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Legal Business Practices In The United States And Korea

1503 words - 6 pages

Introduction
The purpose of this paper is to describe business practice in detail and provide a comparison of South Korea with that of the United States in regard to business practices. The researcher will define ethical and legal business practice as well as unethical and illegal business practices. Furthermore, the researcher will identify business practices that are considered illegal and unethical in the United States and address why these same practices are considered legal and ethical in South Korea. Finally, the researcher will provide a course of actions to deal with the difference in ethical and legal practices when transacting business with a country that has different standards.
Describe Business Practice
According to Chang, C., Chang, A., and Freese (2001) gifts and bribes are distinctly separate and while gifts are ethical, bribes are considered unethical and illegal. In some cultures particularly South Korea business practice such as the concepts of gifts and bribes are not distinctly separate. The problem is that gift giving can overlap into bribery which is both ethical and unethical at the same time (Chang, C., Chang, A., & Freese, 2001).
Chang, C., Chang, A., and Freese (2001) states gift giving in South Korea is defined as behavior based on social norms for congratulation, gratitude, condolence, attention, and reciprocity. Gift giving is one of the most important practices in South Korea and a person business may be in jeopardy if the individual fails to send a gift. Although a gray area exist between gifts and bribes South Koreans did not miss an opportunity to give gifts especially to prominent figures in hopes of obtaining a favor in the future. Furthermore, South Koreans both the giver and receiver of gifts interpret this business practice as socially acceptable behavior (Chang, C., Chang, A., & Freese, 2001).
According to LawyerShop (2012) bribery is defined as a while collar crime in which money is given in order to receive preferential treat and/or to sway decisions, views, and opinions in favor an organization.
Chang, C., Chang, A., & Freese (2001) defines bribe as:
Any valuable thing given or promised, or any preferment, advantage, privilege or, emolument, given or promised corruptly and against public capacity to violate or forbear from his duty, or to improperly influence his behavior in performance of his duty. (p. 128).
The business practice of bribery is not a new or unique concept to South Koreans. Chang, C., Chang, A., & Freese (2001) identifies situations in which businesses are forced to pay government officials and person in influential positions in order to obtain business permits and licenses, inspection certificates, certifications for operating and occupancy. Bribery is one of the most common practiced patterns of conducting business in South Korea and it is vital to Korean business. It is crucial for outside businesses entering into the Korea marketplace to learn how to deal...

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