The Koreans with about 154,000 of them reported as immigrants are the biggest number of foreign nationals in Southeast Asia.

In the Philippines, history tells us that the Koreans came to the country in several phases: with the very first ones before the war consisting of Korean missionaries. The second wave, were the War Brides of Filipino soldiers who fought during the Korean War in the 50’s. The next wave was in the 1980’s, when Korean Industries were established in the country bringing Korean Expat Managers and technicians to settle here. Then in the 1990s, more expats came to occupy technical positions in many Korean companies. Starting the year 2000, Korean students and their families arrived to study English here as a second Language before finally settling to either Canada or the US as immigrants.

During that time about 1,500 students were registered.

In 2006, about 570,000 Korean tourists arrived in the country but no record could tell how many of them have settled illegally in the country.

Today, we see Korean “villages” in Makati Poblacion and in BF Parañaque. There are also those who prefer to settle in cities like Bacolod, Subic, Davao, and Baguio. It is said that about 46,000 families have settled in the country.

Since a few years back, our quiet village has turned into a haven for Korean business. Starting with a few stores engaged in second hand appliances and a few beauty salons, I could make a guess that it has now about more than a hundred SMEs engaged in all sorts of entrepreneurial undertakings like – beauty spas, restaurants, snack bars, second-hand appliance stores, motor shops, boutiques, groceries, travel and leisure, sports boutiques, and even medical services.

One may ask what makes the Koreans tick as entrepreneurs?

Simple – they follow the basics!

In organizing, for instance, if they cannot immediately put up their own business, they buy existing ones, change the name and presto – a new korean business!! Unlike Filipinos, they don’t fancy franchised business. They start their own and develop the market. What is remarkable, their businesses are not unique but they are neither copy cats however, they are able to grow them and compete even with their local counterparts. Hence we see their own version of “lechon manok”, their own massage and spa centers, their own “7-11s” and authentic Bi Won Restaurants.

Another lesson Filipinos can learn from them is how to start and manage SMEs. One will notice how Koreans maintain clean, customer friendly, and attractive establishments. No wonder even Filipinos patronize them despite price disparities compared to other establishments. Every one can see how easy it is for them to convert even a small space to become a more pleasurable place to go, not crowded with too many helpers, not cluttered by too many tarpaulins to advertise their products.

When it is a family business, it is run like one. You see the mother, the daughters and even the sons working alternately in sales, marketing and even in the kitchen of those in the restaurant business. Management? They stick to basic business principles. A Korean restaurant operator complains of his Filipino staff who always find ways to cut corners to prepare their menu. Things like how to stick to cutting the meat in the right size, amount of oil to use for frying, and even the number of minutes to steam vegetables are followed to the letter. They are strict with their time. No one spends more than their allowed lunch break, every minute counts. Hence their turnovers and profits are even greater than their Filipino SME counterparts.

They do strategic plans. They are not afraid of competition. They establish their business right where their market is but making sure their business retains its Korean trademark. The only negative to this is that all their marketing collaterals (from their Panaflex signs to their tarpaulins and interiors) are in Korean to attract fellow Koreans to patronize their businesses.

Lastly, they don’t start their enterprise with business loans from their favorite bank. Financing comes from hard earned savings, while some from pooled resources of the owners and their relatives, something that Entrepreneurship 101 will tell all start up entrepreneurs when the subject of financing are discussed.

If the Koreans can do it, I think the more the Filipinos can!