Business between the US and South Korea happens on a daily basis however this does not come without challenges. The language barrier, confusing regulations and standards, and resistance to foreign business models.
For starters the main and also easiest to fix is the language barrier. While most Koreans know some English there is still a need for a interpreter so nothing is mis-construed.
Regulations have a habit of being non transparent to foreign companies. South Korea has made many strides in recent years to regulate its extremely fast growing economy(International Trade Organization, 2022). Most outside companies are not aware of the nuances and fast changes that happen. This can be a massive issue with foreign investors where they can be shutdown and fined for these confusing regulations. Finding a local legal aid can be helpful in fully understanding and avoiding this minefield.
Finally South Koreans tend to resist foreign business models. If a company from the US comes to South Korea they must adopt the South Korean way. The best way to do this is to have a known Chaebol or family run business help you. These Chaebol families control a vast majority of all the major businesses in South Korea(International Trade Organization, 2022). Using them or partnering with them would help a US based company excel in the South Korean landscape.
Although South Korea is a massive business partner with the United States it does not come without its issues. As stated above using proper interpreters, having a local aid to help with regulations and standards, and partnering with a Chaebol can all help increase the rate of success for a US company doing business with South Korea.