Friday, May 16, 2008

Korean productivity? Not so much

It is funny, I read an article yesterday that Korea ranked at the bottom of the productivity scale.

"Korea's labor productivity dipped as the world's lowest for the sixth consecutive year, a massive obstacle to uplifting national competitiveness."

It is amazing that a country with a number of well-known brands (including Samsung) can have such low productivity. As one of my friends put it, "the amount of red tape in Korea that it makes France look like an entrepreneur’s dream!"

With all of this however, things are really fascinating over here. Having LG hire a few foreigners in high-up positions, the scandal at Samsung and massive management shake-up (including dissolving the office that our group sits under...). Things are changing, perhaps not super fast, but still interesting to watch and make you wonder how things will be in 10 years.

Apparently the drinking culture of Korea is changing slightly, the younger generation does not easily tolerate the continual nightly drinking with co-workers. They probably still have to go often, but perhaps less. That said, I did see a guy on my way home the other night was trying to rid himself of some of the alcohol...Ah Korea

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