A Gallup Korea poll revealed that four in five foreign executives of multinational in Korea wouldn’t consider setting up regional headquarters in the country, with the labor environment topping the list of concerns.
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4 Comments
Predictable. All these years, and Korea hasn’t gotten handle on developing a reasonable and productive labor movement yet… that is sad.
Labour laws – which only apply to foreign companies, of course :-); business practices; housing; schooling – let’s not start again that thread; weather – what kind of higher management dude wants to spend deliberately months in sub-zero weather; financial flexibility – repatriation of monies earned, taxation, etc. These are the arguments I have often heard while managing the French Chamber.
The cost of living argument is dubious though, since regional hubs are mainly in HK and S’pore, with a few in Japan, not exactly cheap cities. It is true though that the cost/quality ratio is on the low side of things. Regional HQs usually have lots of expats, and you don’t generally attract these people with sub-zero temps and crappy living conditions – that is, in comparison with what other countries have to offer…
Well, to be fair, the weather is something completely beyond control of the Hub boys.
There’s more….check out this one http://www.donga.com/fbin/outp.....607310066# or the abridged English version http://english.donga.com/srv/s.....6073166248