Abstract
The article deals with the concept of corporate culture and methods of its formation in the Republic of Korea. This country has been the object of growing international interest among scholars and practitioners due to its remarkable economic achievement in the last few decades.The traditional business culture of Korea is analyzed in terms of its transformation due to rapidly changing socio-economic conditions. The paper looks into the current situation affected by COVID-19 crisis. This research has been carried out within the grant agreement “Establishment of the Center for Korean Studies at Irkutsk State University” with the support of the Korea International Exchange Foundation (KF-2021).
Highlights
Corporate culture being a system of values, traditions, rules and regulations makes the basis of a company’s operating model. It has been the subject of considerable academic interest in various fields such as economics, sociology, intercultural communication for the last decades
The traditional Korean culture is often associated with chaebols culture shaped under the influence of many factors including the following: “cultural heritage rooted in Confucianism, national character, socio-economic conditions in 1960-1980, corporation founders’ leadership and Japanese influence on personnel management” [6, p. 264]
The traditional model is becoming ineffective, it cannot any longer respond quickly to nonstandard situations that have been intensified by the COVID-19 pandemic
Summary
Corporate culture being a system of values, traditions, rules and regulations makes the basis of a company’s operating model. Many researchers have explained South Korean economic success until relatively recently referring to a peculiar management model and corporate culture. The 21st century has become the period of considerable changes in the South Korea’s administrative and corporate culture related mainly to rethinking of many traditional practices [2, p. The core is values being a stable cultural element which changes quite slowly.
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