharing the role of the creative class in the workplace–Korea and America. To clarify I looked at the “culture” needed to foster the Creative Mind in the workplace, and in particular recognize their values, norms, and attitudes. The new case study is the result of this study and research.

This said, I have attached a link to this new Case Study. Please take a moment to download and read. I would appreciate any feedback and comments before we offer it to a wider Korea facing distribution.

And by the way…

If you and your company would like to discuss challenges, I would be happy to chat. I’ve found each company has its own dynamics and I approach this case-by-case crafting an approach tailored to the client.

So until next time…

Schedule a chat? http://www.meetme.so/southerton

or if you have a Direct Question? Go to questions@koreabcw.com

Download Link for the Case Study

http://unbouncepages.com/case-study-fb/

Everything Korea, July 13 Episode: a Roadmap for Creative Class Korea and US

July 23, 2015 Stacey Commentary, Education, general Comments Off

In the two previous posts we looked at the dynamics required to nurture a creative and innovative workplace. In particular, Korean work values, norms and attitude surfaced as polar opposites to the characteristics of the western creative class workplace. In turn some core change would be required if Korea aspired to develop a strong sustainable innovation-driven economy. In fact, the current South Korean president, Madame Park, Geun-hye recognized this and upon election boldly had proclaimed a “Creative Economy” as her platform for Korea’s economic growth over her 5 year term in office.

Frankly most in Korea’s private and public sector have found this high level government mandate hard to embrace—in part because the overall concept was difficult to grasp within their current society. And, as I have pointed out what drives a creative economy is creatives as well as the unique communities that align with values and sustain their lifestyles. For example over-hearing a tech startup chat in edgy Golden, Colorado coffee shop Pangaea, I quizzed the three young entrepreneurs on “why Golden?” They response was 1) lifestyle, and more specifically rock climbing 2) access to established startup and incubator hubs like Boulder and Denver, and 3) available local funding for startup, the community quite wealthy.

To give another snapshot, Biz Stone former Twitter co-founder shared in a recent weekly update on his current venture Super.me, his partner Ben Finkel’s view on their work culture

* The world is our oyster. We get to build awesome software, dream up future products, use the best technologies, and get well paid for doing it. There’s no handbook, but the challenge is part of the thrill.

* We have tons of flexibility in our work style, no micromanaging and minimal bureaucracy. Of course, we can still improve our work processes, but this is another problem we get to collaboratively improve together.

* Working with a small, creative group thinking up and building future products—that has always been my dream. Of course, the products won’t work as planned, we’ll have to adapt, redirect, and persist.

In a future Everything Korea episode, I’ll suggest some steps Korean companies need to take if they look to build a creative workforce in their domestic Korean divisions, but before I tackle that set of challenges, I would like to address the need for Korean overseas operations to be sensitive to the needs, values, and attitudes of the creatives with their local organizations. Studies show that up to 1/3 of the American workforce are now part of the creative class. The best companies recognize this trend. Sadly, firms that ignore this reality, suffer.

My big concern is that Korean companies with global operations may fail to recognize this reality, too. This reality was well captured by Authors Josh Hammond and James Morrison in their book The Stuff Americans Are Made Of.

The authors cite seven cultural forces that define Americans:

Insistence on choice
Pursuit of impossible dreams
Obsession with big and more
Impatience with time
Acceptance of mistakes
Urge to improve
Fixation with what’s new

I feel Korean companies need to recognize and adopt a creative culture in local markets to sustainable recruit and retain this talent — a difficult challenge even for many American companies strongly rooted in older workplace norms. Again quoting Richard Florida, “ Many companies are merely presenting a cheap, façade of the alternative [creative culture]—a Ping-Pong table, perhaps an espresso machine.”

So for starters, Korean companies that need to draw upon local creative class talent will find that locating in right community can be half the battle. This means a locale that embraces diversity and openness, with some edgy counter-culture thrown in. Interestingly, we know there is considerable synergy between the creative class workforce in these communities like San Francisco, Austin, TX and Boulder, Colorado—a huge side benefit to any firm looking to nurture their workforce.

Perhaps the greatest hurtle is ensuring that Korea workplace norms and company practices do not over-power and overtake local norms—resulting in a stifling of the very creativity the Korean company so desires… In the worst cases, top creatives will exit and those that stay make no attempt to tap their creativity.

Again this is not an easy task, and frankly one I spend considerable time as a consultant providing leadership and teams—Korean and Western– with strategy work arounds and solutions. And, I do have solutions.

More to come on this topic, in the meantime if you and your company would like to discuss, I would be happy to chat. I’ve found each company has it’s own dynamics and I approach case-by-case crafting an approach tailored to the client.

So until next time…

Oh, one more thing…. I am back in SoCal and OC two days this week. Some time still open.

Schedule a chat? http://www.meetme.so/southerton

Direct Questions? Go to questions@koreabcw.com

Everything Korea, July 6 Episode: An Edgy Korean Counter-culture?

July 7, 2015 Stacey Commentary Comments Off

To recap my thoughts in previous posts, a strong Creative Class is seen as key to sustaining a forward-leaning, innovative economy. Going hand in hand with this is workplaces that embrace diversity and openness, are not opposed to self-expression, promote individual recognition for hard work as well as resulting compensation (more than a base pay) for doing what they are good at… and they work in a community offering an engaging and even edgy lifestyle.

So where do I see disconnects between South Korea and America?

For starters in America the old Fordism and Company Man model at least for the creative class has shifted. Workers were once strongly tied to the company, this relationship nicely summed up by Richard Florida, “You were a company man, identifying with the company and often moving largely in the circles created or dictated by it.” Today, creatives value their unique social identity–one able to move intact from firm to firm and well as assuming the risks and absorbing the benefits companies once backed.

In contrast, rooted in Korean norms and collectivism, Korean workers strongly identify with their company—perhaps more so within the major Groups like Samsung, Hyundai, LG, and SK, as well as those working for a high profile global brands in Korea like Nike.

These organizations tend to be highly traditional vertical (and often horizontal) corporations— top-down management hierarchically flowing workload down to teams (most often operating in silos) with the Taylorized expectancy they follow routines and norms long established. In contrast, a creative work culture dies when so regimented as Florida points out, “ like rote work in the old factory or office.” A long hour chained to cubical cranking out Point points is very different than a culture where ideas are conceptualized inside one’s head in a café over a latte or during a trail run.

All said, one could argue Korea may not be wired for fostering a sustainable creative culture.

What I do find as encouraging is many in Korea on a personal level attracted to and appreciate counter-culture. There is an ever growing segment is their society adopting a lifestyle more conducent to creativity. Much of this influence has been Koreans exposed to the global art scene, the influence of expat non-Koreans, plus Koreans embracing their own traditional artisan heritage. In some ways, this movement has taken on a rather edgy Bohemian feel… one I find very cool.

Seoul LP Bars, the 60s and Dylan.

For example, Korean media reports there are a growing number of “dives with DJs and extensive collections of LPs,” many located in ultra-hip neighborhoods…. walls plastered with album covers from the likes of Pink Floyd, Jimi Hendrix and B.B. King. The interiors shrines to Bob Dylan and Neil Young and the cultural revolution of the 1960s.

One more thing,

I have a request for my friends both Korean and non-Korean expats in Korea to share their observations, especially on the emerging counter-culture.

I’ll also be pulling together some example of a budding Korean counter-culture scene and what I see as roadmap for workplaces looking to attract and groom creatives—not only for Korea, but also for their U.S. and global operations.

Until next time…

Schedule a chat? http://www.meetme.so/southerton

Direct Questions? Go to questions@koreabcw.com

Everything Korea, June 29 Episode: the Gap in Norms

June 30, 2015 Stacey Commentary, News, vodcast Comments Off

Outside my day-to-day support of Korean facing business and clients, I am drawn to ponder on issues and drill deep. I other words research, investigation and then providing commentary on the direction of Korean business from trends inside Korea to Korea-facing international operations.

An example of this process, several years ago I coined the term K-lobalization (Globalization with a K for Korea) as I saw the trend when Korean firms boldly promote their own unique management style and corporate culture internationally and across many markets. A recent manifestation is organization-wide, corporate-directed mandates…. from core value, vision, and management training directives to most recently how they should brand or even target specific consumers in local markets. Usually these programs are expected to be unchallenged and accepted without question by overseas teams—at times not in the best interest of the local operation.

This said, a new topic, which has my interest, was touched upon in May 11 edition of Everything Korea… there I argue a key challenge in Korean success with startups and innovation was “culture. I would like to expand this perspective more broadly to be the “culture” needed to foster the Creative Process in general. In fact, this is the first of three commentaries on the topic.

Let me explain. What has evolved in America regarding startups, tech, and innovation is they tend to hub in cities with diversity and strong counter-cultures like Boulder, Colorado, San Francisco, Austin, TX, and NYC, although more and more scenes are emerging in Nashville, TN or here in Golden, CO…

Nuff said…Edgy Austin and Jack Kerouac

Within these communities I have witnessed an amazing synergy not only in day-to-day interactions and dialogue, but also in resources. Actually spending an hour and listening to the chats and even pitches for Angel Funding in edgy Caffe Centro on a South Park Street in San Francisco (the couple of blocks once referred as the Tech Ground Zero and where concepts like Twitter were launched and well as scores of tech companies and startups now call home) one quickly sees why locating in one of these scenes is key. In fact, showing how widespread, I frequently hear similar coffee shop launch pitches in Golden, Colorado.

Let me explain more in detail.

As academic Richard Florida points out in The Rise of the Creative Class, creatives as a group reflects a “powerful and significant shift in values, norms, and attitudes.” He clusters this attitude to be:

1) Individualism

2) Meritocracy

3) Diversity and Openness (which can translate to gender, sexual preference, race and my favorite “personal idiosyncrasies”.)

Of course those familiar with the Korean workplace and by this I don’t mean only the larger organizations but even most progressive firms, recognize there is a huge disparity from these “creative” norms.

For example, in contrast to the individualism within the creative class, in Korea we find deeply rooted collectivism where the group is the primary unit of reality and the ultimate staendard of value.

In collectivistic societies, group goals take precedent over an individual’s objectives. This view does not deny the reality of the individual, but, ultimately, collectivism holds that one’s identity is determined by the group(s) with which one is affiliated.

Collectivistic cultures also require that individuals fit into the group—and “conform.”

Noting this, outside values, norms and attitude, perhaps the gap between US and Korea that also occurs is in “risk mindset.” Today the American entrepreneurs, angel investors and VC who launched Facebook, Twitter, Instagram, Linkedin, Square and now Super continue to look for, invest and provide mentorship and guidance to what they hope will be the next success story…. In most cases they are investing resources in multiple ventures….

This said they know and accept that failure is part of the process…. As Biz Stone (co-founder of Twitter, and an early investor in Square, Medium…and a bunch more) said at SXSW on his most recent work… “the failure of one venture, Jelly, led to success at a venture, Super.me ”

So getting back to Korea the real challenge is not in lack of ideas or topnotch talent, but in allowing and fostering a culture of Diversity and Openness, an acceptance of failure, and tolerating and even embracing non-conformity.

The good news…. I would not give up on Korea and a creative culture. More of my thoughts on this in the next episode of Everything Korea. I even will propose a roadmap for grooming creatives in Korea.

So until next time…

Links

The Rise of the Creative Class http://www.amazon.com/Rise-Creative-Class-Revisited-Anniversary-Revised/dp/0465029930/

The Beat Museum http://www.kerouac.com

Biz Stone’s Super.me https://super.me

Questions and Comments? questions@koreabcw.com

Everything Korea: Episode June 15, On-boarding

June 17, 2015 Stacey Commentary Comments Off

I truly enjoy sharing the nuances of Korean business culture—whether through my books, Vodcasts like this one, in media interview and articles, or coaching those new to the Korea facing workplace.

Long part of my core business has been On-boarding. In fact, this week I have a number of engagements scheduled in Southern California with some planned for San Francisco in the next future.

On-boarding or, organizational socialization is where new employees, from C-level staff to entry-level hires, acquire necessary knowledge, skills, and behaviors to be effective in their job. In most cases for my work this means those employed by Korean companies, but it also includes those partners that provide services to Korean global firms

A common false assumption taken by some is those new to the company or project “will get” the cultural nuances without considerable support. Nothing can be more mistaken.

I find the Struggles for non-Koreans can range from team members not dealing with matters feeling it may offend their Korea colleagues to being perplexed and frustrated why approval processes are so complex or why Finance appears to be the making final call in critical operational decisions. The later two situations covered extensively in my books Korea Facing and Korea Perspective. See link below.

All said, my role in On-boarding is to provide context and the reasons behind Korea facing business, while over time mentoring, coaching and steering teams and C-level leadership to solutions.

If coaching and mentoring is like something you and your company can benefit from, I have blocked out some times I’m available to discuss more. Just go to http://www.meetme.so/southerton
Until next time…

Link to Don’s books
http://www.amazon.com/gp/search…

‪#‎onboarding‬ ‪#‎koreanbusinessculture‬ ‪#‎coaching‬ ‪#‎koreanglobalbusiness‬‪#‎culturalnuance‬ ‪#‎mentoring‬ ‪#‎bridgingcultureworldwide‬

Everything Korea: Episode June 8—The Short Answer

June 9, 2015 Stacey Commentary, News Comments Off

I was on a conference call last week when asked how best to describe my work—and do I provide consulting for CEO and C-level management—her organization’s international development committee made up of a number of CEOs.

My short answer was that a client and long friend, then a CMO for a major company best described my practice to others as Everything Korea… I also like having been introduced as “ a high power consultant” or Don is “the guru, the guy CEOs want to have their voice heard with, “ the later shared on Seoul’s eFM tbs Koreascape.

Pondering over the weekend on the question from the conference call much of what I do is provide context and a strategy to decision-makers involved in Korean facing business projects that range into the hundreds of million of Dollars.

In particular, I provide counsel and solutions based on my years working with Korean business—a good part in the international expansion into new markets and the challenges that surface and as a client once asked “ where are the landmines he needs to be aware of and avoid.”

So this gets to why I post weekly Vodcasts, frequent media commentaries, case studies as well as books on Korea facing topics. They all serve as channels to support and educate.

This said, in my consultancy each engagement needs to be approached on a case-by-case basis—no two situations identical.

If you feel you might benefit from my C-level insights, I’ve blocked out my availability to chat and discuss…. Just go to http://www.meetme.so/southerton

In closing:

A great book on the reshaping of the American economy and the New Order… check out Richard Florida’s The Rise of the Creative Class, Revised Edition. I prefer the Hardcover.

And the music on Repeat Song listened to while drafting this week’s episode—Pink Floyd, “Wishing You Were Here” Re-mastered Available on iTunes.

Links

Seoul eFM Koreascape http://www.tbs.seoul.kr/efm/koreaScape/

The Rise of the Creative Class

http://www.amazon.com/Rise-Creative-Class-Revisited-Anniversary-Revised/dp/0465029930/

Pink Floyd, “Wishing You Were Here”

https://itunes.apple.com/us/album/wish-you-were-here-remastered/id704223460

Everything Korea: May 25 Episode: Diverse Sub-cultures

May 27, 2015 Stacey Commentary, general, News Comments Off

Coming off the Memorial Day Weekend Holiday here. I use holidays as a time to write, read, recharge and re-focus. This means opting out perusing Facebook and Twitter, as well as checking emails. I’m happy this year both the American holiday and Buddha’s Birthday (a legal holiday in Korea) fall together.

I was again asked what’s been on my reading list. I recommend for starters, Brian Grazer’s (the Hollywood producer and with creative partner Ron Howard founded Imagine Entertainment) new book A Curious Mind

A second Book: The start-up of YOU, by Reid Hoffman, co-founder and Chairman of Linkedin

And, Hatching Twitter, by Nick Bilton

All three give some great insights into the varying aspect of American business–behind the scenes and sub-cultures.

This brings us to today’s topic—these recognizing diverse sub-cultures. To often like an iceberg what is seen on the surface only shares a potion of a business and in particular for that business model in a respective market or region.

What is truly deceptive is that on the surface business is business, and all can appear similar. Where the challenge emerges is that each business sectors can vary considerably in the West, and the three books I mention highlight just how different.

For example Brian Grazer, as a Hollywood insider and successful TV and film producer talks about expectations within filmmaking and specifically Hollywood that require special mindset— which at the core is “creating ideas.”

Building on this, the other two books look at recent trends and sub-cultures that exist within…

As the Linkedin Chairman points out that in contrast to an old model embodied by the once great Detroit, we find the entrepreneurial mojo of Silicon Valley embracing a willingness to take bold risks and accept failure, coupled with a network of alliances to work in collective action.

More revealing to inner workings, we find in Hatching Twitter that can things vary lots even across startups. Cited in the book one of the Twitter co-founders Biz Stone willingly went to a startup which would become Twitter from “unlimited free meals, free snacks, free buses to work, and a free inexhaustible everything at Google and replaced with a office where homeless people slept in stairway, the only free transportation was his two feet, and the only free food and drink was a beer after work if EV [his boss] picked up the tab.”

This said, the author notes, “ The cultural difference was incalculable. The sterile, robotic culture of Google, with its know-it –all engineers and bossy bosses, was now replaced with tattooed hackers with a do-what-you-want mentality.”

So what am I saying…

To my friends and clients in Korea, I’d share these are just several examples of the diversity in Western work culture and norms—a deep understanding required to be effective in the local market.

In contrast, although no two Korean Groups are entirely alike in their mindset and even Divisions and sister companies within a Group can vary some—workplace culture, norms and process are very relatively similar. For example, hierarchical titles, role of Finance, a team focus, a junior’s deference to seniors, pressure to take action over considerable upfront critical thinking, as well as top down oversight and decision making.

All said, I am often asked about a pet project of mine over the past year Mad For Garlic. My Korean friends and the expat community in Korea know the brand well. In short…. Mad For Garlic is known for its unique and innovative menu with garlic-specialized Italian cuisine.

I was asked to assist the team in US market entry. A rare and very smart move by the Korean team who recognized the need for local support. Our first round was getting the word out to the FSR industry. This is summed up nice in a PDF study. Link below.

As if often the best case, our original strategy to find a master developer for the US market has evolved to now finding a VC or Angel to invest in the International development of the brand. This makes considerable sense with a recent $48 MM investment by Standard Chartered Private Equity (SCPE) in the now 40 plus domestic Korea Mad For Garlic operations. This new partnership with SCPE will accelerate Mad for Garlic’s Korea expansion. Working with the Korean team we seek to accelerate the International development though a similar partnership. Questions, thoughts or an interest, please contact me directly and we’d love to discuss more.

Oh and one more thing…. I am off to Nashville, Tenn. area this week and more specifically as speaker a panel on international development held in Clarksville-Montgomery County, soon be home to a $180MM Hankook Tire plant.

So until next time….

Links

A Curious Mind, http://ww w.amazon.com/dp/147673075X

a startup of YOU, http://www.amazon.com/dp/0307888908

Hatching Twitter, http://www.amazon.com//dp/1591847087

Mad for Garlic Market Entryhttp://www.bridgingculture.com/assets/madforgarliccasestudy.pdf

« Older Entries Recent Entries »