By Jane Han
Staff Reporter
Immediately after the Halloween decorations are boxed away, malls in most parts of the world are lining their shelves with Christmas specials, signaling corporations and individuals to start their annual shopping for gifts.
However, the biggest holiday and spending season isn't always merry, as givers become stressed and wary about which gifts say too little or too much.
Global business observers say that the Enron and Tyco scandals have significantly remolded the culture of improper gift giving. And locally, the recent scandal over Samsung's extravagant gifting has raised issues again, raising the question of when a token of appreciation is ethical on both sides.
While a majority of U.S. and European companies detail in the company's code of ethics book a gift's monetary limit _ typically around $100 _ some follow a more principle-driven policy.
For example, the New York Stock Exchange and Nasdaq recently said although a $100-limit is advised, it is up to the giver and receiver to decide how reasonable and appropriate a gift is.
But many organizations raise doubts to this lenient approach.
``Enforcing a principle-based approach is more difficult when the company is part of an industry where certain practices are accepted as part of doing business,'' Patricia Harned, president of the Washington D.C.-based Ethics Resource Center, wrote in a column. ``What if a potential vendor buys you lunch with the promise that `you can pay next time,' but there is no next time?''
Among domestic companies, which embrace the country's traditional practice of ``generous'' giving _ detailed guidelines aren't common here as they are overseas, but a business lobby group recently outlined some general rules of thumb.
Categorized into six different types of giving, some pointers advised by the Korea Chamber of Commerce and Industry (KCCI) cover golf rounding, congratulatory money, dinner and buying drinks.
The report said congratulatory/condolence money and meals per person shouldn't exceed 50,000 won, while golf is OK for corporate events, but not through individual invitations.
Although growing efforts are being made to provide clearer guidelines for givers and recipients, the general trend is shifting toward less giving.
Workplace giving has declined steadily over the past 10 years, according to a 2006 report Inc.com, attributing the reason to time shortage and tight finances.
Another survey done by American Express Small Business Monitor showed that this year 59 percent of companies said they will offer gifts to clients out of guilt, while 70 percent said so last year.