The KABC Hybrid Korea Business Forum
Operating a Foreign Company in Korea in 2023
8.00am – 10.00am Thursday 15 June 2023 at the
Namsan Room 5, 2F, Grand Hyatt Seoul and Online Seminar Room (Zoom)
We are now in the final month of Q2 and can begin to estimate the GDP growth for the quarter and the year. Governor Rhee of BOK gave an excellent summary of the state of the economy in mid-May when he continued to freeze the interest rate at 3.5% while suggesting that overall Korea will grow at 1.4% in 2023 with the full forecast given on May 25th which has some disturbing details and for the first time introduces two scenarios.
Our main discussion for June is to talk about how operating a foreign company in Korea in 2023 is different from the past based on the views of practitioners. I have invited three guests to join in the discussion, Dr Lee of Korea Labour Institute who has recently given a good overview of the steps for labour reform which are proposed. Jay Lee from Intel will talk about the issues of dealing with the new Korean government one year into the Yoon presidency and the third guest has not replied yet but would talk about the contrast between office bound workers and flexible workers who choose whether to work from office or home especially in relation to raising a family. I hope we can have a discussion on generation gaps, employing older workers and the challenges of AI in the office place. Other members will be adding their observations on other difficulties or successes of 2023 so we can consider a good housekeeping agenda for foreign companies in Korea.
I am collecting ideas at the moment so please let me know if there is an issue you think we should discuss at this session.
Tony Michell Ph.D
Managing Director, KABC Ltd.