Korean Job Discussion Forums

[inukshuk]

This is a fun chat. Let's not take out hogwon aggression here, okay?

Hypothetical: The Korean economy crashes. The banks freeze all accounts, only after the corporate sector (and land owners) has withdrawn their funds. All your savings and pay check are frozen, and possibly lost, in your savings account. This actually happened in Argentina. Coincidentally, your contract has ended anyways and English teachers are returning home due to the crisis (your embassy recommends its citizens leave Korea).

Would you lose your 10 million won key/deposit money by government sanctioned action or home/apt. owner action - simply refusing to give your key money back? Would the rules of contract survive? **Home/apt. owners were able to withdrawn their funds before the government freeze.

**This requires a YES or NO answer, followed by your reasoning, explanations or "hogwon aggression" fueled, venting based rants.

**Failure to answer YES or NO will result in a default I DON'T KNOW answer.

**Aggressive fueled answers will result in a default I WORK AT A HOGWON TEACHING CHILDREN profiling.

[inukshuk]

I'll answer my own poll and explain myself after I get some user input.

[itaewonguy]

NO!
it happened alreay 1997 and all was fine!

[thepeel]

Your question is 'would people give their key money back'? It wouldn't be your choice. The school would go behind your back and just get it themselves by making an old dude named kim (that the landlord can't possibly say "no" to call and demand it.

"Rules of contract" only matter if you are 1) korean 2) old 3) a man and the rules benefit an old korean man. Otherwise the rules of contract are whatever an old korean man wants.

[mistermasan]

no key money involved.

[Cheonmunka]

[thepeel]

[inukshuk]

wow, I stated pretty clearly that it is a hypothetical situation and I laid out the criteria. It somewhat resembles what happened in Argentina, although I'm unsure if Argentinian land owners were able to collect their savings.

The posts are comparing to the IMF crisis in Korea. I never mentioned the IMF crisis. I'm posing a hypothetical scenario.

Also, this has nothing to do if someone is Korean. I said YOU.

[inukshuk]

first off, I didn't pose a theory. I gave a hypothetical situation. I didn't bring up the IMF crisis in Korean because it wasn't brutal enough to freeze private accounts. Also, it would be impossible to freeze private accounts in korea because several million koreans would storm the blue house - and the korean government knows it. I gave one example - Argentina.

Let's stick with the hypothetical scenario.

[4 months left]

If you don't get the key money back then you get the apt.

[cbclark4]

What's key money?

[4 months left]

Deposit money you have to pay before moving into an apt. Loosely translated to "jeonse.

[Cheonmunka]

[inukshuk]

IMF brought down Argentina. Check out Naomi Klein's THE TAKE documentary.

[Cheonmunka]

Different place, different situation.