Life in Korea ^^: Day 108: 13 December, Friday

Temperature: -8/-1 degrees

Weather: (very very) Windy

TGIF!!! Another special day!!
- Last day of the week!
- Last day of the semester!
- Friday the 13th
- Unofficial graduation from polytechnic!

So I had my last assignment of the fall semester: IBN Business Negotiations Role Play with Meihwa!

So the role play is for the module International Business Negotiations (by Professor Philip Rose) where we mainly learn how to negotiate and some negotiation tactics and strategies. So in this final role play we are given goals to negotiate out a contract and we'll be graded based on our skills and results (I guess).

So Meihwa and I are representing East Africa Community (EAC) and we're negotiating against Subsea Cables Dynamics (SCD). So the story goes like this. We're actually looking for a company to provide us the service of installing cables under sea (or something) and this is our second meeting with SCD.

Previous meeting had a few agendas covered:
- Phase 1 out of 3 to be completed at a cost of USD$190 million (USD$570million for 3 phases)
- SCD will receive "preferred bidder" status for bidding process for remaining Phases

The three main agenda of the second meeting is as follow:
- Funding for construction of plant (EAC expects a 10:90 contribution)
- Ownership of shares (EAC expects a 70:30 split of shares)
- Warranty Period (EAC expects 4 years, 2 years above average)

MarCom is another company whom we have met once too and is considered SCD's competitor. Meaning to say, if SCD doesn't give us a reasonable price, we have the rights to turn them down and sign the contract with MarCom.

After what 30 minutes of discussion, we concluded with the following results:
- Funding of 60% by SCD
- Ownership of 60% shares by EAC
- Warranty Period of 3 years
- Cost of Phase 1: USD$180 million

I was kinda shocked that the other party gave up so much. But that did make the negotiation easier. Meihwa and I even set up an "insert" during the negotiation. Halfway through the negotiation, I pretended my phone rang and it was MarCom calling. I excused myself and intentionally let the other party (and my Professor) hear the conversation details which includes something like "alright then I'll see you tomorrow at 9am. Thank you!" followed by me returning to my seat and telling Meihwa, "MarCom called to make an appointment with us tomorrow at 9am." It was meant to make the other party nervous and let them know that if they don't offer a good enough offer we will turn to MarCom. Hahaha it was quite fun indeed.

Oh and on a side note, the context of the negotiation is set in EAC's office. Professor Philip Rose actually brought his own coffee machine into class and told us we need to offer the "guests" (which is SCD negotiators) coffee. Hahaha so fun.

Okay sorry for boring you if you didn't find the negotiation role play interesting but I liked it though. So the end of the role play marks the end of our fall semester and our unofficial graduation from polytechnic! Took photos with Meihwa and our negotiating partners!

Formal wear w/ Meihwa!

Its minus three degrees and we're wearing skirts!

Our negotiating partners!

#ootd hehe :P

And then we headed back to the dorm and I went to watch my final episode of "The Heirs". At about 1pm, Yixin, Cheryl, Taiquan and I went to have 부대지깨 (steamboat) for lunch! Its not really the free flow kind of steamboat, just all the ingredients in the pot and you eat it. About KRW$5,000 per person.

Lunch!

This two fooling around during lunch xD

And then we headed to school to submit our IBN final reports to Professor Philip Rose, pass him the thank you card and gifts, and take a group photo with him!

After that we went back to the dorm to gather our stuff and prepare to go to the post office! Cheryl and Yvonne went to noraebang~~

Met at 3.15pm at the lounge and Taiquan, Sean, Meihwa, Yixin and I were all there. The journey to the post office hence begins! (fyi the post office is really far and our loot weighs at least 5kg each T_T)

After some decades or what we finally reached the post office. And we totally messed up the whole post office with our stuff!

The box on top contains ONLY seaweed!

Yixin sent one box back (which is her 5th), Sean sent two, Taiquan sent three, Meihwa sent two and I sent one. And here's the cost of everything.

So after ages we were finally done. Headed back and got ready to meet Seungju unnie for dinner at 6.30pm! We went to Uncle Bob's for dinner! (let the pictures do the talking!)

Chicken Fried Rice

Seafood Fried Rice

Beef Fried Rice

My dinner ^^

The Honey Dip Cheese Pizza <3

After dinner, Cheryl, Yvonne and Adrial went to get Isaacs, Meihwa and Yixin went for Baskin Robins. Sean, Taiquan, Seungju and I went to drink at Sunny Bar! And we took photos too!!