Since 2000, Korean corporations have been showing keen interest on ethical business management as the general awareness of social responsibility of corporations is emphasized. Recently a research shows that over 80% of big 500 companies introduced the ethical business practices as their management values.
As we aware, management practices of most Korean companies are based on oriental culture which is more focusing on people consideration than transparency and rationalism of management system. It is right time to review the current management practices and try to go forward to the right direction which companies envision to be competitive in the market.
In this study, I introduced the strategy and settlement plan of ethical business management for Korean companies. First, government has to do deregulation and incentive of ethical business. Secondly, corporations have to establish ethical management system and provide the incentive. Finally, civil society demands social reward for ethical corporations and establishes the observation system of non-ethical corporations.