Is President’s Granddaughter Learning Chinese Too?By Sunny Lee Korea Times Correspondent BEIJING ― This week quietly marked the 17th anniversary of South Korea and China establishing full diplomatic ties, which left behind the decades-old Cold War estrangement. Although the word "China" has since been a buzzword in South Korea just as it is everywhere else on the planet, especially among the business nomads who have flocked there, South Korean policy makers' enthusiasm on the new global magnet has been strangely moderate, if not subdued. This warrants correction, observed an eminent strategist. "It's like an earthquake is about to happen. Korean business people have the animal instinct and can feel it coming. So, they are moving ahead. But politicians are human beings. They are slow to react," said Cho Dong-sung, who teaches about the relationship between political policy and business strategy at Seoul National University, during a dinner chat here in the Chinese capital. Today, China is the epicenter of seismic global change. "China's rise" has also become a global mantra. Yet "10 years ago, no economics professor Aug 28, 2009
Guanxi Takes 30% of Doing Business in ChinaBy Sunny Lee Korea Times Correspondent BEIJING ― With China's ever increasing global prominence in business, those with interest in China have been treated to a binge of books about ``how to do business in China.'' Subsequently, a glut of wisdom has been shared. However, recently, a debate has emerged regarding how much ``guanxi'' or ``personal relationship'' plays a role in doing business in China. Some brush guanxi aside, saying it doesn't work in modern China. Others overestimate its role as a magic pill that opens the door for business opportunities. Cheung Kin-yu, a Hong Kong entrepreneur who has taught a ``Doing Business in China'' course to MBA students at a number of schools, including the Chinese University of Hong Kong, the University of South Australia and Tsinghua University, argues that guanxi still makes up 30 percent of Chinese deal-making culture. The 60-year-old Cheung spoke to the Korea Times in order to offer some tips on ``doing business in China,'' specifically tailored for Koreans. Korea Times: What's the biggest weakness of Koreans doing businesOct 20, 2008
China in Transition in Management Leadership StyleChina is a country of old and new and one that is in transition. In every sector, it is now in the process of blending its tradition, customs and practices with Western concepts and ideas. In the business world, it is the blending of its wisdom and Western practices. Frank Gallo, the retired Greater China Managing Consultant of Watson Wyatt Worldwide, recently published an interesting book ``Business Leadership in China.'' The 220-page book sheds light on the uniqueness of China's business leadership, the clash of old and new generation leaders and its transition to hybrid management leadership practices. Michael Barbalas, president of the American Chamber of Commerce in China, said, ``Frank GalloSep 16, 2008