South Korean Woman and the Workforce

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South Korea Women and the Workforce HRM 530 March 3, 2013 Question # 1- Determine if and how the HRM practices align with the company’s business strategy. SK Group is a conglomerate of different businesses owned by the Chey family. It begun in 1953, after the Korean War, when the fledgling Korean government gave businesses its support as well as favors to certain families to begin businesses. It was hoped the companies would help to restore the country after the devastation of war. Today, SK Holdings is comprised of 35,000 employees working in 8 subsidiaries and 5 Affiliates, with revenues of 82 million, in Fiscal year 2011. SK operates companies all over the world in the fields of energy, chemicals, mining, construction, transport, telecom, trading, securities, marketing and media. The company strategy is vertical integration with a three tiered divisions of Telecommunications, Energy and Chemicals, and Trading and Service. The operating companies pay a licensing fee as well as promise to follow the SKMS and the performance evaluation process. SK Holdings owns all the business’ assets including the operating companies (“SK Overview”, 2013). SK Holdings upper management consists of a Board of Directors with 7 members. Three, with one being Chairman Chey Taw-won, are from SK Holdings and are all men, who review and approve the company’s major decisions. To show transparency SK Holdings implemented an Audit Committee of 3 Directors from the subsidiaries, a Nomination Committee of 1 member from SK Holdings and 2 from the subsidiaries, and a Transparency Committee with 3 members from the subsidiaries who are all men (“SK Corporate”, 2013). The key to South Korea's success is a labor system based on close cooperation among three parties- employers, employees and the government. Korea has a national human resource development, which focus on the development of

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