One year after getting permanent residency, Geyer reflects on Korean business world


German-born business executive Thomas Geyer is a big fish in a small, exclusive pond.

According to the 43-year-old president of Vector Korea IT Inc., one of the perks enjoyed by foreign executives in the Land of the Morning Calm is the exposure to movers and shakers in the Korean political and business circles.

“I meet people I would never have met in Germany. Assemblymen from Parliament, the Justice Ministry. … It’s a nice experience,” Geyer says, speaking to The Korea Herald from his Hannam-dong office on a weekday morning.

Geyer is the local head of Vector, a German company that supplies tools, software components and engineering products related to the automobile industry. He is also one of the seven foreign businessmen who received permanent residency from the Korean government about a year ago.

Though he has no immediate plans in the future to return to his native Germany, Geyer says the transition may be tough because he has become so accustomed to being treated like someone special.

“In Germany, I’ll have to go back in line, become a normal employee again,” he said, half in jest.

The unique business climate of Korea is another draw for Geyer.

“In Japan, you have high-end products that are very expensive. In China, you get poor quality but cheap prices. As an international car man doing business here, the quality improves but the price is still reasonable,” he said.

But Geyer admitted that initially, he had some misgivings regarding Korean business partner culture, which he likened to a relationship between a king and a servant.

He was referring to the so-called “gap-eul relations,” in which the company making the offer generally remains dominant over the company that accepts.

“In Korea, the customer is king, or ‘gap,’ while the company is the ‘eul’ or servant,” Geyer said.

In a culture where quick fixes and speed is the norm, the biggest challenge, Geyer said, is acting as an interface between European culture and Korean expectations.

“Germans need more time, but the product quality is 110 percent. Koreans are satisfied with 90 percent quality, just as long as it’s made more quickly,” he said.

He also said that the title-driven Korean corporate culture took some getting used to.

He noted that his 27 Korean employees, most of whom are comfortable using English, seemed to encounter a barrier when speaking to each other in Korean, because a title is part of how you address someone in Korea. So he said that a lower-titled employee may sometimes hesitate in talking to a superior due to this system.

To encourage a free flow of ideas, regardless of rank and title, Geyer said that he implemented a new system at his company. Now everyone, when using Korean, is required to address each other using the term “manager-nim.”

“This way you still show respect to your colleagues but still get the benefits of open discussion,” Geyer said. “This is different from the work title, which is assigned based on performance.” 

And hard work is something he doesn’t take lightly. After graduating from Friedrich-Alexander-Universitt Erlangen-Nurnberg, or FAU, with a degree in IT science, Geyer started working in the German automotive IT industry, which eventually led to his latest appointment at Vector Korea.

He is currently also active the non-profit business organization, the European Union Chamber of Commerce in Korea, or EUCCK, and currently serves as organization’s chairman for the auto-parts committee.

His ties to EUCCK led to his permanent residency status in Korea, which he received last May along with six other European businessmen who helped contribute to economic growth in the country. Among the seven include Shinhan BNP Paribas’ deputy chief executive Patrick Mange as well as Harting Korea managing director Holger Doerre.

“The Ministry of Justice selected 10 Europeans. We were asked, and seven (including myself) accepted,” Geyer said.

The other three who declined permanent residency had some worries regarding the loss of their D-8 visa. Commonly known as the corporate investor visa, the D-8 comes with some special privileges, including the use of the diplomatic entrance at the airport and sponsorship from overseas. But the visa needs to be re-issued every three years and is tied to certain employment restrictions.

The F-5, or permanent resident visa, gives holders the right to stay in Korea even if they lose their current job. It also grants voting privileges to foreigners, as it allows holders to vote in municipal elections.

So far, Geyer said that he honestly has not seen much practical benefits as a permanent resident of Korea, and added that most businesspeople prefer the D-8.

But he said that for now, he regards the F-5 as an honor, especially since he and his family currently have no plans to leave Korea anytime soon.

His children, Tatiana and Yannik, are actually what led the German-born and bred Geyer to relocate his family to Seoul.

Geyer and his Korean wife Melanie, who he met during university, agreed that their children should have insight into the other side of their family history and culture.

The family of four came to live in Korea for the first time in 1999, and left a year later. In 2007, the Geyers returned to Seoul and have been here ever since. The children currently attend a private international school called the German School Seoul International.

Many European businessmen tend to relocate after three years, but Geyer said that for now, his stay is indefinite.

Besides, he says, the weather in Korea is wonderful.

“Germans always say that the weather is nice in Korea. You have all four seasons, and many sunny days.”

By Renee Park (renee@heraldcorp.com)