Study Abroad - International Entrepreneurship
Focusing on Japan and South Korea
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This study abroad course will focus on entrepreneurship, in Japan and South Korea with a particular focus on understanding why the two countries, while seemingly so similar, have developed such divergent entrepreneurial cultures.

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International Entrepreneurship
An Analysis of Two Countries

Introduction

            Our journey to South Korea and Japan was to explore the differences in entrepreneurial activity.  We have learned from the GEM report that Korea has a 14% activity rating while Japan has the lowest in the world with a 1.8% rating.  Our job is to study these two cultures by meeting people from all walks of life.  We are scheduled to meet business leaders, government officials, and people on the street. 
            Our data collection will be broken into three parts.  Each group was required to develop, translate, and disperse their own version of an entrepreneurial questionnaire.  These questions went to the people we met on the street or in shops while exploring the city.  The second way we would gather information was by formal business speakers set up by our professor. The third and final experience was for each individual group to find and interview an entrepreneur in each country.  You will find the information we collected below.

Introduction to Korea

            We started our project in Korea by hitting the streets and interviewing people about entrepreneurship in their country.  We separated into three different locations in order to get a better test group.  Each group member had from 4-5 questionnaires to assist with the interview process.  We approached both people on the street and people behind the counters in different businesses in order to get a more complete view. 
There were a few issues that came up while we were working.  First, we had to make sure that our questions could translate into Korean.  We also weren’t sure if we would have any success with people on the street.  Everything we had heard was that the Asian community is very conservative and may be unwilling to speak to a foreigner.  We couldn’t have been happier to find that we were well accepted and even sought after.  When one person was doing our survey, a couple of others would come over with interest to do it themselves.
            Each questionnaire had 43 questions ranging from simple demographic questions to the more complex entrepreneurial percentages.  The questions we asked were also to get a better feel for the interviewee.  We needed to make sure that our demographic did not just focus on one age group or sex.  As best we could we split the interviews between the sexes.  Below are some of the statistics that we came up with.

Personal Characteristics
           
            Sixteen of our interviews are with working professionals that included all of our 5 age groups that started at 18 and finished with 65+.  Of these age groups 75% fell within the ages of 18-44 and 90% were born in the Republic of South Korea and 55% were married. 
            Our education statistics have 80% of our participants with at least 2 years of higher education.  Of the people that have advanced education 45% have 4 year degrees.  An interesting fact came up in our research; we found that 85% of those we spoke to thought that there were more men than women entrepreneurs. 
            A couple of other statistics that we thought were very interesting are that about 50% either liked being there own boss and 50% did not like to take risk.  The latter statistic was much higher than we assumed.  With such a conservative culture we thought the numbers for risk would be much different.  We were very pleased to see that Koreans are much more open than originally presumed. 

Business Characteristics

            We had many preconceived notions about Korean business from our teachings.  Some were right on and others were incorrect.  Needless to say we learned a lot about how to do business in this society.  Here are some of the facts that we came up with in our interviews.
            The amount of people that knew someone that created and works a business is 85% while only 40% actually owned their own company.   We believe that amount of people that owned their company was a little higher since we interviewed people in shops in Itawan.  This city is lot like China town in New York City.  Almost everything is negotiable and is a place that is visited frequently by the U.S. Armed Services stationed in Korea. 
            Statistically we found that Koreans believed that entrepreneurs were between 35 and 64 years of age with the largest age segment, 35%, between 55-64.  One would suggest that this statistic shows that they believe Entrepreneurship to be for people who are at or near retirement age.  The data also shows that 40% thought that creating new enterprises was on the rise.
            The most surprising numbers that we accumulated came from the question, “What exactly does success mean to you?”  We found that 55% thought that growing the business meant that they were successful while only 45% thought that making a profit was their marker for success.  This would have us believe that Koreans care more about doing a good job than they do about making large sums of money.  Do not think that any of these people would not want to be wealthy; they just have a particular view on how to reach a wealthy state.

Financing Characteristics

            Financing was a tough question for our prospective business leaders, many of which were not quite sure how to obtain money to create their own business.  However, the largest segment of answers showed that 35% had anywhere from W500,000-$1,000,000 Won to use for financing.  A factor we believe comes from the average age of those interviewed.  In the same regards, these people thought, 75%, that a bank loan was the best way to get money for their future endeavors.
            When asked if the government assisted with the creation of new business, 45% thought that the government could do more.  They were also unsure, by 40%, if there were venture capitalists to assist, but 70% said that would like to start their own business regardless of venture capital.

Entrepreneurial Interview
             
We were honored and privileged to interview Changsuk Lee.  Changsuk was the perfect guest; he was polite, informative and very willing to answer all of our questions. He has his undergrad from Yonsei University, Seoul, South Korea in Metallurgical Engineering, while his post grad work was done in France.  Before he created his own businesses he worked for Boeing in Seattle and Merrill Lynch in London. 
The interview flowed easily and comfortably.   We were quite surprised by the amount of information about our topic that Changsuk provided.  Immediately he challenged our Japanese number of 1.8%.  He made it quite clear that he felt that number was much too low.  He also told us about the shift in the Asian market.  His belief is that Korea, now the 11th largest economy in the world, would be the 6th or 7th in the next 5 years.  He also believed that much of the market in this region would transfer to China instead of the incumbent Japanese market.  Eventually, Changsuk believes, the entire world economy will be affected by the Chinese and not the Japanese or the Americans.   He believes that the outgoing nature of the Korean people make them especially entrepreneurial.

Introduction to Japan

We began this part of our trip much the same way we began in Korea.  We entered Tokyo and went straight to work.  We found from the very beginning that this culture was much different from the one we just left.  We tried to get people to take our survey to get statistical data but found it much more difficult.  Instead of people swarming to see what the American students were doing, we found that we would have to work much harder to get the information we eagerly anticipated.
            Once again there was a language barrier that we had to fight through.  First was the word entrepreneur.  We will speak to this issue much more in our conclusion.  However, some of our more personal questions did not translate well into Japanese and a few had to be reworded.  We also ran into a culture that was not accustomed to having strangers from other countries stop to ask them questions.  Once we straightened out our translation problem we went right back to work meeting new and interesting people.   We adjusted our thinking and went to several different café’s to drink some coffee and work our way in to meeting people.  The biggest lesson about the Japanese was that they prefer to meet in a personal setting.   This new strategy worked very well as we completed all or our surveys.  Below are some statistics we produced.
           
Personal Characteristics
           
            Our interviews included 70% working professionals with the largest percentage, 70%, coming from the age group 18-24.  Most of our participants, 90%, were born in Japan and 65% were single.  This is a much different segment of individuals than our first group of surveys as 75% of our group did not own a business.
            Educationally we had 60% of our subjects who had at least a 2 year degree with a 50-50 split between 2 and 4 year certificates.  They also believed, by 75%, that an entrepreneur was between the ages of 25 and 44.  Finally 50% of those questioned had thoughts of starting their own business.

Business Characteristics

            The amount of people from our survey that thought it was hard to break into the Japanese business sector was 60%.   While a resounding 75% knew someone who owned their own business, while 55% thought that entrepreneurial activity was increasing in their country.  We also found that 45% of those interviewed thought that entrepreneur’s owned at least 7% of the businesses with the rest over the 15% mark.  These last statistics were quite different from our original estimates.
            Statistically we found that the Japanese believed that entrepreneurs were between 25 and 44 years of age.  They felt that largest age group, 40%, was between 35-44.  This shows that the Japanese are assumed to start much younger in the quest for personal ownership.   The data also shows that the need to start a business and the opportunity to create was about a 50-50 split amongst those interviewed.
            Once again most surprising numbers that we accumulated came from the question, “What exactly does success mean to you?”  We found that 35% thought that growing the business meant that they were successful while 35% thought that breaking even was their marker for success.  The final 30% thought that making a profit was their key to success.  We learned that the Asian culture’s idea for success appears to be different from those of western cultures like the United States.  It is much more important in these countries for a person to save face by not failing than it is to become wealthy.  

Financing Characteristics

            Financing was again a tough question for our prospective business leaders.  We had varied answers to personal savings being a major factor of investment in ones own company.  The most, 25% had a least $5,000 USD to help themselves start.  Over 70% of those who participates thought that bank loans were the best way to start.  This is a little peculiar since the banking in Japan is still recovering from a 10 year below average market.  Venture capital was also a way that 50% thought they could begin working on their own.
            When asked if the government assisted with the creation of new business, 75% thought that there was some level of government assistance to gain capital but also thought the government could do more.  Even thought most thought that bank loans were the way to go, 50% said that would like to start their own business regardless of how they funded it.

Entrepreneurial Interview

            For our Japanese interview we were lucky enough to question the President and CEO of ChangeVision, Kenji Hiranabe.  Kenji is the founder of the company but his financing came from his previous employers.  He has a software engineering background and helped in the development of their founding product.
The company develops software specializing in UML, unified modeling language.  The company was founded on January 22nd, 2006 and already has over 100,000 users of their software.  Changevision has both a 3 year plan and a 5 year plan.  If they are successful enough they would like to sell the company outright to investor within 3 years.  If they need a little longer to increase equity, their 5 year plan has them going public on one of the Japanese stock exchanges.  Their marketing is both internet and periodical based.  They have offices in a few cities in Japan and an office in China.  They are considered a business to consumer company or a B2C. 
           
Conclusions
           
            We started with the belief that Korea and Japan were drastically different in their entrepreneurial activity and what we learned was quite a bit different.  We were told by the GEM report that Korea had a 14% activity rating with Japan having a 1.8%.  Through our vast array of sources, speakers, government officials, and everyday people, we learned that these numbers were far from accurate.  We learned that while these two countries are far apart on the world economy market, they were very much alike in their entrepreneurial fervor.  
            Here are a few country characteristics that we were privy to.  Koreans consider themselves an open society.  They have 267 Universities that contribute to entrepreneurial activity.  There management philosophy is that good people insure a good company.  They believe the people will follow by virtue not by power.  They also think that success is part of progress and that a company should pay for a job not the person who does the job.  Lastly, they are a tight knit community that believes in trust and loyalty from members and customers.
            Japan has a much more closed society that is still being governed by older generations that believe it should stay closed.  There are no real university incubator systems to help entrepreneurship or entrepreneurial programs.  There is no real support from public or private investors but there seems to be some talk about the future of these types of investors.  The biggest emerging Japanese market is in the manufacturing of video game consoles and the software for them.
            Besides the surveys that we spoke about previously, two speakers gave us more insight on our thesis than anyone else.  It just so happens that one was from Korea and the other Japan.  Mr. Inkwan Cho of Korea and Mr. Iwao Tomita of Japan gave us the most insight into our research.
            We found out from Mr. Cho that the Korean market was not nearly as mature as the Japanese market but it was quickly growing.  Since there is a lack of venture capital in Korea, most funding is done through the Business Incubator program run by the government.  Of the $70 million dollars invested in this market for new ventures the government supplies over 40%.  He also spoke about the two largest companies in Korea, Samsung and LG.  He believes that there is too much dependence on their supply chain thus limiting the growth of outside sources.
            Many of the speakers and interviewees from Korea believe their people to be more individualistic than the Japanese.  Our interview with Chansuk and our speaker Mr. Cho both feel that their countrymen are more spirited and often more willing to be different.  This leads them to believe that they are much more suited to be entrepreneurs.  Another reason is that unlike Japan, Korea does not offer lifetime employment to its workers.
            Mr. Tomita gave us a very different insight.  Though he believes that Japanese people are more rigid in their beliefs, he feels that times are changing.  Over the next 10 years he thinks that his people will become much more individualistic.  He believes that Japan should be the leader of the Asian business market.  He also believes that they must lead the way for Asia.  He told us that the Japanese government needs to get more involved in helping create new business.  The venture capital is even lower in this country than the previous.
            From Mr. Tomita, we learned that the Japanese banking system is in need of a drastic overhaul.  His goal for the near future is to create a governing body much like the SEC in the United States.  He doesn’t think that the government does enough to police the companies that are already large and prosperous.
            What we learned as a group from all of our speakers, including those above, is that these two countries are not very far apart in their approach and percentage of entrepreneurship.  We believe that Mr. Tomita hit the nail on the proverbial head when he told our group that the word “Entrepreneur” in Japan means a very large and successful organization like Toyota.  The Japanese do not believe they are entrepreneurs by merely starting their own company.  They believe that they must be large and powerful to be successful and consider themselves entrepreneurs.  From the surveys and the speakers, we feel that these two countries are much closer to 20%-30% entrepreneurial activity than the numbers provided to us by the GEM report but have very different ideas and methods for achieving entrepreneurial success.

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blogToday is our last day in Tokyo.  After a quick breakfast at the hotel restaurant we set out to meet with our entrepreneur.  Gabe, Fekade, and Jason had scheduled a meeting with Kenji Hiranabe for 9am this morning at his office. We took a short ride on the subway, and then walked a few blocks to the Shinjuku-Mitsui building located in downtown Tokyo.  Kenji is the President and CEO of a software company called ChangeVision.  The company produces a software package that is similar to Microsoft Visio, but is not yet available outside of Japan.  ChangeVision was founded in January of this year, but there are already more than 100,000 users in Japan using their software.  The company has several offices in Japan, and one in China.  They are currently attempting to enter the market in China, and would also like to find a distributor in the United States.  The company has a 3-year plan with an exit strategy of being sold to another company or a private investor.  If that doesn’t happen, they also have a 5-year plan to take the company public on the Japanese Stock Exchange in order to boost their equity.  We interviewed Kenji for about an hour, documenting the entire event with the digital camcorder.  He left us with the following parting words regarding operating your own business, “talk with people with honesty”, “consistency is the most important thing”, and “talk with people with your heart”.  At the end of the interview, we presented Kenji with one of our GSU Asia Study Trip shirts, took several still photos of him with our team members, and thanked him for his time.

blogWhen the interview was over, we walked back to the subway station and made our way back to the hotel.  We spent the rest of the morning working on various deliverables, and preparing to leave for Kyoto.  At 2pm, the entire group boarded the bus and left for Tokyo Station.  The station was massive and filled with a literal sea of people, but we finally made our way to the boarding area for the train.  The train was the Shinkansen series 700, more commonly referred to as the “bullet train”.  This particular model train is capable of reaching a top speed of 187mph.  On the inside the train is very comfortable and spacious.  When riding it, you get no sense of its speed except for the landscape that is flying by in the window.  The trip from Tokyo to Kyoto is about 320 miles, but it only takes 2 hours and 20 minutes.

blogAfter arriving in Kyoto, we took a short ride into the center of town to spend the night in a traditional Japanese dwelling at the Ryokan Inn.  The rooms featured traditional style seating and beds, raised and padded floors, sinks and bathrooms that are separated, sliding wooden doors to separate sections of the room, and period wall coverings.  The rooms also featured many modern amenities such as; electricity, running water, air conditioning, telephones, and small televisions.  The sleeping arrangements were large pads that are placed on the floor during the night, and then folded and stored in closets during the daytime.  The pads are very comfortable, and I got one my best nights of sleep on the trip during the night we spent here.

After settling into the hotel and resting for a while, we decided to go out and explore the local area for a bit.  There is a large shopping area that was only about a block from the hotel that we walked to.  The shopping area encompassed many city blocks, and had stores with about any type of item you might be looking for.  We spent several hours looking around the various shops, and then got some dinner before heading back to the hotel.  Shortly after returning to the hotel, I went to bed.  The schedule has been pretty hectic, but we are having a wonderful time and everyone is still in great spirits.  Tomorrow we leave for Osaka, which will be the final day of our trip before we return to Atlanta.  Until then…

 

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Every one was on the bus by 8:30AM and Karen gave her presentation on the art of making Sake on our way to JETRO. Sachi Also did her presentation on how Japanese society uses blood types the same way horoscopes are used everywhere. We arrived early at the Japan External Trade Organization (JETRO) and as the bus stood at the door, Allision gave her presentation on Sumo.

JETRO’s main goals are

  1. Promoting foreign direct investment (FDI) into Japan
  2. Assisting Japan’s smaller firms
  3. Facilitating economic growth in developing countries
  4. Helping foreign firms enter the Japanese market
  5. Supporting the economic revitalization of Japan’s regions
  6. Helping Japanese firms expand overseas and aiding efforts to protect intellectual property
  7. Supplying Japan with foreign economic information

 

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At JETRO, Mr. Dai Higashino, a Japanese economic adviser, made the first presentation. He explained to us Japan’s experience with bubble economy resulted in an excess of employment and capacity.

Mr. Dai Higashimo explained the reason for the low entrepreneurial activity in Japan.

  1. The mechanism linking capital and technology did not exist.
  2. Start-up cost is very high
  3. Sources of financing were scarce.

For example, stock companies were required to have 10,000,000 paid in capital. Between 2003 and 2006, a series of laws were enacted to make it easier for entrepreneurs. Mr. Higashimo also mentioned that a major in Entrepreneurship does not exist in Japan although some business schools offer courses in Entrepreneurship.

A question was asked about Japan’s declining population of Japan and its impact on Entrepreneurship in Japan. Mr. Higashino mentioned that there are three critical inputs to any economic activity.
1. Labor Input
2. Capital
3. Productivity
In the absence of an increasing labor source and scarce capital, Japan’s focus has been on increasing productivity as critical part of maintaining its competitiveness. To this end, the Japanese government has been concentrating on increasing productivity through science research and development as well as development of human resources.

Another question was asked about bankruptcy and its effect on Entrepreneurship in Japan. Mr. Higashino explained that owners guarantee the capital of their company and if a company goes bankrupt, it would be extremely difficult for the owner to try a second time. There is also a social stigma attached to the owner of a bankrupt company as failure. Therefore there is a huge pressure to have a successful company. This pressure dissuades a lot of people form considering entrepreneurship.

The next speaker was Mr. Shigeru Kuwabara of the Invest Japan Business Support Center (IBSC). He briefed us on Japan’s ICT Market. Japan’s ICT market is concentrated in four areas. These are

  1. Communications infrastructure. E.g. Optical fiber, xDSL, etc
  2. Game machines. E.g. Nintendo, PlayStation
  3. Software. E.g. Game, cartoons, animation, etc
  4. Hardware manufacturing. E.g. Mobile phone, CDMA, etc

There are six IBS centers in Japan: Tokyo, Yokohama, Nagoya, Osaka, Kobe and Fukoka. These centers “develop foreign investment promotion plans, identify promising foreign firms to invest in Japan, and provide information and consultation to suit the individual needs of foreign companies.”  The IBSCs provide a business library, free staff support, meeting rooms, and office space for foreign companies interested in creating a company in Japan. There have been over 200 companies that have used the free facilities of IBSCs.

Mr. Kuwabara mentioned that Japan’s banking system and the investment climate are not conducive to entrepreneurs. But the new corporation law of may 2006 goes a long way in remedying the problem faced by entrepreneurs. 

A question was asked about women entrepreneurs and Mr. Kuwabara said that women entrepreneurs are more prevalent in the ICT market than other fields. He also commented that Koreans are a lot more aggressive about business while the Japanese are more conservative.

During lunch, Jim met one of the tenants of JETRO, Jason Reese from bambooinc.com, and invited him to talk to the class. He told us about his experience in Japan and how he uses guerilla marketing to sell the yellowtail wine from Australia. He graciously offered a bottle of yellowtail wine to the class.

After Jason’s presentation, Eric did a presentation on Korean and Japanese music. He gave us interesting perspective on Japanese Rap and how the Japanese rappers have incorporated the US style. Ramesh followed by talking about Japanese and US business practices.

The next scheduled speaker was David Mori, an expatriate entrepreneur from Vancouver Canada. He is the founder of EnglishOK! as well as the “Entrepreneur Association of Tokyo”, a non-profit organization. He gave us the following statistics, which contradicts the central point of our thesis for this class:

  1. There are 6.2 million companies in Japan
  2. 5 million of them have less than 10 employees
  3. 98% of all businesses are small businesses
  4. 90% of new businesses fail.

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Mr. Mori contends that the level of entrepreneurship in Japan is in the 10-15% range rather than the 2% that was given by Babson College. The difference he thought may be explained by how entrepreneurship is defined in the US and in Japan.
Mr. Mori also gave us an explanation of the old and new corporate structures in Japan.
Old

  • Kojin Jigyo – Private company
  • YK – Yigan Kaiso (Limited Liability)
  • KK – Kabushiki Kaisha (corporation)

New ( as of May 2006)

  • GK – Godo Kaisha
  • JSKK – Jotoseiga
  • KKK – Kokai Kabushiki Kaisha (Public, similar to previous KK, three directors and one auditor, reporting and compliance required)
  • YSJK - Yugen Subinin Jigyo Kumiai (Limited Liability partnership)

Mr. Mori talked about financing a company in Japan. The most common way of financing a small company was from savings and/or family and friends. Bank loans are not common at all for startups and angle groups are not very active in Japan. Venture capital exists and is very aggressive but it is geared towards small to medium sized companies that are IPO candidates.

The parting advice Mr. Mori gave us was to understand the culture and to network. Networking is key to doing business in Japan.

The last speaker for the day was Mr. Eric Williams of REIA (Representatives for blogExporters and Importers in Asia), an YK company. He was the perfect example of how networking creates opportunities. He said that REIA was possible because of his personal relationships with manufacturers and his location in Japan and Asia.

 

The day ended with a great dinner at the American club of Tokyo. Our host was Mr. Iwao Tomita, founder of Deloitte Touche and Tohmatsu. He earned his MBA from the Wharton Business School at the University of Pennsylvania in 1963. He then sent up the Tokyo offices of Arthur Young & Co following a year of management training in New York. In 1968, he set up the first nationwide audit corporation, Tohmatsu Awoki & Co. In 1975 he became a board member of Touche Ross International. When Deloitte Haskins & Sells and Touch Ross merged in 1989, he was appointed to the Board of Governors for Deloitte Touche Tohmatsu, then later as a senior partner and finally his present position.
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Mr. Tomita reinforced Mr. Mori’s point that there are a lot more entrepreneurs in Japan than what we believed at the beginning of this course. Mr. Tomita defined entrepreneurs as people who found a company and turn it into big business. The examples he gave were Sony’s founder Akio Morita and Honda. If indeed entrepreneurship is defined as creating a major corporation, the number of entrepreneurs will be low as the Babson college survey shows. But if all the small shopkeepers and pop and mom stores are included, as is done in the US, then the 2% figure given by the survey is too low. As David Mori said, the percentage of entrepreneurs in Japan may be in the 10%-15% range.

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We are still in Tokyo today.  We started out the day with a western style buffet breakfast in the hotel restaurant.  It consisted of bacon, sausage, pancakes, potatoes, eggs, milk, and coffee.  We all enjoyed our breakfast and spoke about the previous days events and what still lies ahead of us.

After breakfast we met at the tour bus and headed out to begin our new day.  We took a short bus ride to the other side of Tokyo to visit the Meiji Shrine.  The shrine is dedicated to the souls of Emperor Meiji and his wife, Empress Shoken.  Emperor Meiji died in 1912 and Empress Shoken in 1914.  After the deaths of the Emperor and Empress, the shrine was constructed to venerate them.  Their souls were enshrined on November 1, 1920. The original shrine was destroyed during World War II.  The shrine that exists today was completed in October 1958.

When our tour of the Meiji Shrine ended, we walked down to the Harajuku District.  This is a large shopping / tourist type area that draws large crowds on the weekends.  There is also a large contingent of local youths that frequent the area to express themselves.  They wear colorful clothing, various accessories, and sport some very interesting hairstyles.  They seem to lean pretty heavily toward punk rock / gothic theme.

Next we took the bus back to the hotel.  When we arrived, everyone went up to their rooms to rest for a while.  At 2pm all of students gathered in the hotel lobby for a class meeting.  After the meeting our group spent the next four hours working on some of the deliverables for the trip.  We finally decided that it was time to take a break and get some dinner.

We headed down to the subway station and jumped on a train bound for the Shibuya District of Tokyo.  Once there, we agreed to eat at the Hard Rock Café.  I had the bacon cheeseburger, and it was very good, plus some chicken tender appetizers that I would highly recommend.  After we finished eating, we stopped by the Hard Rock Café store to pickup a few souvenirs to take back home with us.

We headed back to the subway to catch a train back to the hotel at this point.  After arriving back at the hotel, everyone said goodnight and retired to their rooms.  When I got to my room, I sat down at the computer, checked my e-mail and made some notes about the days events.  As I finally lay down in bed, I thought to myself what new and interesting experiences await us tomorrow…………

 

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Hello everyone and thank you for joining us…

Today are lucky and honored to have the opportunity to add a blog from one our loved ones.  David requested that his pregnant wife tell us how she has been coping with her husband being 10,000 miles away and we are lucky enough to share such her experience with our readers.  

entrepreneur blog“David asked me to write a little about this study abroad trip from the perspective of a loved one.  Usually I am thrilled when David is out of town; I get the house to myself for a few days.  But this trip is different.  He is much too far away, and for much too long.  I’ll admit that I cried when I dropped him of at the airport on Saturday, but I will blame that on the hormones from being pregnant.  Don’t get me wrong, I am very excited for David.  This trip is an incredible opportunity and I know he has been looking forward to it for along time.  The first day was the toughest; I wasn’t sure when I would get any type of communication from David.  The flight was very long, and I worried the entire time.  It was very reassuring when I received an email on Sunday morning letting me know that everyone arrived safely in Seoul.  Then I began to wonder if David was enjoying the trip.  Was everything living up to his expectations?  Was he having a good time?  Getting enough sleep?  I am glad that it has been a hectic week at work for me, so I haven’t had too much time to worry.

I spent Monday being obsessed with email; I probably checked it every hour.  Then I would check the website to see if there were any updates and I carried my cell phone with me everywhere – just in case David called.  By Monday evening I signed up for an alert on my cell phone whenever a message from David arrived in my inbox so I could give the computer a break until I received an alert.  Every time I have looked at the clock this week, I immediately do a mental conversion of the time so I will know what time it is in Korea or Japan (luckily they are the same).  I have enjoyed checking the website itinerary to see what the group is doing at any given time.  Currently it is 3:30 AM in Tokyo, so everyone is probably asleep.  I know that when David called me at 8:30 this morning Atlanta time, that he had just gotten back to the hotel after having dinner with John Evenson, CEO of the Catus Group.  I even know what he probably ate for dinner.   I have found the website very helpful and I have really enjoyed reading each group’s blog so I feel like I am getting a taste of what everyone is experiencing.  I check the website a couple of times a day to see if there are any new pictures or if any of the blogs have been updated.  I have also enjoyed the emails I have received from David since at this point I am anxious to hear every detail of his trip.    The few phone calls I have received have been like sacred moments and I savor every word just to hear the sound of David’s voice.  The calls are way to short, but I am happy for every second that we can talk.

Yesterday was pretty scary after the news broke of the foiled terrorist plot against planes from London to the US.  I immediately began to wonder how much international news David was able to get while in Seoul; and how much of it would be in English.  I also wondered what effect this would have on the trip.  Were the airports in Asia taking the same type of precautions as the US, England, and the rest of Europe?  The story was making the news here only about 12 hours before the group was leaving for Tokyo.  Then I prayed that the terrorist weren’t targeting any planes in Asia.  I was overjoyed to get a phone call from David this morning and to know that he had the same strict security at the airport for the flight from Seoul to Tokyo and that everyone is now prepared for the security for the flight home. David didn’t seem worried, but I also know that he wouldn’t tell me if he was.  I guess he figures that I will worry enough for the both of us.  At this point, David has been gone nearly a week and I am ready for him to come home where I will know he is safe.  I miss him terribly and Thursday cannot come fast enough….”

THANK YOU SAMI!

Today is Saturday here in Tokyo and we are set for our day of exploring.  We got started about 9:00 am and quickly learned that we are in Japan during the mass exodus.  As it would seem we are here during their summer break.  We were supposed to head to go on boat ride but since there were so many people on the express way it would have taken 3 hours to get there and 3 hours to get back.  None of us were up for that long a drive.

Since there is so much to see here in Japan, we did the next best thing.  We went to Kamakura to see what I think is the largest Buddha statue in the country.  It was something to see!!!  Some of the group immediately went shopping, which seems to be quite a past time with this crew, and the rest of us enjoyed the sites and serenity of the surround grounds.

The wooded garden surrounding Buddha was beautiful and enchanting.  There were prayer stones in every corner with other monuments filling the walkways.  In the far back corner was a souvenir shop where a couple of us purchased gifts for our loved ones.

After leaving Buddha, we took a short trip to the Meiji Shrine in Harajuku.  We walked toward the shrine and came to a place where we were told people come to bless the vehicles they purchased.  A little further up the road we hit the stairs to the shrine.

Once in this place of worship and prayer, we were given instructions on how to pray ourselves.  The procedure is to clap throw in an offering, clap twice, make a wish and then bow twice.  David and Allison decided to give a go.  We threw in 10 yen each, clapped twice, made our wish, and then we bowed twice.  We both hope it all works out…

After the shrine the four of us, Jason, Fakade, Allison and David split up and went our separate ways.  Each of us had different things to purchase so on we went to shop in the city beneath the shrine.  We all ate and drank and shopped for almost 2 hours before heading back to the bus. 

This pretty much completed our day.  Once back at the hotel in Tokyo, we were given time to catch up on our academics.  Time well spent for our team…

 

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Korea was breath of fresh air, but the time has come and we all must travel to the land of the rising sun, Nippon (Japan).  We awoke very early due to the recent possible threats of terrorism across seas to make sure we had enough time.  While some scrambled to last minute pack others ate breakfast before we reached the airport.  Our group was then split momentarily as was group 2 because Gabe and Adrian had to take a separate flight.  As shown below even in leaving Korea the Asian Hospitality was still present w/ Gabe making friends with some very friendly flight attendants. (Picture Below)
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When we were landed and the groups were all made whole again we were ready to embark on a new journey into the land of the rising sun, with the help of our guide Kaneko-San.  As we traveled to the hotel we could do nothing more but take in the beautiful landscape of this new and mysterious land.  Before we reached the hotel we still all made time to do some sight seeing and take some amazing pictures (some can be seen on our front/home page).  Once back at the hotel we all got freshened up and ready for our dinner and meeting with entrepreneur John Evensen CEO of the Cactus Group.  (Picture Left: Listed from left to right, Gabe Heslop, John Evensen, Jim Beach, Nick Tilford, and Dave Poppel)

blog japan koreaWe listened to him talk about his business as an entrepreneur, Japanese business culture, and he even took the time to answer many of our questions, all while we enjoyed a delicious authentic Japanese meal.  (Picture Below, Yummy!)

When the dinner was all said and done we were not only enlightened but also full (for the most part).  Our First night in Nippon was great and we were all grateful to be able to enjoy the experience together.

 

 

 

 

 

 

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Please click here to view our Summary Slideshow of Korea

Today was our first free day.  The first day we could sleep in.  The first day we had to buy our own food.  The first day with no required meeting time.  We slept late compared to recent mornings.  Not wanting to eat the same breakfast provided by the hotel, I decided to go to a bakery called Paris baguette.  It was nice to have a little taste of france after so much Kim Chi.

We had a meeting with our entrepreneur at a bout 10:00 a.m. this morning.  Allison, Jason, and David met with Changsuk Lee.  We were able to secure the meeting with the help of his sister Thai, David’s boss.  We didn’t know what to expect at first but once we started, the interview went quite smoothly.

Fekade had a very important trip to the US Embassy to pick up his replacement passport.

Changsuk was the perfect guest; he was polite, informative and very willing to answer all of our questions. He has his undergrad from Korea in Metallurgical Engineering, while his post grad work was done in France.  Before he created his own businesses he worked for Boeing in Seattle and Merrill Lynch in London.  We were lucky to have a chance to interview someone with such a diverse background.

The interview flowed easily and comfortably.   Question after question was answered without a break for an entire 1-½ hours.  We found out more information than we thought we thought we would.  Some of the information was about business with Japan and some about his dealing in China.  Changsuk  is very tapped in to Asian market.  He has started 3 companies, a telecom firm, a consulting firm, and lastly an investment firm.  All of these business had some success, none failed to the point of bankruptcy. 
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Changusk has 3 sisters, all of whom are older.  He discussed his entrepreneurial disposition with us and credited his mother with giving them the free spirit to create and develop this type of life style.  He gives the mst credit to his sister Thai Lee, she owns a $2.5 billion privately owned American company.  He is the youngest of 4 with 3 older sisters.  The chance to meet Changsuk is something that we will not soon forget and it was quite an honor.

 

Jason’s Afternoon
This afternoon I decided to venture out on my own for a while to explore the area surrounding our hotel and do a few more questionnaires.  A few blocks from our hotel was a large retail area filled with many stores selling various types of goods along with many different restaurants.

I decided to eat lunch at a pizzeria that I found called Pizza Etang.  After I had been in the store for about 5 minutes, I realized that no one who worked there spoke more than a few words of English.  All of the waitresses were acting very giddy, and seemed to be a little nervous / excited about taking my order.  After trying to explain to the waitress what I wanted, using English, I ended up just pointing at the item I wanted on the menu and nodding yes to verify.  Before my pizza came, I was able to show my waitress one of the questionnaires and get her to fill it out.  Shortly after that, she brought my pizza.  It was very good, and I would highly recommend it to anyone who ever visits this area of Seoul.

Next, I set out to get some more questionnaires completed.  Most of the people I approached were very willing to fill out one of them; I only had 2 that refused me. Only one of the people I interviewed spoke more than a few words of English.

On my way back to the hotel, I stopped by a couple of local video stores.  It was interesting to see the differences in the way video stores operate in South Korea vs. the U.S.  The selection of movies was pretty much what you would find at your local video store, but the rental process was a bit different.  At these video stores, you can rent a movie, but you cannot take it home with you, and you cannot buy a movie.  The stores have 15 or 20 small viewing rooms where customers can watch the movies while you they are there.

It is a truly unique experience to be in a densely populated area where you are unable to have any verbal communication with virtually everyone.  I was able to get by for a few hours, but it’s easy to envision how difficult the language barrier could become for any length of time.

Allison, David, and Fekade’s Afternoon
After our excellent and insightful interview we decided to hit the streets and interview locals while taking care of our shopping urges.  Those friends and family reading this blog, get excited.  We put a big dent in our pockets buying gifts.  We went to this area of town called Itewan, which is a large outdoor shopping area.  There are many leather shops, fake and real purse shops, clothing and souvenir shops.  There are many things to learn before going to Itewan.  Itewan is a popular place for Americans to shop.  It is not a tourist trap but supposedly they will take US bills and most of them speak and understand English relatively well. Itewan is also a place to practice ones negotiation skills. 

Dave gave us a brief lesson on the rules of negotiation for this type of situation.  1) Know the maximum you are willing to pay, 2) Be prepared to walk away, 3) Always begin negotiating below the price you are willing to pay.  We stopped by Subway to grab a bite before we hit the street.  It was hot and muggy out and the little shops rarely had air condition.  I wonder how the shopkeepers do it all day.  They must be conditioned for this type of weather.

After shopping we came back to the Life Style Hotel to work on our projects and get ready for dinner.  Dinner was at another traditional Korean meal except this time we got to sit in chairs.  Thank goodness.  As Americans we are just not use to the floor.  This dinner was to be our farewell dinner to say goodbye to Daniel and all the people who helped us get around Korea so smoothly.  We started off with one last speaker for the week. 

Mrs. Kim spoke to us about her educational childcare business.  It was interesting to hear from a Korean female entrepreneur.  She talked about the issues surrounding her business in conjunction with running her family.  Mrs. Kim was very inspirational for any female entrepreneur with second thoughts on running a business in addition to a household. 

The rest of the evening was very pleasant.  We gave parting gifts, took pictures and said our good byes to our newfound friends.  Then back on the bus to start packing for our early morning plane ride.

Thursday, August 10, 2006 with Gabe

At first not being with the rest of the group for the initial flight was rough, and missing my first day was ever harder… But personally I believe everything has it pro’s and con’s.

After being in South Korea for two days, I along with everyone else was tired and as always, hungry.  While some ventured off into the city going to McDonalds or TGIFriday’s and elsewhere, I chose to stay at the hotel for my meal, little did I know the things I would encounter within the next couple of hours would help to shape my view of South Korea forever.

Being a Hospitality major I truly wanted to see what he hotel had to offer besides nice rooms, so of course, I went to Happy Hour!  While there I had some delicious Cass Beer and waited for my meal while chatting with the manager, there’s more about him later…

When I my food arrived I wanted the wings to be more crispy so like an entrepreneur I told myself that if I didn’t ask for it I would not receive it, I asked very politely and even apologized for any inconvenience and I was told it would be no problem because it is there job, not bad to start.  While waiting for my food I encountered some simply lovely people.  Within minutes we were talking and/or communicating like old friends, they even left for awhile came back and brought some snacks and they were more then willing to offer and share, I could tell they were shy because they didn’t speak English very well but when they saw that I was opening up so they did as well, with much thanks to Cass Beer…

Even with a language barrier they made me feel like family, which we learned in class that Korean Culture is all about the family.  Listed from left to right is Tu Liyu pronounced Two-Lee-U or American name, Annie: She is a tour guide for Selin Travel in Korea, then myself, Lee Jae Yul or American name, Kevin: He is the photographer for their group, and finally Wong Shuk Han or American name, Seven: She is a travel guide for Hong Thai Travel in Hong Kong, China.  I had such a nice time talking and hanging out with them asking them about themselves and vice versa that I simply had to take a picture to commemorate the occasion.         
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            Once they left my night was yet to be done, still high off of life and such an amazing interaction the manager on duty and I simply began to chat as if he and I were also long time friends.  He showed me pictures of his wife and baby girl, he told me about how he works a 24 hour shift with a break between 12:00 am and 5:00am and that he must work this much because he lives with his wife, child, and both parents and he is the only one that works because this is simply the way in Asian/Korean Culture.  He even told me of his dreams to someday become the manager of an American hotel and we joked about how he would probably get a better schedule.  He and I are below, and he even took a picture of us on his phone and gave me some bunny ears, I’m glad he felt comfortable enough to want a picture with me as much as I with him.  
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Last but not least, through out my whole time in Korea there was a person that I can truly say I will miss, her kindness to me was beyond the call of duty and she had even offered to take me out and around the city after working one of those 24 Hour shifts (19 hours not including break) I was unfortunately not able to go but for the conversations that we had and the personal information that we shared I will always remember this beautiful person and kind young lady… She was one of the desk receptionists and her name is Insuk, I do hope that she knows how my life was touched by her kindness.  Later on that night she even let my group and I print our surveys on there computer for free and much more then she was probably allowed to but being cool with the manager I am sure it would not have been a problem.         


With such an enjoyable night behind me and a new day ahead of me I was glad to finally get some rest but as my head touched the pillow my view of South Korea and its people were forever shaped, with such pleasant thoughts I couldn’t wait start my next day.

 

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Our schedule was full today. So the day started for us with a nice caffeine shot from Starbucks. Oh yes, there is a Starbucks within a block of our hotel and it seems on every other corner of downtown Seoul. In fact, the whole group of students was going oooh and ahhhh with every sighting of major American restaurants and other companies as our bus hurtled through a major downtown boulevard on our way back form Jeonju city yesterday. The presence of Baskin Robins surprised many as we were told that the Koreans are not big on deserts and that were not likely to see ice-cream on our trip. That quickly cured the misconception that Seoul is not a world-class metropolis.

On our way to the Seoul High Tech Venture Center (SHTVC), David did a presentation on Japanese prewar history and Andrea did her presentation on the New Look of Japanese TV Commercials. Both were well prepared and presented.

The Seoul High Tech Venture Center (SHTVC) is part of the Seoul Business Agency (SBA) that "provides Seoul's high tech SMEs with opportunities to develop as advanced enterprises." These include different industries such as IT, Biotechnology, fashion, animation, etc. There were two speakers at the SHTVC whose companies were supported by the SBA. There was also a third speaker, Mr. Chris, from the SBA who gave us an overview of how the government works with private startup companies.

blog The first speaker was the marketing director for Chips & Media, a fabless semiconductor company with 75 employees that specializes in video technology. He explained their business model as IP providers in fast moving markets and Chip set vendor in mature markets. The company differentiates itself through technology. Where as most firms are either pure hardware or pure software producers, Chips & Media combines the two by starting with hardware and following up with software later. The strategy used for gaining competitive advantage is to start up with cheap chips and move onto larger ones that are more expensive to research and produce. 

The second speaker was the CEO of Xonda.net - a reverse auction site. Unlike other auctions where the seller or the buyer accept prices they don't like, Xonda.net's model guarantees that both sellers and buyers get the price they want. The difference between the two, then, is paid by bidders who pay a certain amount to see the current bid price. If they like the price, they can buy the product for that price. If not, the next bidder will see the price drop by the amount the previous owner paid to see the price. In some cases, an advertiser may pay this fee so the price may drop automatically.

Both the above companies were supported by the SHTVC in their startup period. The SHTVC provides specialized infrastructure for startups. It helps in developing markets in Korea and overseas. It also provides training courses and consulting support.  It is organized around business planning, business incubation and business education.

blogOnce we finished our meetings at the SHTVC, we headed on to the Hoseo Graduate School of Global Entrepreneurship. We arrived a little early so we headed to the Korea Arts Center across the street. We were going to walk around the grounds which Daniel described as "Beautiful". Unfortunately, the summer heat & humidity was unbearable. We were able to take a group picture in front of the fountain before everybody run inside to the nice, cool, dark and air-conditioned cavern of the opera house. While exploring the Korean Opera house we realized that they were in the middle of a musical run.  They were presenting Mama Mia.  We thought it would be a great opportunity to experience some more culture.  As it turned out 5 of us decided to take on the show.  For the price of 80 Won each we got box seats.

After securing the tickets, we headed back across the street to a restaurant next to the graduate school where we had another great kim-chee moment.
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At the Hoseo Graduate School of Global Entrepreneurship, we again had three speakers. The first one was Mr. Inkwan Cho from Hoseo Venture Capital. Mr. Cho gave a very informative lecture on the role of local venture capitals and more relevant to our trip, the differences between Korean and Japanese venture capital practices. blogThe main differences relate to the fact that Korea is heavily focused on manufacturing and hardware sectors while Japan invests in service industries. Koreans are also a lot more dependent on a couple of companies' (Samsung  & LG) supply chains. Also, as we have found out throughout our trip, the government has a much larger and critical role in Korea.

The next speaker was Mr. Ki Rak Baek, a young motivational speaker who has created the Korean "internet community" website www.creven.org. Mr. Baek told us how he had failed in three business ventures before he succeeded with creven.org. blog
Mr. Baek mentioned that Korea has 10 million people i.e. 1 in 5 person, that are regular Internet, He also mentioned that Koreans would rather send SMS on their mobile phones than make an actual phone call or use IM while sitting next to each other instead of talking. His Internet community consists of 60,000 members and has been growing at 100% in the past two years and he projects that it will continue to grow at the same rate into the foreseeable future. He claims that his success comes from the fact that his members trust him.

Finally, Daniel (Hyun Lee), who has been with us throughout the trip, told us about himself and Korea. He started out by showing us a video about Korea. Then he explained some of the differences between Korean and Japanese culture. He mentioned that many of the qualities of the Japanese people were shaped by the fact that they were an island nation and that "Peace" and "Harmony" were the most cherished values. blogThis has led the Japanese to be more reserved, individualistic and less prone to invade personal spaces. In contrast, the Koreans value "originality" and "Orthodoxy" which has led Koreans to be outgoing, direct and less worried about personal space. Daniel also told us that he was a graduate student at the Hoseo Graduate School of Entrepreneurship and that he has a business in media advertising. "I am not a tourist guide!" he smiled. The funny thing is, all this time, I thought he was one!

Around 6:30 the 5 students and Jim headed out to the Mama Mia show. The show started at 7:30 p.m. and when it did we were quite surprised.  In our naiveté, we figured that the music would be in English since it was an English production.  Boy were we wrong.  After a couple of minutes of ABBA in Korean we realized that they did provide subtitles.  Throughout the play, we had to keep looking up to see what was being said.  This did not diminish the show whatsoever.  The actors on stage bounced around with more energy and enthusiasm than a 3 year at a birthday party.  They were absolutely marvelous.  The _expression of dance and song warped the language barrier.  The grace and energy with which the actors performed was unparalleled.  This is an experience that I would recommend for anyone coming to this country!!!

 

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blogToday we awoke in a traditional style Korean home in Jeonju City. Shortly after getting up, we got to view some television footage of our group on the early morning local news. The footage was filmed by the local news media the day before when we first arrived in town. Right after that, one of our guides brought us several copies of the morning edition of the local paper to show us we had made the front page.

After the entire group gathered in the center section of the traditional homes, we took a short bus ride to a Buddhist shrine located in Jeonju city.   We were given a tour of the shrine and told about some of its historical information. 

blogAfter our tour of the shrine, we went to a local Korean restaurant to eat breakfast with some of our tour guides. We were introduced to the owner of the restaurant, who is a female entrepreneur. After we finished eating, we were informed that the owner wanted to show us her private collection of artifacts that was off limits to the general public. We were taken to a room located in the back of the restaurant that was filled with various Korean historical artifacts. Before leaving, we took several photos of our group with the restaurant owner.

As we were boarding the bus to return to Seoul, one of our guides stopped by with gifts for each of us from the mayor of Jeonju. The gifts were sets of traditional style Korean handheld fans that were made locally by the Jeonju Minosk Handicrafts Company. We thanked everyone for their graciousness, hospitality, and the wonderful time we had during our visit to their city. As our bus pulled away, the owner and staff of the restaurant stood outside and waved goodbye to us as we began our trip back to the capital city.

During our bus ride back to Seoul, we stopped at a rest area / market to take a short break. Some of the group members found a couple of ATM machines, and even though it was difficult to read some of the onscreen menus, we were able to withdraw local currency from our U.S. accounts. This really provided an example, to me personally, of how well societies throughout the world are interconnected. We were also able to purchase some traditional style American junk food snacks at one of the stores to help ease us through the remainder of our ride.

After arriving back in Seoul, we dropped our tour guides off, and then proceeded back to our hotel. One of the first things some of our group members did was head down the street to the local McDonalds for a traditional style American lunch that so many college students are used to having. It would only be about an hour until we headed out on the next leg of our journey for the day.

At 2:30, we boarded the bus to take in a bit of cultural touring for the afternoon. We traveled to Kyongbok Palace to take a guided tour with a larger group people. The palace is from the last great dynasty that lasted from the 13th century to the early 20th century. The architecture consisted of traditional style Korean dwellings from the last great ruling class. It was a very beautiful place to behold, the architecture was amazing to see in person, and the attention to detail in construction throughout the palace was truly a sight to see.

blogAfter the palace tour we took the bus back to the hotel. We were all exhausted from being in the extreme heat during our outdoor tour of the palace. So, everyone rested for a while, got cleaned upped, and changed in preparation for a night on the town. Anyone who was interested, had agreed to meet in the lobby of the hotel for an evening of eating and shopping in the Itewan district of Seoul. Most of the group met at 7:30 and then proceed to walk several blocks to the subway station.

When we arrived at the train station, the group was presented with the next in our series of challenges. We needed to figure out how to interpret the railway map in order to get from our location to the Itewan district. After much debate, we were able to decide which ticket to buy, and which train to get on.  We rode on the railway system for about 30-40 minutes, during which time we switched trains several times, but finally through much effort and collective brainpower within the group we arrived at the Itewan district.

The Itewan district is a massive monument to consumerism with many places to eat, and a large selection of various specialty shops containing many different items. We split into 2 different groups and began to explore the area. Our first stop was a bar / restaurant where we stopped to relax for a while and reminisce about the events of the past few days. After that, we visited several other local establishments before meeting up with the other members of the group. At this point we all decided that it was time to get something to eat. We found a bar / restaurant that served western style food. We spent several hours there eating and doing some camaraderie building among the members of the group. When everyone was too tired to continue, we decided to head back to the hotel.

After a cab ride that lasted about 30 minutes, we arrived back at the hotel.  From this point everyone headed to his or her respective rooms. I was completely exhausted after our long day of many different events, and was ready to drop as soon as I walked through the door of my hotel room. We have taken in so much over the past few days that it has been overwhelming at times, but it has also been a truly great and unique experience that is very likely the type of thing that comes along maybe once in a lifetime. Sleep is much needed at this point, so until tomorrow.........

 

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Hello everyone and Thank you for reading our daily adventure…
Today we woke up very early, right around 6 a.m.  I say that this is early because we only arrived last night and we are all pretty much Jet lagged.  In our excitement, none of really slept either.
            The day started with breakfast in the dining room of the hotel.  They prepared hard-boiled eggs, sausage, fruit and cereal for each of us.  It was really quite good.  Little did we know what we would be eating for the rest of the day.  At about 7:30 we boarded the bus for our first meeting and what would turn out to be the busiest day of trip, at least we hope so.
            At 9:00 a.m. we arrived at a company called SungWon Edwards Ltd.  They build industrial strength vacuum compressors for high tech companies.  Since we are group number 1 (in more ways than one), we were tasked with video taping the first speaker.  Mr. Kim who happened to be the CEO and Chairman of the company stepped up to the podium and began his presentation.
            In the first few seconds of the video he presented, I think the entire room was a bit shaken and surprised.  We thought it would just be a typical speech about the history of the company; instead we were incredibly surprised.   When the presentation began, no one said a word.  We just watched and listened.  We were brought to the edge of tears by the images we saw on screen and the admiration bestowed upon us.  Mr. Kim had honored us with a memorial of the Korean War.  His praise was for the United States and the true partnership and brotherhood that we provided his country in their time of need and desperation.             
            He told us that when he was a boy, his family had been refugees saved by the assistance of the United States.  He told us that his family was saved because we were selfless, that we lost many lives to save his life and that we preserved their way of life and their freedom.  It was not the way we thought the day would start.
            After the incredible presentation was completed, we took a tour of manufacturing facility.  We were educated on the manufacturing partnership between the Koreans and the British.  They began by telling us that the original time for production was 5 days but through teamwork by the two nations it would take about 5 hours going forward.  A very impressive feat… After the tour, we went back to the conference room and there the Honorable Mr. Kim had given us gifts.  We were very surprised.  At this time David Poppel gave him our gift, a golf shirt with the Georgia Sate University emblem on it. 
            At this point we boarded the bus for our next destination, The Hoseo Univerity, Asan Campus.  The campus looked like a typical U.S. University until you looked up and saw the beautiful mountainous backdrop.  The entire campus was built in the valley of mountain ranges. 
            After a brief introduction to Dr. Hong Kim, the Dean of the school of Global Entrepreneurship, we were brought into the university cafeteria.  It was here that we got a glimpse of the way we would be eating for the rest of the day.   There were a couple of different types of fish and kimche along with seaweed wraps.  For our first real experience with Korean food, we were a little scared at what we were offered.  Regardless of what the food looked like, we tried it and some of even liked it.
            After lunch Dr. Kim gave us a presentation about how he created the Global Entrepreneurial department and how successful it has become since its’ inception.  After his lecture, he introduced us to several of the businesses that his department was funding and told the history and monetary value of each of them.  One of the businesses was a new electronic stethoscope and heart monitor that you can plug in to your computer and send the results to your doctor over the Internet.  We were very impressed with the technology and the perseverance of all the presentations.


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            Soon after the final presentation was completed we boarded our bus and headed for JeonJu City, South Korea.  We got to JeonJu City around 6:30 p.m. and were brought into a court yard at the JeonJu Cultural Center.  When we turned the last corner into the courtyard we were all taken back by the scene in front of us.  About 20 cameras, a half dozen reporters and about 30 people stood in front of us taking pictures.  Immediately we looked at each other and wondered what we were supposed to do.  After about 10 minutes o picture taking we were lead into a traditional dining hall.  Sitting on the floor of the dining hall was a huge bowl of rice, vegetables, and many other things that I am not familiar with.  This bowl is called a Bibimbab, a traditional meal that gets mixed up with your hands.  It reminded me most of grape stomping in the Sonoma Valley.  After the pot was mixed by our classmates, including Allison Abbott and the Mayor of JeonJu City, we were given bowls and ate our first traditional Korean dinner.
            During dinner the rains came and flooded the area pretty quickly.  Since you must remove your shoes before entering the dining hall, they were all wet and dirty.  After dinner with we shoes and going on a 12 hour day we were brought to another traditional location.  It was the home of the last royal family of JeonJu City.  It was also our first vision of our sleeping arrangements.  This consisted of a hardwood floor and a comforter.  Not everyone was please, but as the saying goes, “when in Rome…”
            After setting up our beds for the evening, we were told that we were to have essentially a second dinner were there would be live cultural music. Tired and a bit miffed at the sleeping arrangements, our group of entrepreneurs pushed forward.  We reached the entertainment facility and again left our shoes at the door.  This time underneath the awning...yes we do learn from our mistakes…

            We sat on the floor and explored the food in front of us.  We didn’t quite know what to think other than were is the nearest McDonalds.  Some of us, like Jason McGhee and Fekade Aytaged were a little more experimental.     Some of us wanted to run and hide…After dinner and going on 15 hours we were pleasantly surprised to be introduced to our musical entertainment.  It was worth being up and busy all day.  The expression and emotion in which she sang was extraordinary.  We may not have understood a word she said but we felt everything she meant.  She sang for about 30 minutes and then it was time for bed…or should I say hardwood.   Then the invite…

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            After our entertainment left and we were on our own to do as we wished, the students from Hosea University invited us out for drinks.  How could anyone say not to beer…Luckily for the town of JeonJu were very tired and only had 1 each before deciding to hit the wood…WHAT A DAY!!!!
More to come…

 

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7:30 am - Today seemed to go on forever.  It was always night, never day.  We left Atlanta at 7:30am Saturday morning.  Many of us had not slept the night before in preparation for being able to sleep on the plane.  We got a relatively short taste of what was to come on our 4-hour flight to San Francisco followed by a 4-hour layover.  At this point everyone was doing well and looking forward to our trip.  We had occupied all possible outlets to recharge our iPods and computers and made our final phone calls to our friends and family while still in the US.  I personally tried to stand up and walk around while in the terminal knowing that was going to be extremely difficult once wedged between other passengers while on the plane.  I wished too hard for an isle or window seat and ended up with a seat almost smack in the middle.

All I can say about the international flight is that we made it!!  We watched moved, ate noodles, tried to sleep, and tried to sleep some more.  In my opinion, the flight from Atlanta to San Fran was roomier than the international flight.  We decided that the United Airline tagline printed on all the napkins, “ More legroom than any other US airline“ had very little truth to it.  Maybe United should have only used those napkins for the first class passengers.

As for the food, the flight attendants seemed to know when I was hungry.  Every time my stomach started to growl, here came those rolling metal carts.  The first meal was actually pretty good.  After that all meals and snacks consisted of ramen.  I’m not sure we were prepared to have noodles for what would have been breakfast our time.  It’s probably better that we get use to noodles for breakfast, lunch, and dinner now because I have a feeling we are not always going to have a choice. 

5:30pm - We finally arrived in Seoul at about 5:30pm Seoul time.  We met our bus driver and took off towards our hotel.  The hotel’s name was the Life Style Hotel and was most definitely the most high tech, modern hotel any of us have ever stayed in.  Every room had a large flat screen TV, a Jacuzzi, a computer with Internet access, a talking drink machine, a hot and cold water machine and a sterilizer for our drinking cups.  Oh yes, and a bidet that doubled as a heated toilet and was covered with unreadable buttons.  Those people who ended up using the bathroom first had the job of figuring out how to flush the toilet.  Afterwards each roommate had a story about getting sprayed with water from inside the toilet while trying to flush it. 

I, personally, get excited when surrounded by innovative technology.  Everything in the room including the lights (and some colored mood lighting), TV, air condition, and shower, were all controlled by one remote control.  In addition to the towels that are standard in American hotels we also each got a robe and a pair of slippers.

9:00 pm - After playing in our rooms and pressing all the available buttons we went out on the town to find some food and start gathering interviews from some of the locals.  We ended up in the subway/train station where there were a couple of restaurants to choose from.  Half of us ended up at a Korean barbeque restaurant and the other half went to TGI Friday’s.  TGIF had a lively wait staff dressed up in colorful flair.  One of our waitresses was an energetic Mini Mouse who seemed excited to practice her English and to comply with our complicated menu requests.  After bonding with our wait staff we had to say good-bye by taking group pictures of the entire wait staff.  For some reason it seems popular to show the peace sign while getting your picture taken.
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11:00 pm - On our way out of TGI Friday’s, there were a number of people situating themselves on the floor of the train station including a mother and her infant child.  I am not sure if they were resting while they waited for their train or if they were getting prepared for bed.  I would like to know the percentage of homeless people in Korea and how that compares to the US. 

Coming out of the train station there was a group of people huddled around a karaoke machine singing a Korean song for everyone walking by.  Beside the karaoke performance, a Korean man was getting his hair cut.  I don’t know about you, but that strikes me as being pretty odd. 

blogWell, we are all past the point of tired and have to get up at the crack of down tomorrow.  It is one of our dress-up days where we will be speaking with multiple business owners and community leaders.  It is going to be a long day.

 

 

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Hello to all of those who are interested in our blog.  My name is David Poppel and I will be narrating the first blog of our exciting trip.  We are considered Group 1 but we named ourselves The World Travelers.  We have traveled individually throughout the world and are very excited about traveling to Asia to explore all its’ hidden beauty and wonders.  It is a society that one must experience in their lifetime.  Even more than Europe, Korea and Japan have a rich and wonderful history. 

        These lands have been the home of many of the world’s deepest secrets.  We are very excited to visit the land of the Samurai warrior; to experience the home the Ninja and to see some of their deepest secrets.  We as a team can not wait to feel the enormous amount of history within the walls of the sacred temples that litter the countryside.  We look forward to meeting and working with the peoples of these 2 great and proud nations.  Each one of us looks forward to the wondrous journey before us to Japan and Korea.

Gabbriel (Gabe) Heslop is currently a senior at Georgia State University and will be graduating in May 07’.  He will be receiving his Bachelors of Business Administration in Hospitality Administration and hopes that the skills he received as an undergrad will propel him into the real world with the tools and knowledge to succeed far beyond his goals and dreams.  He is looking forward very much to the Asia Study Trip because he believes that visiting a completely different part of the world will allow himself and the rest of the class a chance to possibly grasp an idea of what this part of the world is missing that we could provide and vice versa, if not now…then in the near future.  Also we all look to build ties through experiences, business, and friendship that last well beyond our trips duration, this is the one thing he looks forward to the most.  Thank you for reading.

Jason McGhee is a senior planning to graduate after the Asia Study Trip with a BBA degree in Computer Information Systems.  He has over 8 years of experience in the computer field including software support, software training, hardware support, and software testing.  Jason is very interested in the effects that advances in computer technology are having on globalization.  He is looking forward to the Asia Study Trip and believes it will provide a unique view of the effects of technological advances on two different cultures.In our search to answer the question of why South Korea has developed a much more entrepreneurial society than Japan, when it has followed the same plan for economic development, we were wondering if the excerpt below from a recent CNN article might provide some insight.

“When Japan announced in June that its population had shrunk in 2005 for the first time, Prime Minister Junichiro Koizumi said, "The data must be accepted gravely."

On Friday, Japan announced that it is now the world's most elderly nation, with more than a fifth of its people 65 or older. Italy is second.

On average, women must have 2.1 children in their lifetimes for a society to replenish itself, accounting for infant mortality and other factors. Only one country in Europe -- Albania -- has a fertility rate above 2, according to statistics gathered by the Central Intelligence Agency. Russia's fertility rate is 1.28. In Japan, it's 1.25.”

Allison Abbott is a soon to be graduate of the MBA program at Georgia State with a concentration in Entrepreneurship and Business Analysis.  She currently works as a Marketing Analyst Intern for a small entrepreneurial company.  Allison also uses her Graphic Design experience with create website and marketing material for local organizations.  In her spare time, Allison is a dance instructor for young children and performs locally with an Atlanta based tap group called the Rhythm Keepers.  Allison loves to travel and is excited about finally getting to see and experience the Asian culture.

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A recent article in the Charlotte Observer there was an article on Japan called “In Japan, cute $izzles”.  It describes how cute is cool in Japan to the point that even the police departments feature cuddly mascots.  Hello Kitty was started in Japan and now there is Pokemon and Tamagotchi.  The main debate of the article is “Cute-worship is gaining such overseas acceptance it’s rapidly becoming Japan’s global image.”  This “cute boom” has been heard by youths in every nation.

The article states how Japan’s entertainment content business is gaining on Toyota reaching about two-thirds of their sales.  A model/actress who is highly regarded at the personification of cute states “If someone doesn’t find me cute, I want to know why because then I’ll work on it to get better at being cute.”  Cute is the new sexy.

“Japanese are seeking a spiritual peace and an escape from brutal reality through cute things,” said Tomoyuki Sugiyama, President of Digital Hollywood

 

 

For a great article on the shrinking Japanese middle class, click here.

 

blog entrepreneur

Last class period we had our first taste of Korea.  After our lecture, we had a speaker who is originally from Korea.  Ms. June Towery is a lawyer here in Atlanta.  She spoke briefly about her career and her experience with international companies, mostly Korean companies who have operations in the US market.  Most fascinating was the discussions surrounding Korean customs and behaviors. 

She told us how Koreans feel a since of family and comfort with all other Koreans and therefore feel at ease asking favors for, sometimes ridiculous tasks.  Furthermore, Koreans do not often turn down a favor request, no matter how inconvenient the situation.  The most interesting part of this is that the person asking the favor is implicitly indebted to the other person and from that point will look for ways to repay them for their kindness.  If the person who is fulfilling the favor ever mentions the indebtedness of the other than the favor is considered repaid and lifts the obligation to repay the debt.

In the US, if someone owes you a favor it is acceptable to remind the person whenever possible that they have not repaid you. It is also acceptable to ask the person directly to repay you by fulfilling a certain request.  In actuality it seems rare that the favor is ever repaid. 

At the end of class she reminded us to smile when we are there, especially when we are interviewing local people, and to always have an open mind. 

Closing Thought:  Culture is built on hundreds of years of existence and therefore can be difficult to understand as outsiders.  The best we can do is to have an open mind that desires to learn.

 

 

 

blgo entrepreneur

Hello, fellow travelers,

It is hard to believe that it is only a few more days until our trip.

An exciting update to our group’s itinerary is that a young entrepreneur, Kenji Hiranabe, President and CEO of Change-Vision, has agreed to be interviewed for our project. Kenjie started his own company in Japan to market UML/Mindmap design tool he developed a few years ago. His products are used for visualizing the software creation process from start to finish. His message on how software design projects should be visualized describes the concept of "KAIZEN" (Improvements) and "MIERUKA" (A visualization method known in the TOYOTA Production System).You can listen to Kenji talking about his product to sync software developers and project managers here.)  

We are excited about talking to him: he typifies all we wanted in an
interview subject: young, visionary, global thinking. He is archetypically
an out of the box thinker, so lots to look forward to.

Hopefully, he can also elaborate on the art of drinking sake!
Stay tuned.

 

August 3, 2006

Hello to everyone reading our blog’s,
            With 1 day to go before liftoff, everyone and everything seems to be a big blur.  Making sure we didn’t forget anything and all the little things that come along with taking a trip like this.  We figured we would announce another momentous occasion the day before we leave on our expedition.
            The world travelers are excited to announce that we have secured a meeting with a Korean entrepreneur named Changsuk Lee.  On Thursday August 10, 2006, we will have the opportunity to interview Changsuk in the lobby of our Hotel.  He has been involved in the creation and management of several companies ranging from International Consulting to Mobile Telecom and a Strategic Investment firm.  He was a contributing writer for the Asian Wall Street Journal and Maekyung Newspaper.
            Changsuk graduated with a BE in metallurgical engineering,  from Yonsei University, Seoul, Korea.  He also has an MBA from Insead, France.  He has worked and lived in the U.S. for Boeing; in the U.K. for Merryl Lynch; and has been educated in France. 
The World Travelers are very exited and lucky to have the opportunity to meet and interview someone with such a vast and encompassing resume.  He is truly an International Entrepreneur. 
           
Stay tuned for more later…

 

 

blog entrepreneur

blog entrepreneurship7:30 am - Today seemed to go on forever.  It was always night, never day.  We left Atlanta at 7:30am Saturday morning.  Many of us had not slept the night before in preparation for being able to sleep on the plane.  We got a relatively short taste of what was to come on our 4-hour flight to San Francisco followed by a 4-hour layover.  At this point everyone was doing well and looking forward to our trip.  We had occupied all possible outlets to recharge our iPods and computers and made our final phone calls to our friends and family while still in the US.  I personally tried to stand up and walk around while in the terminal knowing that was going to be extremely difficult once wedged between other passengers while on the plane.  I wished too hard for an isle or window seat and ended up with a seat almost smack in the middle.

All I can say about the international flight is that we made it!!  We watched movies, ate noodles, tried to sleep, and tried to sleep some more.  In my opinion, the flight from Atlanta to San Fran was roomier than the international flight.  We decided that the United Airline tagline printed on all the napkins, “ More legroom than any other US airline“ had very little truth to it.  Maybe United should have only used those napkins for the first class passengers.

As for the food, the flight attendants seemed to know when I was hungry.  Every time my stomach started to growl, here came those rolling metal carts.  The first meal was actually pretty good.  After that all meals and snacks consisted of ramen.  I’m not sure we were prepared to have noodles for what would have been breakfast our time.  It’s probably better that we get use to noodles for breakfast, lunch, and dinner now because I have a feeling we are not always going to have a choice. 

5:30pm - We finally arrived in Seoul at about 5:30pm Seoul time.  We met our bus driver and took off towards our hotel.  The hotel’s name was the Life Style Hotel and was most definitely the most high tech, modern hotel any of us have ever stayed in.  Every room had a large flat screen TV, a Jacuzzi, a computer with Internet access, a talking drink machine, a hot and cold water machine and a sterilizer for our drinking cups.  Oh yes, and a bidet that doubled as a heated toilet and was covered with unreadable buttons.  Those people who ended up using the bathroom first had the job of figuring out how to flush the toilet.  Afterwards each roommate had a story about getting sprayed with water from inside the toilet while trying to flush it. 

I, personally, get excited when surrounded by innovative technology.  Everything in the room including the lights (and some colored mood lighting), TV, air condition, and shower, were all controlled by one remote control.  In addition to the towels that are standard in American hotels we also each got a robe and a pair of slippers.

entrepreneur blog9:00 pm - After playing in our rooms and pressing all the available buttons we went out on the town to find some food and start gathering interviews from some of the locals.  We ended up in the subway/train station where there were a couple of restaurants to choose from.  Half of us ended up at a Korean barbeque restaurant and the other half went to TGI Friday’s.  TGIF had a lively wait staff dressed up in colorful flair.  One of our waitresses was an energetic Mini Mouse who seemed excited to practice her English and to comply with our complicated menu requests.  After bonding with our wait staff we had to say good-bye by taking group pictures of the entire wait staff.  For some reason it seems popular to show the peace sign while getting your picture taken.

11:00 pm - On our way out of TGI Friday’s, there were a number of people situating themselves on the floor of the train station including a mother and her infant child.  I am not sure if they were resting while they waited for their train or if they were getting prepared for bed.  I would like to know the percentage of homeless people in Korea and how that compares to the US. 
entrepreneurship blog
Coming out of the train station there was a group of people huddled around a karaoke machine singing a Korean song for everyone walking by.  Beside the karaoke performance, a Korean man was getting his hair cut.  I don’t know about you, but that strikes me as being pretty odd. 

Well, we are all past the point of tired and have to get up at the crack of down tomorrow.  It is one of our dress-up days where we will be speaking with multiple business owners and community leaders.  It is going to be a long day.

 

           

August 9th

Our schedule was full today. So the day started for us with a nice caffeine shot from Starbucks. Oh yes, there is a Starbucks within a block of our hotel and it seems on every other corner of downtown Seoul. In fact, the whole group of students was going oooh and ahhhh with every sighting of major American restaurants and other companies as our bus hurtled through a major downtown boulevard on our way back form Jeonju city yesterday. The presence of Baskin Robins surprised many as we were told that the Koreans are not big on deserts and that were not likely to see ice-cream on our trip. That quickly cured the misconception that Seoul is not a world-class metropolis.

On our way to the Seoul High Tech Venture Center (SHTVC), David did a presentation on Japanese prewar history and Andrea did her presentation on the New Look of Japanese TV Commercials. Both were well prepared and presented.

The Seoul High Tech Venture Center (SHTVC) is part of the Seoul Business Agency (SBA) that "provides Seoul's high tech SMEs with opportunities to develop as advanced enterprises." These include different industries such as IT, Biotechnology, fashion, animation, etc. There were two speakers at the SHTVC whose companies were supported by the SBA. There was also a third speaker, Mr. Chris, from the SBA who gave us an overview of how the government works with private startup companies.

blog entrepreneur The first speaker was the marketing director for Chips & Media, a fabless semiconductor company with 75 employees that specializes in video technology. He explained their business model as IP providers in fast moving markets and Chip set vendor in mature markets. The company differentiates itself through technology. Where as most firms are either pure hardware or pure software producers, Chips & Media combines the two by starting with hardware and following up with software later. The strategy used for gaining competitive advantage is to start up with cheap chips and move onto larger ones that are more expensive to research and produce. 

The second speaker was the CEO of Xonda.net - a reverse auction site. Unlike other auctions where the seller or the buyer accept prices they don't like, Xonda.net's model guarantees that both sellers and buyers get the price they want. The difference between the two, then, is paid by bidders who pay a certain amount to see the current bid price. If they like the price, they can buy the product for that price. If not, the next bidder will see the price drop by the amount the previous owner paid to see the price. In some cases, an advertiser may pay this fee so the price may drop automatically.

Both the above companies were supported by the SHTVC in their startup period. The SHTVC provides specialized infrastructure for startups. It helps in developing markets in Korea and overseas. It also provides training courses and consulting support.  It is organized around business planning, business incubation and business education.

entrepreneur blogOnce we finished our meetings at the SHTVC, we headed on to the Hoseo Graduate School of Global Entrepreneurship. We arrived a little early so we headed to the Korea Arts Center across the street. We were going to walk around the grounds which Daniel described as "Beautiful". Unfortunately, the summer heat & humidity was unbearable. We were able to take a group picture in front of the fountain before everybody run inside to the nice, cool, dark and air-conditioned cavern of the opera house. While exploring the Korean Opera house we realized that they were in the middle of a musical run.  They were presenting Mama Mia.  We thought it would be a great opportunity to experience some more culture.  As it turned out 5 of us decided to take on the show.  For the price of 80 Won each we got box seats.

After securing the tickets, we headed back across the street to a restaurant next to the graduate school where we had another great kim-chee moment.


entrepreneurship blog

blog entrepreneurshipAt the Hoseo Graduate School of Global Entrepreneurship, we again had three speakers. The first one was Mr. Inkwan Cho from Hoseo Venture Capital. Mr. Cho gave a very informative lecture on the role of local venture capitals and more relevant to our trip, the differences between Korean and Japanese venture capital practices. The main differences relate to the fact that Korea is heavily focused on manufacturing and hardware sectors while Japan invests in service industries. Koreans are also a lot more dependent on a couple of companies' (Samsung  & LG) supply chains. Also, as we have found out throughout our trip, the government has a much larger and critical role in Korea.

The next speaker was Mr. Ki Rak Baek, a young motivational speaker who has created the Korean "internet community" website www.creven.org. Mr. Baek told us how he had failed in three business ventures before he succeeded with creven.org. bloggingMr. Baek mentioned that Korea has 10 million people i.e. 1 in 5 person, that are regular Internet, He also mentioned that Koreans would rather send SMS on their mobile phones than make an actual phone call or use IM while sitting next to each other instead of talking. His Internet community consists of 60,000 members and has been growing at 100% in the past two years and he projects that it will continue to grow at the same rate into the foreseeable future. He claims that his success comes from the fact that his members trust him.

Finally, Daniel (Hyun Lee), who has been with us throughout the trip, told us about himself and Korea. He started out by showing us a video about Korea. Then he explained some of the differences between Korean and Japanese culture. He mentioned that many of the qualities of the Japanese people were shaped by the fact that they were an island nation and that "Peace" and "Harmony" were the most cherished values. entrepreneurshipThis has led the Japanese to be more reserved, individualistic and less prone to invade personal spaces. In contrast, the Koreans value "originality" and "Orthodoxy" which has led Koreans to be outgoing, direct and less worried about personal space. Daniel also told us that he was a graduate student at the Hoseo Graduate School of Entrepreneurship and that he has a business in media advertising. "I am not a tourist guide!" he smiled.

Around 6:30 the 5 students and Jim headed out to the Mama Mia show. The show started at 7:30 p.m. and when it did we were quite surprised.  In our naiveté, we figured that the music would be in English since it was an English production.  Boy were we wrong.  After a couple of minutes of ABBA in Korean we realized that they did provide subtitles.  Throughout the play, we had to keep looking up to see what was being said.  This did not diminish the show whatsoever.  The actors on stage bounced around with more energy and enthusiasm than a 3 year at a birthday party.  They were absolutely marvelous.  The _expression of dance and song warped the language barrier.  The grace and energy with which the actors performed was unparalleled.  This is an experience that I would recommend for anyone coming to this country!!!

 



 
 
   
 


 
 


 
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