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2009 Edelman Trust Barometer


         Korea Report
2009 Edelman Trust Barometer at a glance


Tenth edition, fourth to include Korea data

4,475 people in 20 countries on 5 continents

Ages 25 to 64
- Two age groups concurrently (25~34 and 35~64)

“Opinion elites” meeting the following screening criteria:
- College-educated
- In top 25% of household income per age group in each country
- Report significant media consumption and engagement
  in business news and public policy
A Decade of Insights from the Edelman Trust Barometer
   2001        Rising Influence of NGOs

   2002        Fall of the celebrity CEO

   2003        Earned media more credible than advertising

   2004        U.S. companies in Europe suffer trust discount

               Trust shifts from “authorities” to peers
   2005

               “A person like me” is most credible spokesperson
   2006
               Koreans more likely to criticize companies they
               distrust
   2007        Business more trusted than government and media
               Korea leads the world in trusting the internet and
               blogs in sharing credible information
   2008        Young influencers have more trust in business
               Rising trust in Government, Media and NGOs but
               Korean business facing eroding trust overseas

                               3
What a Difference a Year-and-a-Half Makes

 May 14, 2007                January 19, 2009
Key Themes in 2009 for Business in Korea
• Trust in business takes major hit in Korea, particularly among financial,
automotive and, surprisingly, healthcare sectors:
7/10 people trust business less compared to last year
Koreans trust business less compared to rest of Asia-Pacific as well as China, India, Japan and Indonesia
Koreans lost faith in American businesses but European companies maintain levels of trust despite troubling
economic conditions in 2008


• Young opinion leaders lose optimism and faith in Korean institutions:
Trust eroded in business from 52% in 2008 to 32% in 2009
Trust in the media drops from 60% to 38%


• The NGO opportunity in Korea:
Korea is significantly more trusting of NGOs compared to Asia-Pacific as a whole as well as individual
countries like Japan and Australia


• Rise of ‗authentic‘ employee and digital communications:
Trust in employees as information sources shoots up from 28% to 40%
Trust in social networks almost doubles from 24% to 45% and conversations with peers and friends rises
from 40% to 62%

• Communication and trust more important for reputation than value for money
Value for money scores 68% versus global score of 91%, even during prevailing downturn, and follows other
reputation factors like frequent communication and trusted company
1


                       The State of Trust 2009




   ―Every financial system depends on
    trust...We are in a full-blown crisis
      because investors and financial
  managers—the people who run banks,
investment banks, hedge funds, insurance
    companies—have lost that trust.‖

   – Robert J. Samuelson, Newsweek




                                            Richard S. Fuld Jr., former CEO, Lehman Brothers
7 out of 10 in Korea Trust Business Less Following Year of Economic
                                       Troubles


                                                                 A lot more 1%

                                                    A little more 8%
                                                                                             16%
                                                                                               A lot less

                                                              22%
                                                       The Same

                                                                                               53%
                                                                                            A little less




A60 Thinking about everything you have read, seen, or heard about business in the last year, in general, do you trust corporations a lot less,
a little less, the same, a little more, or a lot more than you did at the same time last year? (Bottom 2 Box: Trust less) 25-64 Informed publics
in 20 countries

                                                                                      7
7 out of 10 in Korea Trust Business Less Following Year of Economic
                                         Troubles
                                                             % who trust companies less
    100%

      90%
                      83%
                              79%
                                     77%
      80%
                                             74% 73%
                                                            69%
                                                                    67% 67% 67% 66%
      70%
              62%                                                                                 62% 61%
      60%                                                                                                        56% 55%
                                                                                                                         54%
                                                                                                                                        50% 49% 49%
      50%

      40%
                                                                                                                                                      32%
      30%
                                                                                                                                                            21%
      20%

      10%

       0%




A60 Thinking about everything you have read, seen, or heard about business in the last year, in general, do you trust corporations a lot less,
a little less, the same, a little more, or a lot more than you did at the same time last year? (Bottom 2 Box: Trust less) 25-64 Informed publics
in 20 countries

                                                                                      8
Young Koreans Less Trusting of Business Compared to Rest of Asia,
               Similar to Many Western Countries




                      Trust in business <50% among 25-to-64-year-olds

                      Trust in business >50% among 25-to-64-year-olds
Trust in Business in Korea Low Compared to Asia Pacific

                                                           % who trust Business
    100%

     90%

     80%
                                                                 71%
     70%
                                                                                                            63%
                                                                                        62%                                       62%
                                           57%
     60%

     50%
                                                                                                                                              43%
                     39%
     40%

     30%

     20%

     10%

       0%
                   Korea             Asia Pacific              India                China                 Japan              Indonesia      Australia




A9. [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that institution to do what
is right. Please use a 9-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM
A GREAT DEALquot;. The higher the number the more you TRUST them to do what is right. Let's start with… [INSERT FIRST. RANDOMIZE.
ACCEPT ONLY ONE RESPONSE]. (Top 4 Box), informed publics aged 25-64

                                                                                   10
Older (35-64) Opinion Elites‘ Overall Trust in Business in Korea,
                                    However, Remains Steady
                                                       % who trust business to do what is right
                                                                                 2008        2009
    100%
                                                                                                                                                             New
                             Trust Down                                              Trust Steady                                  Trust Up               additions
     90%
                                                                                                                                                           in 2009
     80%
                                     75%             74%
                                                                                                                                                    71%
                                                                                                                                     69%                        68%
     70%
                                                       65%                                                 63%
                                       65%
                                                                                                                               62% 61%
                                                                                                     61%
                     58%
     60%
                                                                                                                             55%                   54%
            51%
                                                                                                                                             51%
                                                                     49%
               49%                           49%                                                   47%
     50%                                                     47%                         45% 45% 45%               45% 45%
                                                                        45%
                                                                                                                 43% 42%
                                                               41%
                             41%                                                                                                           39%
                                               40%                                                                                                        39%
                       38%
     40%                                                                      35%
                                                                                33% 30%
                                                                                       29%
     30%                       27%

     20%

     10%

      0%




A10. [Business in general TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that
institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means
that you quot;TRUST THEM A GREAT DEALquot;. (Top 4 Box) Informed publics 35-64 (global 18 countries, excluding Australia, Indonesia)

                                                                                        11
Trust in Business in Korea and Europe Remains Steady
                                       despite Major Drop in US                                                                                      20
                                                                                                                                                    point
                                                                                                                                                   drop in
  60%
                                                                                                                                          58%
                                                                                                                                                     US
                                                          US             UK/France/Germany                              Korea
  55%
                                                                                                                       53%
                                                                   51%
                                                                                                      49%
  50%
                                                  48%                                  48%
           Enron, the dot-com bust
              and September 11                                                                                         46%
                                                                                                          46%
                                                                                                                                                  45%
               44%               44%
  45%
                                                                                                                                           43%

                                     41%
  40%                                                                   40%
                                                                                                                                                        38%
                                                                                                          38%
                                                                                                                                            36%
                                                                                         36%                                                            36%
                                                                                                                           34%
  35%                                                  35%


                                                                                                                          U.S. is the new Europe
                    32%
  30%
               2001             2002             2003             2004              2005             2006             2007                2008    2009

A10. Business in general [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that
institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means
that you quot;TRUST THEM A GREAT DEALquot;. (Top 4 Box) Informed publics 35-64 in the United States.

                                                                                  12
Older (35-64) Opinion Elites‘ Faith Remains Unwavered
                                                            2008          2009
           100%

            90%

            80%

            70%
                                                     60%                                                          59%           57%
            60%                                                    55%

            50%                      45%
                        43%
                                                                                   40%           38%
            40%

            30%

            20%

            10%

             0%
                           Business                        Media                    Government                          NGOs

                                                      NB: changes in Business, Media and NGO are statistically significant with this data set



A8-11. [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that
institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and
nine means that you quot;TRUST THEM A GREAT DEAL.‖ The higher the number, the more you TRUST them to do what is right.
(Top 4 Box) Informed publics 34 (global 20 countries – Korean Data shown only)
                                                                         13
Young (25-34) Opinion Elites Lose Faith in Korea Institutions:
                             Business, Media and the Government
                                                                 2008              2009
           100%

            90%

            80%

            70%
                                                     60%                                                                        60%
            60%
                        52%
            50%                                                                    44%                            42%
                                                                   38%                           36%
            40%
                                     32%
            30%

            20%

            10%

             0%
                           Business                        Media                    Government                          NGOs

                                                      NB: changes in Business, Media and NGO are statistically significant with this data set



A8-11. [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that
institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and
nine means that you quot;TRUST THEM A GREAT DEAL.‖ The higher the number, the more you TRUST them to do what is right.
(Top 4 Box) Informed publics 25-34 (global 20 countries – Korean Data shown only)
                                                                         14
The NGO Opportunity in Korea

    NGOs most trusted institution in Korea and Globally, but not in Asia Pacific as a region

                                               % who trust each institution
   100%
                              NGOs                    Business                   Media                   Government
    90%

    80%

    70%
                                                        58%                                             57%     56%
    60%        54%                                                                                                     52%
                                                                                                51%
                        50%
                                47%
    50%                                                                  45%
                                         43%
                                                                 39%             37%
    40%

    30%

    20%

    10%

     0%
                       Global Total                                Korea                                Asia Pacific


A8-11. [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you
TRUST that institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT
TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEAL.” The higher the number, the
.
more you TRUST them to do what is right. (Top 4 Box) Informed publics 25-64 (global 20 countries)

                                                                 15
Technology Remains Most Trusted Industry Sector Globally

                                                                        2009             2008
                                                                                                                                         76%
                 Technology                                                                                                               77%
                                                                                                                           66%
     Biotech/life sciences                                                                                                65%
                                                                                                              57%
      Health care industry                                                                                          61%
                                                                                                              57%
                 Automotive                                                                                         62%
                                                                                                           55%
      CPG manufacturers                                                                                    55%
                                                                                                           55%
                       Energy                                                                                57%
                                                                                                           55%
                        Retail                                                                                 59%
                                                                                                           55%
                         Food      N/A
                                                                                                         53%
          Pharmaceuticals                                                                                   56%
                                                                                                      50%
              Entertainment                                                                              53%
                                                                                              45%
                       Banks                                                                                56%
                                                                                          42%
         Media companies                                                                        46%
                                                                                        40%
                  Insurance                                                                   45%


A25-37. [TRACKING] Now I would like to focus on your trust in different industry sectors. Please tell me how much you TRUST businesses
in each of the following industries to do what is right. Again, please use a nine-point scale where one means that you quot;DO NOT TRUST
THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEAL.‖ (Top 4 Box) Informed publics 35-64 in 18 countries 2008-2009

                                                                                16
Trust Falls for Most Sectors in Korea, with Some Big Losers

        100%
                      Significant Losses in Trust, >10%                                                                     2008         2009
          90%
                                                                                                                            81%
                                                                                                                         78%
          80%
                                                           73%                                                 73%
                 71%
                                                                                                                                      69%
                                                 68%                                                              68%
          70%                                                                                                                      65%
                                      63%
                                                                       61%                     60%
                                                                 59%
          60%                                                                      56%
                                                       52%
                      53%                                                                        53%
                            49%                                              49%                       49%
                                                                                         46%
          50%                              46%
                                                                                                             43%
          40%                                                                                                                                     35%
                                31%
          30%

          20%

          10%
                                                                                                                                            n/a
           0%




A25-37. [TRACKING] Now I would like to focus on your trust in different industry sectors. Please tell me how much you TRUST businesses
in each of the following industries to do what is right. Again, please use a nine-point scale, where one means that you quot;DO NOT TRUST
THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEAL.‖ (Top 4 Box) Informed publics 25-64 in the United States

                                                                                   17
US, Chinese, Russian and Irish Companies Big Losers of Trust in Korea
                                            Trust in most European-based companies remains stable
                                                                            (i.e. non-significant changes)
                                                                                  2008              2009
                 -17                         -17                                                                                                                       -18          -16
   100%

    90%
                                                                                                                    81%
                                                                                                 77% 76%      77%                 76%           76%
    80%
                            74% 73%                                                                                                                              74%
                                                                                                                            71%
                                                                                                                                          69%
              66%
    70%
                                          61%                                                                                                              61%
                                                                     58%
    60%                                                                    55%     54%
                                                                                         52%
                    49%
                                                       46%
    50%
                                                44%
                                                             39%                                                                                                                   39%
    40%

                                                                                                                                                                       28%
    30%
                                                                                                                                                                                         23%
    20%
                                                                                                                                                                             10%
    10%

      0%




A12-24. [TRACKING] Now I would like to focus on global companies headquartered in specific countries. Please tell me how much you TRUST global companies
headquartered in the following countries to do what is right. Use the same nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine
means that you quot;TRUST THEM A GREAT DEAL.‖ (Top 4 Box) Informed publics 35-64 in 18 countries

                                                                                               18
2


Lack of Trust Triggers Call for Shared Responsibility




                                  ―...our problem is not just
                              a deficit of dollars. It‘s a deficit of
                              accountability...a deficit of trust.‖

                                       – Barack Obama
Call for Stricter Regulations and Greater Control over Business Present in
       Korea, although Less Certainty Compared to Global and Asian Trend


                           Informed Publics, Globally                                                                Informed Publics, Korea
        Agree,
         65%                                                                                                                                          Disagree,
                                                                         Disagree,
       (64% in                                                                                                                                          33%
                                                                           22%
         Asia                                                                                    Agree, 41%
       Pacific)




                                                                                                                                                     Neither
                                                                                                                                                    Agree nor
                                                                                                           Dont know,
                                                                Neither                                                                             Disagree,
                                                                                                              0%
                                      Don't                    agree nor                                                                              26%
                                    know, 1%                   disagree,
                                                                  12%


F146. The recent credit crisis and government bail-outs have led to debates on how much governments should intervene to regulate industry or
nationalize companies to restore public trust. Please tell me how strongly you agree or disagree that your government should in the future impose
stricter regulations and greater control over business across all industry sectors.(Informed publics 25-64 in 20 countries)

                                                                                          20
What Should Government Do To Address the Issue Caused by the Recent
                              Financial Crisis?

                                                                                                        Informed Publics, Korea



                2/3 still believe                                                                                                                 Free Market,
                                                                                                                                                      33%
                government                                                    Intervention,
                intervention is                                                    64%

                necessary

                                                                                                                                                    Don't Know,
                                                                                                                                                        3%



                                                                             Government should intervene in the activity of banks and the financial industry using
                                                                             whatever means it sees appropriate, including lending money or guaranteeing deposits?
                                                                             OR
                                                                             Government should permit the free market to function independently, allowing banks and
                                                                             other financial institutions to fail or be acquired?

F144. Given the recent financial crisis, which one of the following choices comes closest to your view on how your government should respond to
prevent future

                                                                                          21
Four Global Issues:
    Who Is Responsible for Causing and Solving?




                                            Energy
              Financial
                                            Costs
             Credit Crisis




                             Access to
 Global
                             Affordable
Warming
                             Healthcare
Government and Business Share Responsibility for Causing Global Issues
                      Korea‘s Perspective consistent with global data – responsibility is shared
                                               Government and regulators              Businesses

    100%

     90%

     80%                                            75%
                                                                  71%                71%                              71%
     70%
                                 64%                                                               64%
                   61%                                                                                                           61%
     60%

     50%

     40%

     30%

     20%

     10%

      0%
                    Energy Costs                Financial Credit Crisis              Global Warming                Affordable Healthcare



E. 119-120, E124-125, 129-130, 134-135. Now thinking about (energy costs, financial credit crisis, global
warming, affordable healthcare), please tell me how responsible you think each of the following entities are for
.
contributing to (global issue)? TOP 4 BOX 25-64 informed publics in 20 countries (Korea data only shown)

                                                                        23
Government Held Most Responsible for Solving These Issues
                                        Despite being most trusted in Korea,
                                  NGOs not considered most responsible for solutions

                                      Government and regulators           Businesses         NGOs
   100%

    90%
                                                                                                      80%
    80%
                                             67%
              65%
    70%

    60%
                                                                           52%
    50%

                                                                                    36%
    40%

    30%                                               24%
                       22%
    20%
                                                                                                              13%
    10%
                                 3%                            1%                             1%                      1%
     0%
                  Energy Costs              Financial Credit Crisis           Global Warming          Affordable Healthcare




E138. And which ONE entity do you think should be MOST responsible for (solving each global issue)?
.
Informed publics 25-64 in 20 countries (Korea Data only shown)

                                                                  24
Business Has Lost Ability to Lead Unilaterally
                                  Must Partner with Others to Solve Global Issues
       Only businesses in Latin America face greater expectation for partnership than Korean business
                         Partner with governments and third parties                             Do what it can alone                   Play no role
    100%

     90%
                                                                                                         83%
                                                                                                                                                    75%
     80%
                                                                                                                                69%
               66%                                                                 65%
     70%
                                                            61%
                                     56%
     60%

     50%
                                            40%
                                                                   35%
     40%
                                                                                          33%
                     31%                                                                                                               29%
                                                                                                                                                          23%
     30%

                                                                                                                15%
     20%

                                                                          4%
     10%
                                                                                                                                                            2%
                             3%                    2%                                            2%                                            2%
                                                                                                                       1%
       0%
                   Global           North America                  EU              Asia-Pacific          Latin America                BRIC            Korea

E139. Thinking about the role that business should play in helping to solve global issues such as energy costs, the financial credit crisis,
global warming, or access to affordable healthcare, which of these following three statements is closest to your view? Business has to
partner with governments and advocacy groups to solve these global issues, it cannot do it alone; OR Business should focus on what they
themselves can do on these global issues, whether or not governments or others partner with them ; OR Business should not play a part in
helping to solve these global issues (Informed publics 25-64 in 20 countries)

                                                                                     25
3


                              Who Can We Trust?
Trust in Information Sources & Spokespeople Declines Across the Board Globally
        Rise of ‗Authentic‘ Regular Employee and Digital Communications




   quot;I understand your disappointment,
  your anger. This situation is perfectly
             unacceptable.‖

            -Daniel Bouton,
    -former CEO of Société Générale
Friends and Peers, along with Experts and Traditional News Sources
                     Most Credible Sources of Information in Korea
               Conversations with friends/peers                                                                                                    62%

                     News coverage on the radio                                                                                                    62%

                Stock or industry analyst reports                                                                                                61%

                        Television news coverage                                                                                                 60%

                           Articles in newspapers                                                                                            58%

                           Internet search engines                                                                                         56%

                  Articles in business magazines                                                                                           56%

       Conversations with company employees                                                                                                55%

                                   Business blogs                                                                                    50%

                 Personal or non-business blogs                                                                                46%

                           Social networking sites                                                                           45%

                         Wikipedia or web portals                                                                           44%

                       Corporate communications                                                                     39%

       Senior management speech or interview                                                                  35%

                       A company's own Web site                                                         31%

                Corporate or product advertising                                               25%


C95-98,103. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how
credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat
credible, or not credible at all? (Top 2 Box), Informed publics ages 25-64 in 20 countries

                                                                                 27
In Korea, Mainstream Media Still are the Most Credible
                                    and Digital Media are Rising Up

          80%

                                                                                                                         TV news coverage
                                                                                  Mainstream media
          70%                                                                                                            Articles in business magazine
                                                                                                                         News coverage on the radio
                                                                                                                         Articles in newspapers
          60%
                                                                                                                         Internet search engines
          50%
                                                                                                                         Business blog
                      The Internet general
                                                                                                                         Social networking sites
                                                                                  Digital media
          40%
                                                                                                                         Personal blog or bulletin boards
                            blogs

          30%


          20%


          10%


           0%
                            2006                        2007                         2008                        2009



C95-110. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how
credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat
credible, or not credible at all? (Top 2 Box), informed publics ages 35-64 in 18 countries (Korea data shown only)

                                                                                   28
Trust Wanes for Traditional Information Sources Globally
                                     Ranking Stays Consistent

                                                                       2008            2009
      100%

       90%

       80%

       70%

                                           57%
                   56%
       60%
                                                                   49%                     49%                      49%
                             47%                                                                                                          47%
       50%                                           44%
                                                                             40%                     38%                      36%
       40%                                                                                                                                       34%
       30%

       20%

       10%

         0%
              Stock or industry            Articles in          Conversations News coverage Television news                                Articles in
               analyst reports             business            with your friends on the radio  coverage                                   newspapers
                                           magazines              and peers


C95-98,103. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how
credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat
credible, or not credible at all? (Top 2 Box), Informed publics ages 35-64 in 18 countries

                                                                                 29
Korea Ahead of Global Trends in the Trust of New Digital Communications
  Korea is an ideal test bed for engaging online audiences in meaningful dialogue (before other global
                                                markets)
                                                                     Global                           Korea
    100%

     90%

     80%

     70%
                                                                                                        60%
     60%
                                                                                                                                 47%                47%
     50%                    43%                      42%
                                                                              38%
     40%                                                                                     34%
                 27%
     30%                                                            23%
                                                                                                                       19%
                                                                                                                                             16%
     20%                                   15%

     10%

       0%
               Free content Social networking A company‘s own Internet search                                      Business blogs          Personal or non
             sources, such as sites (such as      website       engines e.g.                                                              business blogs or
               wikipedia or    MySpace or                      Google news,                                                                bulletin boards
                webportals      Facebook)                       Yahoo news




C95-98,103. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how
credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat
credible, or not credible at all? (Top 2 Box), Informed publics ages 35-64 in 18 countries (Korea data shown only)

                                                                                 30
Trust in ‗Non-Controlled‘ Digital Information Rises in Korea
                                 Overtakes Company‘s Own Website
           Organizations in Korean should engage with online audiences in meaningful dialogue
                                                                       2008            2009
      100%

       90%

       80%

       70%

       60%

       50%
                                              43%                                             42%
                                                                                                                                          38%
       40%
                                                                                                                           32%
       30%                25%                                             25%

       20%

       10%

         0%
                                                                                                                     A company‘s own website
                 Free content sources, such as                  Social networking sites (such as
                    wikipedia or webportals                         MySpace or Facebook)



C95-98,103. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how
credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat
credible, or not credible at all? (Top 2 Box), Informed publics ages 35-64 in 18 countries (Korea data shown only)

                                                                                 31
Employees More Trusted than Corporate Communications in Korea

                            2009                                                                       2008                2009
100%
          Employees
90%
          Trusted
          More
80%

70%

60%             55%

50%
                                                                   40%           39%
40%                                   35%                                                             35%
                                                                                                                    31%
30%                                                                                                                                      25%    25%

20%

10%

 0%
                                                                                                   A company‘s own
        Conversations      Live                                    Corporate                                                       Corporate or product
        with company communication                           communications such                       website                         advertising
         employees    such as a CEO                            as press releases,
                         speech                               reports and emails



 C99-101,109,110. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell
 me how credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible,
 somewhat credible, or not credible at all? (Top 2 Box), Informed publics ages 25-64 in 18 countries

                                                                                   32
Experts Trusted As Spokespeople over CEOs and Public Officials in Korea
            Employees and ‗people like me‘ exert powerful influence (private sources of information)

                                                                        2008          2009
   100%

     90%

     80%
                                                                                                 Regular Employees on
     70%
                                                                                                 credibility par with CEOs
                                    61%
               57%      57%
     60%                                                                      55%
                                                         50%
                                             47%
     50%                                                          45%                  45%
                                                                                                                        41%
                                                                                                            36%
     40%
                                                                                                                                  33%   33%
                                                                                                   27%                                        26%
     30%

     20%

     10%

      0%
              An academic or      Financial or           A person like         Non-profit       Regular employee CEO of company     Government
               expert on that   industry analyst           yourself          organization or      of a company                  official or regulator
                company's                                                         NGO
            industry or issues*                                              representative
               *asked as “an
             academic” in 2008



D112-118. [TRACKING] Now I‘m going to read you a list of people. In general, when forming an opinion of a company, if you heard
information about a company from that person, how credible would the information be—extremely credible, very credible, somewhat
credible, or not credible at all? (Top 2 Box) Informed publics 35-64 in 18 countries

                                                                                 33
Informed Publics Need Information from Multiple Sources, Multiple Voices
                              7/10 need to hear it 3-5 times to believe it in Korea

                                                      Don‘t know/refusedOnce
                                                                        (1) 2%                          Twice
                                                            (vol) 2%
                                         Ten or more times                                              (2) 9%
                                             (10+) 13%


                           Six to nine times
                                (6-9) 5%

                                                                                                                             3-5 times
                                                                                                                                70%

                                                                                                                              Three times
                                                                                                                                (3) 46%


                          Four or five times
                             (4-5) 24%




C111. Think about everything you see or hear every day about companies, whether it is positive or negative. How many times in general do
you need to hear something about a specific company to believe that the information is likely to be true? Please give me a number.
25-64 Informed publics

                                                                                  34
4


                  The Business Case for Trust
Reputation, Sales, and License to Operate Driven by Trust and Transparency




                                           ―Trust is the cornerstone for the
                                         survival of an enterprise and a society.
                                        As an established brand in the country's
                                         dairy sector, Sanlu's growth originated
                                             from people's confidence in it.‖


                                                     – China Daily
Drivers of Trust in Business in Korea (Top 4 Factors)
                              Trusted Quality and High Quality Products on Top

                                                          Is a company I trust                                                                                  92%

                               Offers high quality products or services                                                                                         91%

                                    Creates and keeps jobs in your area                                                                                        89%

             Has a strong commitment to protect the environment                                                                                            88%

                 Is an innovator of new products, services or ideas                                                                                        87%

                                              Has a strong financial future                                                                                87%

Commits time, money and resources to the greater public good                                                                                              85%

                          Is a company that treats its employees well                                                                                     85%

          Communicates frequently and honestly on its business                                                                                           84%

                                                       Gives value for money                                                                             83%

      Stays within the spirit and the letter of the law in [country]                                                                               77%

                             Has senior leadership that can be trusted                                                                       68%




B62-73. When you think of good and responsible companies, how important is each of the following factors to the overall reputation of the
company? Please use a nine-point scale where one means that factor is ―not at all important‖ and nine means it is ―extremely important‖ to
overall reputation. (Top 4 Box) 25-64 Informed publics in 20 countries

                                                                                    36
Communication and Trust More Important for Reputation than Value for Money
                      in Korea (bucks global trend)

                                                                                                                                              84%
Communicates frequently and honestly on its business
                                                                                                                                                    91%




                                                                                                                                                     92%
                                               Is a company I trust
                                                                                                                                                    91%




                                                                                                                                             83%
                                            Gives value for money
                                                                                                                                                    91%




                                                                          Korea            Global


B62-73. When you think of good and responsible companies, how important is each of the following factors to the overall reputation of the
company? Please use a nine-point scale where one means that factor is ―not at all important‖ and nine means it is ―extremely important‖ to
overall reputation. (Top 4 Box) 25-64 Informed publics in 20 countries

                                                                                    37
Through Personal Action, Trust Has Tangible Benefits


                        Personal actions taken with trusted and distrusted companies in Korea
                  –                                                                                                                             +
                      75%                                                                                                   92%
                        Refused to buy their products/services                             Chose to buy their products/services

                   79%                                                                                                82%
                        Criticized them to a friend or colleague                           Recommended them to a friend or colleague

                                                                                                             69%
                                                                                           Paid a premium for their products/services

                                       50%                                                                65%
Shared negative company opinions/experiences online                                        Shared positive company opinions/experiences online

                                                     29%                                     46%
                                                                  Sold shares              Bought shares

 B74-78 Thinking back over the past 12 months, have you taken any of the following actions in relation to companies that you trust? Please
 answer yes or no to each action.
 B79-82. Still thinking about the past 12 months, have you taken any of the following actions in relation to companies that you do not trust?
 Please answer yes or no to each action. Informed publics 25-64 in 20 countries

                                                                                      38
How Should Business Act When Problems or Difficulties Arise?


                                        Act quickly to correct problems                                                                                      73



Make significant changes so the problems don’t happen again                                                                                             63



                        Admit their mistakes when things go wrong                                                                                      62


       Make full public disclosure about the problems and their
                                                                                                                                                   60
                                causes
  Partner with governments, or other third parties to solve the
                                                                                                                                                  58
                         problems
  Have senior executives take a visible lead in communicating
                                                                                                                                             49
                      about the problems
             Fire any executive or employee found to be guilty of
                                                                                                                                            47
                                 wrongdoing

Cap pay for executives who are accountable for the problems                                                                           44




 B83-90. How much would you trust companies to take the following actions when problems or difficulties arise? Please use a 9-point scale
 where one means that you ―DO NOT TRUST THEM AT ALL‖ and nine means that you ―TRUST THEM A GREAT DEAL‖ to take this action
 when problems arise. [ROTATE ITEMS; REPEAT SCALE ONLY AS NECESSARY] (Korea Data Shown Only)

                                                                                   39
How Trust Lends Support for Business Activity in Korea
          Less than majority would allow foreign companies to take a controlling interest, even if trusted

                        Sell their products or services in your market                                                                              58




             Pursue changes in local laws or changes in planning
                                                                                                                                               51
                                 permission




Seek preferential treatment for tax, employment or environment                                                                                49




        Have foreign investors take a controlling interest in local
                                                                                                                                    37
                              companies




 B91-94. Thinking now about how companies operate in your country, how supportive would you be towards a good and responsible company
 being allowed to… [INSERT FIRST]? Would you be not at all supportive, not very supportive, neutral, somewhat supportive or very supportive
 towards a company operating in your country taking this action? [ACCEPT ONE RESPONSE]

                                                                                  40
5


                         Rebuilding Trust
                  The Power of Public Engagement



  ―IT services are unlike hardware or
    software in that they focus on a
 relationship with a ‗trusted partner,‘
 rather than on a product. We believe
Satyam‘s difficulties have considerably
  diminished its ability to retain and
           inspire this trust.‖

   – Partha Iyengar, Vice President,
    Distinguished Analyst, Gartner



                                          Ramalinga Raju, Chairman, Satyam Computers
Public Engagement: A Strategy for Changing
                   Policy and Communication



Private Sector                   Mutual Social
 Diplomacy                       Responsibility




                    Shared                         Continuous
                   Sacrifice                      Conversation
Private Sector Diplomacy       Private Sector    Mutual Social
                                                   Diplomacy        Responsibility




Shape policy on world‟s most pressing                                Continuous
                                                 Shared Sacrifice
                                                                    Conversation
problems, including ones that don‟t concern
company‟s industry

Partner with government, NGOs to drive
decision-making and set strategy on major
societal issues


― …Come together—government, NGOs and
business—in new approach to solving big
problems facing our country. … This can work.‖

    – H. Lee Scott, Jr.,
    President and CEO, Wal-Mart
Private Sector    Mutual Social
                 Mutual Social Responsibility     Diplomacy        Responsibility




Benefit society and the bottom line                                 Continuous
                                                Shared Sacrifice
                                                                   Conversation


Integrate approaches to societal
problems into products and services

Involve employees and customers in
decisions and actions about company‟s
social responsibility



Starbucks invites customers to
partner as a force for good
Private Sector    Mutual Social
                        Shared Sacrifice                 Diplomacy        Responsibility




Set collaborative tone for company:                                        Continuous
                                                       Shared Sacrifice
                                                                          Conversation
we‟re all in this together

Equitable compensation (executive pay cuts, bonus
forfeiting) sends powerful message

Communicate with employees, welcome their voices


                       ―Heavy equipment maker Caterpillar
                       Inc announced in late December it
                       would cut executive pay in half, and
                       many salaried employees would see
                       cuts of as much as 15 percent.‖

                           – Wall Street Journal
Continuous Conversation    Private Sector    Mutual Social
                                                Diplomacy        Responsibility




Be agile and “of the moment”                                      Continuous
                                              Shared Sacrifice
                                                                 Conversation


Inform, don‟t control the
conversation

Say... then do as you say



Johnson & Johnson among first
companies to join public
conversation on health
About the Edelman Trust Barometer

                             The 2009 Edelman Trust Barometer is the
                             firm‟s 10th trust and credibility
                             survey. The survey was produced by
                             research firm StrategyOne and consisted of
                             30-minute telephone interviews using the
                             fielding services of World One from
                             November 5–December 14, 2008. The 2009
                             Edelman Trust Barometer survey sampled
                             4,475 informed publics in two age groups
                             (25-34 and 35-64). All informed publics
                             met the following criteria: college-educated;
                             household income in the top quartile
                             for their age in their country; read or watch
                             business/news media at least several
                             times a week; follow public policy issues in
                             the news at least several times a week.

                             For more information, visit
                             http://www.edelman.com/trust or call +212-
                             704-4834.




                        47
About Edelman & Edelman Korea

                            Edelman is the world‟s largest independent PR
                            firm, with 3,400 people in 54 offices around the
                            world. Recent industry awards include „Large
                            Agency of the Year (PRWeek, 2007 and 2008),‟
                            and „Global Agency of the Year (Holmes Report,
                            2008).‟ CEO Richard Edelman was honored as
                            “2007 Agency Executive of the Year” by both
                            Advertising Age and PRWeek.

                            Edelman continues to set the New PR Standard
                            in Korea, and was awarded „PR Agency of the
                            Year‟ and „International Campaign of the Year‟
                            in 2008 by the Korea Public Relations
                            Association.

                            For more information, and to access our annual,
                            proprietary research, please visit
                            www.edelman.com / www.edelman.co.kr.




                       48
2009 Edelman Trust Barometer

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2009 The Edelman Trust Barometer Korea Report

  • 1. 2009 Edelman Trust Barometer Korea Report
  • 2. 2009 Edelman Trust Barometer at a glance Tenth edition, fourth to include Korea data 4,475 people in 20 countries on 5 continents Ages 25 to 64 - Two age groups concurrently (25~34 and 35~64) “Opinion elites” meeting the following screening criteria: - College-educated - In top 25% of household income per age group in each country - Report significant media consumption and engagement in business news and public policy
  • 3. A Decade of Insights from the Edelman Trust Barometer 2001 Rising Influence of NGOs 2002 Fall of the celebrity CEO 2003 Earned media more credible than advertising 2004 U.S. companies in Europe suffer trust discount Trust shifts from “authorities” to peers 2005 “A person like me” is most credible spokesperson 2006 Koreans more likely to criticize companies they distrust 2007 Business more trusted than government and media Korea leads the world in trusting the internet and blogs in sharing credible information 2008 Young influencers have more trust in business Rising trust in Government, Media and NGOs but Korean business facing eroding trust overseas 3
  • 4. What a Difference a Year-and-a-Half Makes May 14, 2007 January 19, 2009
  • 5. Key Themes in 2009 for Business in Korea • Trust in business takes major hit in Korea, particularly among financial, automotive and, surprisingly, healthcare sectors: 7/10 people trust business less compared to last year Koreans trust business less compared to rest of Asia-Pacific as well as China, India, Japan and Indonesia Koreans lost faith in American businesses but European companies maintain levels of trust despite troubling economic conditions in 2008 • Young opinion leaders lose optimism and faith in Korean institutions: Trust eroded in business from 52% in 2008 to 32% in 2009 Trust in the media drops from 60% to 38% • The NGO opportunity in Korea: Korea is significantly more trusting of NGOs compared to Asia-Pacific as a whole as well as individual countries like Japan and Australia • Rise of ‗authentic‘ employee and digital communications: Trust in employees as information sources shoots up from 28% to 40% Trust in social networks almost doubles from 24% to 45% and conversations with peers and friends rises from 40% to 62% • Communication and trust more important for reputation than value for money Value for money scores 68% versus global score of 91%, even during prevailing downturn, and follows other reputation factors like frequent communication and trusted company
  • 6. 1 The State of Trust 2009 ―Every financial system depends on trust...We are in a full-blown crisis because investors and financial managers—the people who run banks, investment banks, hedge funds, insurance companies—have lost that trust.‖ – Robert J. Samuelson, Newsweek Richard S. Fuld Jr., former CEO, Lehman Brothers
  • 7. 7 out of 10 in Korea Trust Business Less Following Year of Economic Troubles A lot more 1% A little more 8% 16% A lot less 22% The Same 53% A little less A60 Thinking about everything you have read, seen, or heard about business in the last year, in general, do you trust corporations a lot less, a little less, the same, a little more, or a lot more than you did at the same time last year? (Bottom 2 Box: Trust less) 25-64 Informed publics in 20 countries 7
  • 8. 7 out of 10 in Korea Trust Business Less Following Year of Economic Troubles % who trust companies less 100% 90% 83% 79% 77% 80% 74% 73% 69% 67% 67% 67% 66% 70% 62% 62% 61% 60% 56% 55% 54% 50% 49% 49% 50% 40% 32% 30% 21% 20% 10% 0% A60 Thinking about everything you have read, seen, or heard about business in the last year, in general, do you trust corporations a lot less, a little less, the same, a little more, or a lot more than you did at the same time last year? (Bottom 2 Box: Trust less) 25-64 Informed publics in 20 countries 8
  • 9. Young Koreans Less Trusting of Business Compared to Rest of Asia, Similar to Many Western Countries Trust in business <50% among 25-to-64-year-olds Trust in business >50% among 25-to-64-year-olds
  • 10. Trust in Business in Korea Low Compared to Asia Pacific % who trust Business 100% 90% 80% 71% 70% 63% 62% 62% 57% 60% 50% 43% 39% 40% 30% 20% 10% 0% Korea Asia Pacific India China Japan Indonesia Australia A9. [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that institution to do what is right. Please use a 9-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEALquot;. The higher the number the more you TRUST them to do what is right. Let's start with… [INSERT FIRST. RANDOMIZE. ACCEPT ONLY ONE RESPONSE]. (Top 4 Box), informed publics aged 25-64 10
  • 11. Older (35-64) Opinion Elites‘ Overall Trust in Business in Korea, However, Remains Steady % who trust business to do what is right 2008 2009 100% New Trust Down Trust Steady Trust Up additions 90% in 2009 80% 75% 74% 71% 69% 68% 70% 65% 63% 65% 62% 61% 61% 58% 60% 55% 54% 51% 51% 49% 49% 49% 47% 50% 47% 45% 45% 45% 45% 45% 45% 43% 42% 41% 41% 39% 40% 39% 38% 40% 35% 33% 30% 29% 30% 27% 20% 10% 0% A10. [Business in general TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEALquot;. (Top 4 Box) Informed publics 35-64 (global 18 countries, excluding Australia, Indonesia) 11
  • 12. Trust in Business in Korea and Europe Remains Steady despite Major Drop in US 20 point drop in 60% 58% US US UK/France/Germany Korea 55% 53% 51% 49% 50% 48% 48% Enron, the dot-com bust and September 11 46% 46% 45% 44% 44% 45% 43% 41% 40% 40% 38% 38% 36% 36% 36% 34% 35% 35% U.S. is the new Europe 32% 30% 2001 2002 2003 2004 2005 2006 2007 2008 2009 A10. Business in general [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEALquot;. (Top 4 Box) Informed publics 35-64 in the United States. 12
  • 13. Older (35-64) Opinion Elites‘ Faith Remains Unwavered 2008 2009 100% 90% 80% 70% 60% 59% 57% 60% 55% 50% 45% 43% 40% 38% 40% 30% 20% 10% 0% Business Media Government NGOs NB: changes in Business, Media and NGO are statistically significant with this data set A8-11. [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEAL.‖ The higher the number, the more you TRUST them to do what is right. (Top 4 Box) Informed publics 34 (global 20 countries – Korean Data shown only) 13
  • 14. Young (25-34) Opinion Elites Lose Faith in Korea Institutions: Business, Media and the Government 2008 2009 100% 90% 80% 70% 60% 60% 60% 52% 50% 44% 42% 38% 36% 40% 32% 30% 20% 10% 0% Business Media Government NGOs NB: changes in Business, Media and NGO are statistically significant with this data set A8-11. [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEAL.‖ The higher the number, the more you TRUST them to do what is right. (Top 4 Box) Informed publics 25-34 (global 20 countries – Korean Data shown only) 14
  • 15. The NGO Opportunity in Korea NGOs most trusted institution in Korea and Globally, but not in Asia Pacific as a region % who trust each institution 100% NGOs Business Media Government 90% 80% 70% 58% 57% 56% 60% 54% 52% 51% 50% 47% 50% 45% 43% 39% 37% 40% 30% 20% 10% 0% Global Total Korea Asia Pacific A8-11. [TRACKING] I am going to read you a list of institutions. For each one, please tell me how much you TRUST that institution to do what is right. Please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEAL.” The higher the number, the . more you TRUST them to do what is right. (Top 4 Box) Informed publics 25-64 (global 20 countries) 15
  • 16. Technology Remains Most Trusted Industry Sector Globally 2009 2008 76% Technology 77% 66% Biotech/life sciences 65% 57% Health care industry 61% 57% Automotive 62% 55% CPG manufacturers 55% 55% Energy 57% 55% Retail 59% 55% Food N/A 53% Pharmaceuticals 56% 50% Entertainment 53% 45% Banks 56% 42% Media companies 46% 40% Insurance 45% A25-37. [TRACKING] Now I would like to focus on your trust in different industry sectors. Please tell me how much you TRUST businesses in each of the following industries to do what is right. Again, please use a nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEAL.‖ (Top 4 Box) Informed publics 35-64 in 18 countries 2008-2009 16
  • 17. Trust Falls for Most Sectors in Korea, with Some Big Losers 100% Significant Losses in Trust, >10% 2008 2009 90% 81% 78% 80% 73% 73% 71% 69% 68% 68% 70% 65% 63% 61% 60% 59% 60% 56% 52% 53% 53% 49% 49% 49% 46% 50% 46% 43% 40% 35% 31% 30% 20% 10% n/a 0% A25-37. [TRACKING] Now I would like to focus on your trust in different industry sectors. Please tell me how much you TRUST businesses in each of the following industries to do what is right. Again, please use a nine-point scale, where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEAL.‖ (Top 4 Box) Informed publics 25-64 in the United States 17
  • 18. US, Chinese, Russian and Irish Companies Big Losers of Trust in Korea Trust in most European-based companies remains stable (i.e. non-significant changes) 2008 2009 -17 -17 -18 -16 100% 90% 81% 77% 76% 77% 76% 76% 80% 74% 73% 74% 71% 69% 66% 70% 61% 61% 58% 60% 55% 54% 52% 49% 46% 50% 44% 39% 39% 40% 28% 30% 23% 20% 10% 10% 0% A12-24. [TRACKING] Now I would like to focus on global companies headquartered in specific countries. Please tell me how much you TRUST global companies headquartered in the following countries to do what is right. Use the same nine-point scale where one means that you quot;DO NOT TRUST THEM AT ALLquot; and nine means that you quot;TRUST THEM A GREAT DEAL.‖ (Top 4 Box) Informed publics 35-64 in 18 countries 18
  • 19. 2 Lack of Trust Triggers Call for Shared Responsibility ―...our problem is not just a deficit of dollars. It‘s a deficit of accountability...a deficit of trust.‖ – Barack Obama
  • 20. Call for Stricter Regulations and Greater Control over Business Present in Korea, although Less Certainty Compared to Global and Asian Trend Informed Publics, Globally Informed Publics, Korea Agree, 65% Disagree, Disagree, (64% in 33% 22% Asia Agree, 41% Pacific) Neither Agree nor Dont know, Neither Disagree, 0% Don't agree nor 26% know, 1% disagree, 12% F146. The recent credit crisis and government bail-outs have led to debates on how much governments should intervene to regulate industry or nationalize companies to restore public trust. Please tell me how strongly you agree or disagree that your government should in the future impose stricter regulations and greater control over business across all industry sectors.(Informed publics 25-64 in 20 countries) 20
  • 21. What Should Government Do To Address the Issue Caused by the Recent Financial Crisis? Informed Publics, Korea 2/3 still believe Free Market, 33% government Intervention, intervention is 64% necessary Don't Know, 3% Government should intervene in the activity of banks and the financial industry using whatever means it sees appropriate, including lending money or guaranteeing deposits? OR Government should permit the free market to function independently, allowing banks and other financial institutions to fail or be acquired? F144. Given the recent financial crisis, which one of the following choices comes closest to your view on how your government should respond to prevent future 21
  • 22. Four Global Issues: Who Is Responsible for Causing and Solving? Energy Financial Costs Credit Crisis Access to Global Affordable Warming Healthcare
  • 23. Government and Business Share Responsibility for Causing Global Issues Korea‘s Perspective consistent with global data – responsibility is shared Government and regulators Businesses 100% 90% 80% 75% 71% 71% 71% 70% 64% 64% 61% 61% 60% 50% 40% 30% 20% 10% 0% Energy Costs Financial Credit Crisis Global Warming Affordable Healthcare E. 119-120, E124-125, 129-130, 134-135. Now thinking about (energy costs, financial credit crisis, global warming, affordable healthcare), please tell me how responsible you think each of the following entities are for . contributing to (global issue)? TOP 4 BOX 25-64 informed publics in 20 countries (Korea data only shown) 23
  • 24. Government Held Most Responsible for Solving These Issues Despite being most trusted in Korea, NGOs not considered most responsible for solutions Government and regulators Businesses NGOs 100% 90% 80% 80% 67% 65% 70% 60% 52% 50% 36% 40% 30% 24% 22% 20% 13% 10% 3% 1% 1% 1% 0% Energy Costs Financial Credit Crisis Global Warming Affordable Healthcare E138. And which ONE entity do you think should be MOST responsible for (solving each global issue)? . Informed publics 25-64 in 20 countries (Korea Data only shown) 24
  • 25. Business Has Lost Ability to Lead Unilaterally Must Partner with Others to Solve Global Issues Only businesses in Latin America face greater expectation for partnership than Korean business Partner with governments and third parties Do what it can alone Play no role 100% 90% 83% 75% 80% 69% 66% 65% 70% 61% 56% 60% 50% 40% 35% 40% 33% 31% 29% 23% 30% 15% 20% 4% 10% 2% 3% 2% 2% 2% 1% 0% Global North America EU Asia-Pacific Latin America BRIC Korea E139. Thinking about the role that business should play in helping to solve global issues such as energy costs, the financial credit crisis, global warming, or access to affordable healthcare, which of these following three statements is closest to your view? Business has to partner with governments and advocacy groups to solve these global issues, it cannot do it alone; OR Business should focus on what they themselves can do on these global issues, whether or not governments or others partner with them ; OR Business should not play a part in helping to solve these global issues (Informed publics 25-64 in 20 countries) 25
  • 26. 3 Who Can We Trust? Trust in Information Sources & Spokespeople Declines Across the Board Globally Rise of ‗Authentic‘ Regular Employee and Digital Communications quot;I understand your disappointment, your anger. This situation is perfectly unacceptable.‖ -Daniel Bouton, -former CEO of Société Générale
  • 27. Friends and Peers, along with Experts and Traditional News Sources Most Credible Sources of Information in Korea Conversations with friends/peers 62% News coverage on the radio 62% Stock or industry analyst reports 61% Television news coverage 60% Articles in newspapers 58% Internet search engines 56% Articles in business magazines 56% Conversations with company employees 55% Business blogs 50% Personal or non-business blogs 46% Social networking sites 45% Wikipedia or web portals 44% Corporate communications 39% Senior management speech or interview 35% A company's own Web site 31% Corporate or product advertising 25% C95-98,103. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box), Informed publics ages 25-64 in 20 countries 27
  • 28. In Korea, Mainstream Media Still are the Most Credible and Digital Media are Rising Up 80% TV news coverage Mainstream media 70% Articles in business magazine News coverage on the radio Articles in newspapers 60% Internet search engines 50% Business blog The Internet general Social networking sites Digital media 40% Personal blog or bulletin boards blogs 30% 20% 10% 0% 2006 2007 2008 2009 C95-110. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box), informed publics ages 35-64 in 18 countries (Korea data shown only) 28
  • 29. Trust Wanes for Traditional Information Sources Globally Ranking Stays Consistent 2008 2009 100% 90% 80% 70% 57% 56% 60% 49% 49% 49% 47% 47% 50% 44% 40% 38% 36% 40% 34% 30% 20% 10% 0% Stock or industry Articles in Conversations News coverage Television news Articles in analyst reports business with your friends on the radio coverage newspapers magazines and peers C95-98,103. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box), Informed publics ages 35-64 in 18 countries 29
  • 30. Korea Ahead of Global Trends in the Trust of New Digital Communications Korea is an ideal test bed for engaging online audiences in meaningful dialogue (before other global markets) Global Korea 100% 90% 80% 70% 60% 60% 47% 47% 50% 43% 42% 38% 40% 34% 27% 30% 23% 19% 16% 20% 15% 10% 0% Free content Social networking A company‘s own Internet search Business blogs Personal or non sources, such as sites (such as website engines e.g. business blogs or wikipedia or MySpace or Google news, bulletin boards webportals Facebook) Yahoo news C95-98,103. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box), Informed publics ages 35-64 in 18 countries (Korea data shown only) 30
  • 31. Trust in ‗Non-Controlled‘ Digital Information Rises in Korea Overtakes Company‘s Own Website Organizations in Korean should engage with online audiences in meaningful dialogue 2008 2009 100% 90% 80% 70% 60% 50% 43% 42% 38% 40% 32% 30% 25% 25% 20% 10% 0% A company‘s own website Free content sources, such as Social networking sites (such as wikipedia or webportals MySpace or Facebook) C95-98,103. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box), Informed publics ages 35-64 in 18 countries (Korea data shown only) 31
  • 32. Employees More Trusted than Corporate Communications in Korea 2009 2008 2009 100% Employees 90% Trusted More 80% 70% 60% 55% 50% 40% 39% 40% 35% 35% 31% 30% 25% 25% 20% 10% 0% A company‘s own Conversations Live Corporate Corporate or product with company communication communications such website advertising employees such as a CEO as press releases, speech reports and emails C99-101,109,110. [TRACKING] Now I‘m going to read you a list of places where you might get information about a company. Please tell me how credible you believe each one of them is as a source of information about the company—is it extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box), Informed publics ages 25-64 in 18 countries 32
  • 33. Experts Trusted As Spokespeople over CEOs and Public Officials in Korea Employees and ‗people like me‘ exert powerful influence (private sources of information) 2008 2009 100% 90% 80% Regular Employees on 70% credibility par with CEOs 61% 57% 57% 60% 55% 50% 47% 50% 45% 45% 41% 36% 40% 33% 33% 27% 26% 30% 20% 10% 0% An academic or Financial or A person like Non-profit Regular employee CEO of company Government expert on that industry analyst yourself organization or of a company official or regulator company's NGO industry or issues* representative *asked as “an academic” in 2008 D112-118. [TRACKING] Now I‘m going to read you a list of people. In general, when forming an opinion of a company, if you heard information about a company from that person, how credible would the information be—extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box) Informed publics 35-64 in 18 countries 33
  • 34. Informed Publics Need Information from Multiple Sources, Multiple Voices 7/10 need to hear it 3-5 times to believe it in Korea Don‘t know/refusedOnce (1) 2% Twice (vol) 2% Ten or more times (2) 9% (10+) 13% Six to nine times (6-9) 5% 3-5 times 70% Three times (3) 46% Four or five times (4-5) 24% C111. Think about everything you see or hear every day about companies, whether it is positive or negative. How many times in general do you need to hear something about a specific company to believe that the information is likely to be true? Please give me a number. 25-64 Informed publics 34
  • 35. 4 The Business Case for Trust Reputation, Sales, and License to Operate Driven by Trust and Transparency ―Trust is the cornerstone for the survival of an enterprise and a society. As an established brand in the country's dairy sector, Sanlu's growth originated from people's confidence in it.‖ – China Daily
  • 36. Drivers of Trust in Business in Korea (Top 4 Factors) Trusted Quality and High Quality Products on Top Is a company I trust 92% Offers high quality products or services 91% Creates and keeps jobs in your area 89% Has a strong commitment to protect the environment 88% Is an innovator of new products, services or ideas 87% Has a strong financial future 87% Commits time, money and resources to the greater public good 85% Is a company that treats its employees well 85% Communicates frequently and honestly on its business 84% Gives value for money 83% Stays within the spirit and the letter of the law in [country] 77% Has senior leadership that can be trusted 68% B62-73. When you think of good and responsible companies, how important is each of the following factors to the overall reputation of the company? Please use a nine-point scale where one means that factor is ―not at all important‖ and nine means it is ―extremely important‖ to overall reputation. (Top 4 Box) 25-64 Informed publics in 20 countries 36
  • 37. Communication and Trust More Important for Reputation than Value for Money in Korea (bucks global trend) 84% Communicates frequently and honestly on its business 91% 92% Is a company I trust 91% 83% Gives value for money 91% Korea Global B62-73. When you think of good and responsible companies, how important is each of the following factors to the overall reputation of the company? Please use a nine-point scale where one means that factor is ―not at all important‖ and nine means it is ―extremely important‖ to overall reputation. (Top 4 Box) 25-64 Informed publics in 20 countries 37
  • 38. Through Personal Action, Trust Has Tangible Benefits Personal actions taken with trusted and distrusted companies in Korea – + 75% 92% Refused to buy their products/services Chose to buy their products/services 79% 82% Criticized them to a friend or colleague Recommended them to a friend or colleague 69% Paid a premium for their products/services 50% 65% Shared negative company opinions/experiences online Shared positive company opinions/experiences online 29% 46% Sold shares Bought shares B74-78 Thinking back over the past 12 months, have you taken any of the following actions in relation to companies that you trust? Please answer yes or no to each action. B79-82. Still thinking about the past 12 months, have you taken any of the following actions in relation to companies that you do not trust? Please answer yes or no to each action. Informed publics 25-64 in 20 countries 38
  • 39. How Should Business Act When Problems or Difficulties Arise? Act quickly to correct problems 73 Make significant changes so the problems don’t happen again 63 Admit their mistakes when things go wrong 62 Make full public disclosure about the problems and their 60 causes Partner with governments, or other third parties to solve the 58 problems Have senior executives take a visible lead in communicating 49 about the problems Fire any executive or employee found to be guilty of 47 wrongdoing Cap pay for executives who are accountable for the problems 44 B83-90. How much would you trust companies to take the following actions when problems or difficulties arise? Please use a 9-point scale where one means that you ―DO NOT TRUST THEM AT ALL‖ and nine means that you ―TRUST THEM A GREAT DEAL‖ to take this action when problems arise. [ROTATE ITEMS; REPEAT SCALE ONLY AS NECESSARY] (Korea Data Shown Only) 39
  • 40. How Trust Lends Support for Business Activity in Korea Less than majority would allow foreign companies to take a controlling interest, even if trusted Sell their products or services in your market 58 Pursue changes in local laws or changes in planning 51 permission Seek preferential treatment for tax, employment or environment 49 Have foreign investors take a controlling interest in local 37 companies B91-94. Thinking now about how companies operate in your country, how supportive would you be towards a good and responsible company being allowed to… [INSERT FIRST]? Would you be not at all supportive, not very supportive, neutral, somewhat supportive or very supportive towards a company operating in your country taking this action? [ACCEPT ONE RESPONSE] 40
  • 41. 5 Rebuilding Trust The Power of Public Engagement ―IT services are unlike hardware or software in that they focus on a relationship with a ‗trusted partner,‘ rather than on a product. We believe Satyam‘s difficulties have considerably diminished its ability to retain and inspire this trust.‖ – Partha Iyengar, Vice President, Distinguished Analyst, Gartner Ramalinga Raju, Chairman, Satyam Computers
  • 42. Public Engagement: A Strategy for Changing Policy and Communication Private Sector Mutual Social Diplomacy Responsibility Shared Continuous Sacrifice Conversation
  • 43. Private Sector Diplomacy Private Sector Mutual Social Diplomacy Responsibility Shape policy on world‟s most pressing Continuous Shared Sacrifice Conversation problems, including ones that don‟t concern company‟s industry Partner with government, NGOs to drive decision-making and set strategy on major societal issues ― …Come together—government, NGOs and business—in new approach to solving big problems facing our country. … This can work.‖ – H. Lee Scott, Jr., President and CEO, Wal-Mart
  • 44. Private Sector Mutual Social Mutual Social Responsibility Diplomacy Responsibility Benefit society and the bottom line Continuous Shared Sacrifice Conversation Integrate approaches to societal problems into products and services Involve employees and customers in decisions and actions about company‟s social responsibility Starbucks invites customers to partner as a force for good
  • 45. Private Sector Mutual Social Shared Sacrifice Diplomacy Responsibility Set collaborative tone for company: Continuous Shared Sacrifice Conversation we‟re all in this together Equitable compensation (executive pay cuts, bonus forfeiting) sends powerful message Communicate with employees, welcome their voices ―Heavy equipment maker Caterpillar Inc announced in late December it would cut executive pay in half, and many salaried employees would see cuts of as much as 15 percent.‖ – Wall Street Journal
  • 46. Continuous Conversation Private Sector Mutual Social Diplomacy Responsibility Be agile and “of the moment” Continuous Shared Sacrifice Conversation Inform, don‟t control the conversation Say... then do as you say Johnson & Johnson among first companies to join public conversation on health
  • 47. About the Edelman Trust Barometer The 2009 Edelman Trust Barometer is the firm‟s 10th trust and credibility survey. The survey was produced by research firm StrategyOne and consisted of 30-minute telephone interviews using the fielding services of World One from November 5–December 14, 2008. The 2009 Edelman Trust Barometer survey sampled 4,475 informed publics in two age groups (25-34 and 35-64). All informed publics met the following criteria: college-educated; household income in the top quartile for their age in their country; read or watch business/news media at least several times a week; follow public policy issues in the news at least several times a week. For more information, visit http://www.edelman.com/trust or call +212- 704-4834. 47
  • 48. About Edelman & Edelman Korea Edelman is the world‟s largest independent PR firm, with 3,400 people in 54 offices around the world. Recent industry awards include „Large Agency of the Year (PRWeek, 2007 and 2008),‟ and „Global Agency of the Year (Holmes Report, 2008).‟ CEO Richard Edelman was honored as “2007 Agency Executive of the Year” by both Advertising Age and PRWeek. Edelman continues to set the New PR Standard in Korea, and was awarded „PR Agency of the Year‟ and „International Campaign of the Year‟ in 2008 by the Korea Public Relations Association. For more information, and to access our annual, proprietary research, please visit www.edelman.com / www.edelman.co.kr. 48
  • 49. 2009 Edelman Trust Barometer