Korean Job Discussion Forums

[dogshed]

If you believe this guy it is.

http://finance.yahoo.com/expert/article/futureinvest/52145;_ylt=AqRgU8lSV06YdnTbgT4_Iuy7YWsA

[TexasPete]

Why anyone would invest a dime in this country after having experienced it long-term is beyond me. Sure, i suppose there's money to be made, but the sheer corruption, mismanagement, unproductiveness and lies just makes it too risky in my opinion.

[some waygug-in]

I have a question about this, perhaps it will sound stupid, but here goes:

I am on an E2 visa. Suppose I invest a lot in the Korean Stock market and just happen to do well. What do I do with the money when I leave?
I believe I am only allowed to take $10,000 US (or that equivalent) out of the country during a one year period. Please tell me if this is wrong and if so, what are the rules?

Thanks

[Juregen]

[some waygug-in]

Thank you.

[some waygug-in]

Thank you.

[some waygug-in]

Thank you.

[Pak Yu Man]

[halfmanhalfbiscuit]

You're taxed on interest profits.About 8% on bank investments.Just re-couped mine today.Made 235K on a 5 million 1 year investment.Not much,but better than sticking it under the bed.

DO NOT go into investment funds on anything like trust.Your money may be safe...if you keep it there for 5 years.5 years you get the original back.Go f yourselves.

I lost 400K with ChoHung.You're a top bank-actually they were subsumed by ShinHan,but,how can they tell me they were so inept as to lose money??Still rankled.Once bitten,twice indignant.

Company going out of business,being acquired,little or no accountability.

Stock investments,performing funds,how's the tax on profits on those?

[caniff]

I teach a very high level executive of the Mirae Assets firm (biggest mutual fund company in Korea). I'll withhold his name, but he is a financial rockstar in Korea.

This guy orchestrated a return on investment, for the last 7 years, of almost 800%. He has 3 million current Korean investors, and oversees almost 70 trillion won in capitalization daily.

I told him that if he screws up, he had better take the first plane out of Korea. He laughed, then agreed.

But, damn, that's a fat return on the money. I knew I shouldn't have bought that ostrich farm.

We're going to dinner Saturday night. Any questions you would like me to surreptitiously ask? This guy has Korean journalists beating down his door, but I have unrestricted access as the 'unassuming English teacher'.

The guy is without a doubt a money genius, so if you have a query, I will ask and get back to this thread with his reply.

Just his general take on things, of course.

[rippa]

Try to steer him into providing advice for foreigners: resident and non-resident

Use the theme of Korea becoming a financial hub of Asia

Woori Bank is soon to open 200 branches in China. But I've found little for those here who need investment advice. In major European airports we can find personal banking offices from major firms, courting the expatriate with money to invest.

[regicide]