International Business Seminars

The Japanese occupation of Korea, from 1910 to 1945, was a period marked by severe repression and exploitation. Japan annexed Korea, aiming to assimilate it culturally and economically. Korean language and culture were suppressed, with Japanese becoming the official language. Land was confiscated, and Koreans were forced into labor and military service, with many women subjected to sexual slavery as ” comfort women.” Despite this, Korean resistance persisted through underground movements and the establishment of a provisional government in exile. The occupation left deep scars on Korean society, fueling a strong nationalist movement that played a crucial role in Korea’s eventual liberation and subsequent division into North and South Korea following Japan’s defeat in World War II.

South Korea’s rise as a global cultural powerhouse, known as the “Korean Wave” or Hallyu, began in the late 20th century and has surged into the 21st century. This transformation was fueled by strategic government support, significant investments in the entertainment industry, and a focus on global markets. South Korean pop music (K-pop), characterized by its catchy melodies, slick production, and dynamic choreography, gained international fame with bands like BTS and BLACKPINK. Korean dramas (K-dramas) and films, known for their high production values and compelling storytelling, found massive audiences worldwide, exemplified by the global success of movies like “Parasite” and series like “Squid Game.” Additionally, advancements in technology and social media platforms have facilitated the global dissemination of Korean culture, making it accessible and appealing to a diverse international audience. This cultural export has not only boosted South Korea’s economy but also enhanced its global influence and soft power.

For a snapshot and forecast on the South Korean economy, check out this link. 

South Korea’s currency is the South Korean won, abbreviated as KRW and symbolized as ₩. Introduced in 1945, following the end of Japanese rule, the won initially replaced the Korean yen. The Bank of Korea, established in 1950, is responsible for issuing and regulating the currency. The won underwent several revaluations, with the current version, being introduced in 1962. South Korean banknotes and coins feature significant historical figures and landmarks, reflecting the nation’s rich cultural heritage. The won is a critical component of South Korea’s robust economy, facilitating trade in one of the world’s most dynamic and technologically advanced markets. 

South Korea’s economic transformation, often termed the ” Miracle on the Han River,” is a remarkable story of rapid development and modernization. Post-Korean War, South Korea shifted from an agrarian economy to an industrial powerhouse, focusing on manufacturing, export-driven growth, and technological innovation. Major conglomerates, known as chaebols—such as Samsung, Hyundai, and LG—played a crucial role in this transformation. The government’s strategic economic policies and investments in education and infrastructure facilitated this growth. Today, South Korea boasts a highly developed economy, ranking among the world’s largest, with strong sectors in electronics, automotive, shipbuilding, and more recently, entertainment and cultural exports. The country’s emphasis on innovation and technology continues to drive its economic prowess on the global stage. 

South Korea operates as a democratic republic with a presidential system. The government is divided into three branches: executive, legislative, and judicial. The President, currently Yoon Suk-yeol, serves as both the head of state and government, holding significant executive power, including command of the military and influence over domestic and foreign policy. The National Assembly, a single-chamber legislature, is responsible for making laws and overseeing the executive branch. The judicial branch, headed by the Supreme Court, ensures the enforcement and interpretation of laws. South Korea’s political system is characterized by regular elections, active civil participation, and a vibrant multiparty landscape.

The legislative process in South Korea is carried out by the National Assembly, which is a unicameral body consisting of 300 members. Legislation can be proposed by members of the National Assembly or the executive branch. Proposed bills undergo a review process that includes committee examination, where they are debated and amended. Once a committee approves a bill, it proceeds to a plenary session of the National Assembly for further debate and a vote. If the bill passes with a majority vote, it is sent to the President for approval and promulgation. The President can veto the bill, but the National Assembly can override the veto with a two-thirds majority vote. This process ensures that proposed laws are thoroughly examined and debated before becoming law.

The Korean monarchy, which traces its origins back to ancient kingdoms like Goguryeo, Baekje, and Silla, experienced its final era under the Joseon Dynasty, which ruled from 1392 to 1897. In 1897, King Gojong declared the establishment of the Korean Empire, aiming to strengthen sovereignty in response to external pressures. However, the empire’s sovereignty was short-lived due to increasing Japanese influence and intervention. In 1910, Japan formally annexed Korea, bringing an end to the Korean monarchy and incorporating Korea into the Japanese Empire. This annexation marked the dissolution of the imperial system, leading to decades of Japanese colonial rule until Korea’s liberation in 1945.

South Korea’s volcanic landscape, particularly centered around Hallasan on Jeju Island, holds both geological and cultural significance. Hallasan, a dormant shield volcano and South Korea’s highest peak, not only shapes the island’s topography but also features prominently in Korean folklore and mythology. It is often depicted as a sacred and mystical place, believed to be the home of spirits and gods. Pilgrimages to Hallasan are common, reflecting its cultural importance as a spiritual site. Additionally, volcanic activity has influenced local traditions and practices, such as the cultivation of volcanic soil for agriculture and the utilization of volcanic caves for shelter and storage. The volcanic scenery of Jeju Island, with its rugged coastline, lava tubes, and crater lakes, also serves as a source of inspiration for artists, poets, and writers, contributing to South Korea’s rich cultural heritage. 

South Korea’s tidal flats, particularly along the western and southern coasts, are vital geographical features with significant ecological and economic importance. These expansive intertidal areas, formed by the rise and fall of tides, are home to diverse ecosystems supporting a wealth of marine life, including various fish species, crustaceans, and migratory birds. The tidal flats serve as crucial feeding grounds and habitats for numerous species, making them essential for biodiversity and conservation efforts. Additionally, they play a critical role in supporting local fisheries and aquaculture industries, providing livelihoods for coastal communities. Furthermore, tidal flats act as natural buffers against coastal erosion and storm surges, contributing to the resilience of coastal ecosystems and communities. Given their ecological, economic, and protective functions, preserving and managing these tidal flats is paramount for the sustainable development and resilience of South Korea’s coastal regions.

South Korea’s rivers, including the Han, Nakdong, and Geum, play a crucial role in the country’s geography and development. These rivers originate from various mountain ranges and traverse the landscape, providing essential freshwater resources for agriculture, industry, and domestic use. The Han River, flowing through the capital, Seoul, is particularly significant, serving as a lifeline for the city and its surrounding metropolitan area. Additionally, rivers like the Nakdong and Geum facilitate transportation and commerce, historically contributing to the economic growth of their respective regions. Furthermore, South Korea’s rivers support diverse ecosystems, hosting a variety of plant and animal species, and providing habitats for wildlife. However, these waterways also face challenges such as pollution and habitat degradation, highlighting the importance of sustainable management and conservation efforts to safeguard their ecological and geographical significance for future generations. 

Kimchi holds a central place in South Korean cuisine and culture, serving as both a staple food and a symbol of national identity. This fermented vegetable dish, typically made with cabbage, radishes, and a blend of spices, embodies the essence of Korean culinary traditions and flavors. Beyond its delicious taste, kimchi is deeply intertwined with South Korean customs and rituals, often appearing in every meal as a side dish. Its preparation and consumption are steeped in tradition, with families passing down recipes and techniques through generations. Kimjang, the communal kimchi-making event held before winter, underscores its cultural significance, fostering social cohesion and solidarity within communities. As a source of vitamins, probiotics, and fiber, kimchi also symbolizes health and vitality. Its enduring popularity and symbolic value highlight the enduring connection between food, culture, and identity in South Korea.

Lunar New Year, known as Seollal, and the Harvest Festival, called Chuseok, are two of the most significant traditional holidays in South Korea, deeply ingrained in the country’s cultural fabric. Seollal marks the beginning of the lunar calendar and is a time for family reunions, ancestral rites, and paying respects to elders. Families gather to share traditional foods like tteokguk (rice cake soup) and participate in activities such as playing games and wearing hanbok (traditional clothing). Chuseok, on the other hand, celebrates the autumn harvest and is a time for expressing gratitude to ancestors for the year’s abundance. Families visit ancestral graves, perform rituals, and feast on delicacies like songpyeon (rice cakes filled with sweet fillings). Both holidays emphasize family unity, respect for elders, and the importance of cultural heritage, fostering a sense of belonging and continuity across generations in South Korean society.

Jesa, the traditional Korean ritual honoring ancestors, remains an important cultural practice in South Korea today, albeit with some modern adaptations. Typically held on significant dates such as Lunar New Year and Chuseok, families gather to pay respects to deceased ancestors by offering food, drink, and incense at ancestral tablets or altars. While the core rituals remain unchanged, the way jesa is practiced has evolved with contemporary lifestyles. Many families now incorporate convenience foods alongside traditional dishes, and some opt for simplified versions of the ceremony due to time constraints. However, the underlying reverence for ancestors and the emphasis on family continuity remain intact, ensuring that jesa continues to serve as a vital link between past and present in Korean culture.

Hanbok, the traditional Korean attire, continues to be worn in modern South Korea, albeit mainly on special occasions and formal events. While daily wear has largely been replaced by Western clothing, hanbok remains an enduring symbol of Korean cultural identity and heritage. Today, hanbok is often worn during weddings, festivals, and traditional ceremonies, as well as for cultural performances and special occasions. Designers have also introduced modern adaptations of hanbok, incorporating contemporary elements while preserving its traditional aesthetics. Despite these changes, the elegance and beauty of hanbok continue to captivate both Koreans and people around the world, serving as a reminder of Korea’s rich cultural legacy.

K-pop fashion has become a significant cultural phenomenon in South Korea and around the world, influencing trends and styles across diverse demographics. Characterized by bold colors, eclectic designs, and innovative aesthetics, K-pop fashion often blurs the lines between gender norms and embraces individual expression. K-pop idols serve as influential style icons, showcasing diverse fashion trends through music videos, performances, and social media platforms. This influence extends beyond South Korea’s borders, shaping global fashion trends and attracting a dedicated fanbase worldwide. K-pop fashion has spurred collaborations between Korean fashion brands and international designers, further amplifying its impact on the global fashion landscape. As a result, K-pop fashion continues to evolve and inspire new generations of fashion enthusiasts, cementing its position as a powerhouse in the global fashion industry.

Gender-neutral fashion has gained popularity in South Korea as part of a broader cultural shift towards greater acceptance of diverse gender identities and expressions. Influenced by progressive attitudes and changing social norms, South Korean fashion designers and brands have embraced the concept of gender fluidity, offering clothing lines that defy traditional binary distinctions. This trend has been fueled by the rise of younger generations challenging conventional gender roles and seeking clothing options that reflect their individuality and authenticity. Gender-neutral fashion is now widely seen as a symbol of inclusivity and self-expression, with many South Koreans embracing the freedom to dress in styles that resonate with their personal identity rather than conforming to societal expectations based on gender. While still evolving, gender-neutral fashion in South Korea continues to push boundaries and redefine the norms of the fashion industry, encouraging creativity, diversity, and acceptance.

South Korea is generally considered highly accessible for travelers, with well-developed infrastructure and transportation networks catering to diverse needs. Public transportation, including subways, buses, and trains, is efficient, clean, and relatively affordable, making it easy to navigate major cities like Seoul and Busan. Many tourist attractions, accommodations, and facilities are wheelchair-friendly, with ramps, elevators, and accessible restrooms available in most places. English signage and announcements are prevalent in tourist areas, further enhancing accessibility for international visitors. Moreover, South Koreans are known for their hospitality and willingness to assist travelers, making it easier for individuals with mobility or communication challenges to navigate and enjoy their experience in South Korea.

South Korea has made significant strides in LGBTQ protections in recent years, although challenges remain. While there are no explicit anti-discrimination laws based on sexual orientation or gender identity at the national level, South Korea’s constitution guarantees equality and human rights for all citizens. In 2019, the South Korean Supreme Court ruled that military penal code provisions criminalizing consensual same-sex conduct were unconstitutional, marking a significant step forward for LGBTQ rights. However, societal attitudes towards LGBTQ individuals can vary, with conservative views still prevalent in some segments of society. As a traveler, it’s essential to be mindful and respectful of local customs and attitudes towards LGBTQ issues. While major cities like Seoul have vibrant LGBTQ communities and nightlife, discretion may be advisable in more conservative areas. Additionally, LGBTQ travelers should exercise caution when displaying affection in public and research LGBTQ-friendly establishments and resources beforehand to ensure a safe and enjoyable experience in South Korea.

Traveling in South Korea with children can be a rewarding experience, as the country offers a wide range of family-friendly attractions and activities. From vibrant amusement parks like Everland and Lotte World to educational experiences at museums and cultural sites, there’s no shortage of things to do for kids of all ages. South Korea’s efficient public transportation system makes it easy to get around with strollers and young children, while family-friendly accommodations and dining options are readily available in major cities and tourist areas. Additionally, South Koreans are generally welcoming and accommodating towards families with children, making it a safe and enjoyable destination for family vacations. However, it’s essential to consider factors such as weather conditions, cultural differences, and language barriers when planning a trip with children, and to prioritize their comfort and safety throughout the journey.

Standard Korean, based on the Seoul dialect, serves as the predominant form of the language in South Korea, used in education, media, and official communications. It adheres to grammatical rules and pronunciation conventions established by linguistic authorities. However, South Korea also boasts significant regional dialectical variation, with distinct dialects spoken in different parts of the country. These regional dialects, such as Gyeongsang, Jeolla, and Chungcheong, exhibit unique phonological, lexical, and grammatical features, reflecting the diverse linguistic heritage of South Korea. While Standard Korean serves as a common linguistic foundation for communication across the country, regional dialects contribute to the richness and diversity of Korean language and culture, shaping local identities and fostering a sense of community among speakers.

In South Korean culture, honoring speech levels play a crucial role in communication, reflecting social hierarchy, respect, and politeness. Korean language etiquette dictates different speech forms based on the relative status and familiarity between speakers. Honorifics and deferential speech forms are used to show respect towards elders, superiors, and strangers, while casual speech forms are reserved for interactions among peers or in informal settings. The use of honorifics extends beyond just verb endings to include special vocabulary and grammatical structures. Failure to use appropriate honorifics can be perceived as disrespectful or impolite. Understanding and mastering the nuances of honoring speech levels are essential for effective communication and navigating social interactions in South Korean society.

North and South Korean language differences exist due to decades of separation and differing linguistic influences. While the Korean language is largely mutually intelligible between the two countries, there are noticeable divergences in vocabulary, pronunciation, and usage. North Korea has been more resistant to foreign loanwords, preferring to maintain linguistic purity, while South Korea has embraced loanwords from English and other languages, especially in domains such as technology and entertainment. Additionally, there are differences in terminology related to political ideology and historical events, reflecting the contrasting narratives and ideologies of the two Koreas. Despite these differences, efforts are ongoing to preserve the integrity of the Korean language and bridge the linguistic gap between North and South Korea.

Check out this video from the National Museum of American Diplomacy explaining the difference between each organization and how they function together to protect US citizens traveling abroad. LINK

LINK to list of U.S. Embassies and Consulates in South Korea