Articles by mgedwards

Adventures at E-Mart

Today we went shopping at E-Mart.  Although it sounds like an electronics store, it’s actually a discount shopping center here in Seoul run by a subsidiary of Samsung.  We went to one not far from our home.  I really enjoyed observing the store and customers (mostly Korean).  I observed some interesting differences between E-Mart and the typical discounter in the United States.  E-Mart most closely resembles a Target Superstore and a Safeway grocery store roll into one, although it features some subtle differences (Korean writing notwithstanding).  Here are some of the differences I noticed:

  1. Although classified as a discounter, it appeared much cleaner and more upscale than the typical U.S. discounter.  Employees kept the store very clean and were very accessible.  Korean stores seem to schedule more staff on average than do American stores.  The prices were also generally higher than they are at U.S. discounters such as Target or Wal-Mart. 
  2. The store mannequins feature a darker shade of color, a darker beige, to reflect Korean clientele.
  3. Carts require a 100 won deposit (about 10 cents), reminiscent of European stores.  I’m not sure why, because 100 won is a small price to pay for stealing a cart.  The deposit is designed to get you to bring back the shopping cart when finished.
  4. The toys I saw seem to be more intricate and interchangeable than their American counterparts.  Many of the toys in the boys’ section featured anime or "Transformer" type themes.
  5. The store featured ingenious automated metal ramps built by Hyundai, and the wheels on shopping carts were designed to grip the ramps so they stayed in place while ascending or descending.
  6. The store’s food court sold only Korean food, although one could buy ice cream at Baskin-Robbins or espresso at a coffee shop.  The food court did not sell any drinks, which is a missed opportunity for E-Mart.  The profit margin on beverages such as soft drinks is very high relative to food dishes.
  7. The store featured a children’s play area perfect for young kids aged two and over.  My son is still a bit young and undersized, so we supervised him while he played.  Still, I’m glad E-Mart provided our son with great entertainment.  I really enjoyed watching him play with other children.
  8. Most products sold at E-Mart were Korean brands.  I saw only a few non-Korean brands in any department.  Seoul has one Costco, an American wholesaler.  I’m looking forward to visiting Costco in Seoul to see how it differs from Costco warehouses in the U.S.

E-Mart is affordable, but it isn’t cheap.  We don’t plan to go there too often, but it’s a great resource for local products.

March Madness and junk food

The NCAA Tournament, better known as "March Madness," began play last night.  The games were on tape delay here in Korea.  Still, I enjoyed watching a bit of the Gonzaga-Winthrop game on television.  The Gonzaga Bulldogs, a team from Spokane, Washington, won 74-64.  My Washington Huskies beat Montana, 88-77.  The Huskies are the top seed in Albuquerque Bracket, so they needed to perform better than they did against bottom seed Montana if they have a chance to win it all.  I do have to confess that although I am rooting for the Huskies to win March Madness, I’m not optimistic of their chance of success in the tournament.  After all, it is a ritual for Seattle sports fans to be pessimistic about their teams’ ability to win championships.  I did not choose the Huskies to win it all in my tournament predictions.  Although the Huskies are my sentimental favorite, something tells me that they won’t make it past the "Sweet 16."  When filling out tournament "brackets," or predictions, it is necessary to be objective.  I also like Gonzaga, another Washington State favorite.  (It’s difficult for anyone from Washington State to dislike the "’Zags."  The Washington Huskies-Washington State Cougars rivalry is another story.)  I did not pick the ‘Zags to go far either.  The ‘Zags are too often on the wrong side of upsets.

If you’re not into college basketball, but you enjoy investing, give Fool.com’s "Stock Madness 2005" challenge a try.  It’s a fun way to see how 64 top-performing investments perform against each other.  With the markets doing so poorly lately, one needs something to make investing more fun.  Of the stocks listed, I am personally bullish on Apple (AAPL), Yahoo (YHOO), Blue Nile (NILE), and Overstock.com (OSTK).  Fool.com’s tourney seems to be heavily leaning towards technology stocks.  I am surprised they did not include eBay or Google, two technology titans with heavy stock price swings over the past few months.

For those who are exercise nuts or generally stick to a strict diet, beware!  What follows may be discomforting to read.  For the rest of us, read on.  Our family had a junk food craving tonight and went out to each at a local restaurant.  We’ve been eating dinner at home pretty much since we arrived in Seoul and decided we needed to get out and feed our pent-up American junk food craving.  We loaded up on pizza, Philly steak n’ cheese sandwiches, cheddar and bacon fries, and Buffalo wings.  Completely artery-clogging junk food!  It was delicious.  If it’s any consolation, we walked to the restaurant because we don’t yet have our car here in Seoul.  We don’t do it very often, but we’re not alone.  It was Friday night, and around 7 p.m. the restaurant filled with customers seeking the same artery-clogging food.  I guess we’re not the only junk-food junkies.

From the "Things that Make You Go Hmm…" Department:  During our trip to Korea, we departed from Reagan National Airport in Arlington, Virginia.  One of President Reagan’s first bold moves was to fire the nation’s air traffic controllers when they illegally went on strike.  Now the commercial airport closest to the nation’s capital is named after this president.  Perhaps Congress was being a bit cheeky when they voted to rename one of the nation’s most famous airports after President Reagan.

Happy St. Paddy's Day

Wouldn’t you know it?  I forget to wear me Irish green today!  I told meself, "Wear your green, Seamus!" but lo I forgot.  That’s OK…St. Paddy’s Day isn’t really a big deal in Korea.  I manage to avoid being pinched for not wearing green.  In an office atmosphere heavy on protocol (at times politically correct), that’s relatively easy to do.  Expatriates love to celebrate Ireland’s national holiday with green beer or a pint o’ Guinness imported by local faux Irish pubs.  When asked about St. Patrick’s Day, Koreans told me that they knew about the holiday but don’t observe it.  (Obviously–the Irish don’t really celebrate Buddha’s Day either, so fair is fair).  Ireland and Korea have some similarities, not the least of which being that both have been historically dominated by island neighbors to the east, England and Japan.  Both experienced recent economic dynamism; Ireland as the "Irish Tiger" and Korea as an "Asian Tiger."  South Korea also looks a wee bit like Ireland on a map.  Both have large Christian populations, and both nations have a unique, passionate spirit that is not easy to characterize.  Both are political divided into north and south portions and have suffered violence over the years as a result of this political divide.

So much has changed over the past couple of years.  Two years ago I was an MBA student en route to Ireland for an MBA study tour.  I was a student tour leader leading a motley group of 21 on a school visit to London, Munich, and Dublin.  I was not in Dublin on St. Paddy’s Day, unfortunately, but I fondly remember my visit to the Emerald Isle.  We visited the Intel Corporation facility and the U.S. Embassy, an odd-looking circular building located in the suburbs.  I remember thinking how nice it would be to work there.  Maybe I will in the future.  We also made a pilgrimage to the historic Guinness Brewery and toasted with free pints of Guinness on the 7th floor observation tour overlooking the brewery and city.  Ireland is a wonderful place to visit, a hidden gem.  Visiting Ireland is worth the trip.  Don’t stay in Dublin, though–get out and see the beautiful Irish countryside.  Rent a car and have fun driving on the left hand side of the road.  I highly recommend visiting Newgrange, an ancient Celtic site older than the pyramids in Egypt, and Glendadough, an old monastery, if you have time to make a couple of daytrips.  2003 was the year when I finished my MBA, when my son was born, and when my dream of joining the Service moved one step closer to reality.  It seems so long ago, yet when I think about how fast time passes now it does not seem so long ago.

Today I had the honor of meeting Andre Kim, Korea’s premier fashion designer.  Andre Kim’s unique design style is a fusion of western and Asian styles.  I was happy to meet such a famous and well-regarded person.  Today is also our one-month anniversary living in Korea.  One month ago tonight we arrived at Incheon and embarked for our new home in Seoul.  It’s hard to believe how fast time has passed here.  We’re only here for two years.  Our Korea tour will be over before we know it!