Human Resource Mansgement in Korean Firms and its Future Outlook

Abstract

Human resource is firm's foremost intangible asset and is also what

makes up firm's core competence, providing the key to solving

organizational problems and increasing firm performance. Korean firms

in the past have competed on low-cost strategy and paid less attention

to proper management of their employees. This paper examines how

Korean firms have dealt with each of the main functions of HRM from

1960s up to the present. It, then, proposes a hybrid approach to

management that combines both the unique Korean cultural factors

with Western style of management to allow firms to better handle

demands of their culture and pressures of competing globally.