Research on South Korea
The situation of business ethics in South Korea is not that good and the problems of corruption and bribery are increasing in the country. In South Korea no one believes that government regulations are strong enough to solve the prevailing problem of corruption and bribery in the country. The situation is getting dubious in South Korea and people and business related individuals are overlapping the concept of offering gifts and bribes. The Koreans are unable to distinguish between gifts and tribes. This is considered to be one of the biggest ethical issues in the country. The distinction between both bribery and gifts is not defined and not that is the reason why it is not practiced clearly (Chap Sup & Nahn Joo, 2001). The problem of corruption is so intense in South Korea that teachers receive white envelopes from the parents of their students. This problem of corruption exists because of lack of trust in the government and mismanagement of business enterprises.
The history of South Korea depicts that high level government bribery which is linked with business enterprises has been exposed a couple of times. There are numerous historical cases of bribery attached with South Korea. However in the recent era the ethical standards are shifted from bribery to subliminal advertising and internet scams. However, in the Korean society depicting unethical behavior is a common practice. The South Koreans usually believe that their unethical business practices must not be measured with the Western standards and they have the tendency to justify their behaviors from an ethical point of view. The Koreans must define their gray areas and for that reason they have to comply with the rules of business ethics and in this manner they can enhance their competiveness in the global arena. One of the latest ethical lapses in South Korea is unethical advertising and the push marketing strategy that is implied by different organizations.
Both South Korea and the United States of America have entered into certain contracts and joint ventures. The effectiveness and efficiency has varied from time to time because both the countries have certain conflicts with each other. Certain contracts and joint ventures between these two countries are termed as successful and some are labeled as unsuccessful. The examples of these joint ventures are listed below:
· Cisco is considered to be the most viable example a successful joint venture. The CEO of Cisco Systems claimed that the company first planned a $2 Billion investment and in the long run they are planning to enhance their investment. Chambers stressed on the point that Cisco systems are the biggest maker of networking gear in South Korea and they are ended the year on a larger note (The Steet, 2009).
· The biggest failure as far as a joint venture is concerned between the organizations of South Korea and USA is between Chrysler and Hyundai. The joint venture troubles both the organizations because the domestic market share was falling and the viability of both the organizations was being questioned. The small car venture between the companies was cancelled. Financial considerations were raised because of the joint venture and that is the reason why the joint venture between the two companies was broken (Levin, 1990).
References Chap Sup, C., & Nahn Joo, C. (2001). Offering gifts or offering bribes? Code of ethics in South Korea. Journal of Third World Studies .
Levin, D. (1990, July 24). COMPANY NEWS; Chrysler And Hyundai Venture Off. The Newyork Times .
The Steet. (2009, April 15). Cisco Could Raise South Korea Investment. Retrieved April 29, 2009, from www.thestreet.com: http://www.thestreet.com/story/10486179/cisco-could-raise-south-korea-investment.html