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Real Reality
Joined: 10 Jan 2003
Location: Seoul
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 Posted: Thu Feb 28, 2008 10:16 am Post subject: Korean households earned an average? |
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Food, education top 2007 household expenditures
By Limb Jae-un, JoongAng Daily (February 29, 2008)
http://joongangdaily.joins.com/article/view.asp?aid=2886805
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| Korean households earned an average of 3.7 million won ($3,944) a month last year, a 6.7 percent increase from the previous year, and spent 2.8 million won, an increase of 5.8 percent, the report said. The rest went to savings or investment.... |
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sid
Joined: 02 Feb 2003
Location: Berkshire, England
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| Posted: Thu Feb 28, 2008 11:27 am Post subject: |
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The foreign professor -- colleague or hired hand?
Foreign professors do most of the heavy lifting in terms of course loads, devoting themselves almost exclusively to teaching. Nevertheless, they tend to be treated as hired hands, without academic standing, and lacking the possibility of career advancement or tenure. They must submit to yearly contracts (compensated at a rate only 60 percent of their Korean peers) while walled off from the permanent Korean faculty who benefit from travel, research funding, sabbaticals, etc. Moreover, when hundreds of Korean scholars enjoy such perks at American and other foreign universities, something is obviously amiss.... According to the Samsung Group's chairman, Lee Kun-hee, to succeed globally, Korea must forgo the thought that Korea and being Korean is superior, and foreign specialists must be treated with respect.
by John B. Kotch; June 14, 2002; JoongAng Ilbo
http://joongangdaily.joins.com/200206/14/200206142349223599900090109011.html[/quote] |
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DCJames
Joined: 27 Jul 2006
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| Posted: Thu Feb 28, 2008 11:39 am Post subject: Re: Korean households earned an average? |
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| Real Reality wrote: |
Food, education top 2007 household expenditures
By Limb Jae-un, JoongAng Daily (February 29, 2008)
http://joongangdaily.joins.com/article/view.asp?aid=2886805
| Quote: |
| Korean households earned an average of 3.7 million won ($3,944) a month last year, a 6.7 percent increase from the previous year, and spent 2.8 million won, an increase of 5.8 percent, the report said. The rest went to savings or investment.... |
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RR, you're preaching to the choir.
Learn to write some Korean and post on the Korean hagwon owners' /public schools' message boards.
That might get better results that uselessly posting here. |
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bobbyhanlon
Joined: 09 Nov 2003
Location: 서울
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| Posted: Thu Feb 28, 2008 3:27 pm Post subject: |
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3.7m isn't that much for an entire household.
but i think the most important statistic is the fact that they spent 2.8m, which means they are saving 0.9m won per month. thats almost 25% of income being saved. in china the figure is closer to 30%.
compare that to people in western countries, particularly the US in which the savings rate was actually less than zero recently. if this keeps up for the next few decades, we'll all be paying rent to our new east asian overlords.. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Thu Feb 28, 2008 4:12 pm Post subject: |
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| bobbyhanlon wrote: |
| compare that to people in western countries, particularly the US in which the savings rate was actually less than zero recently. if this keeps up for the next few decades, we'll all be paying rent to our new east asian overlords.. |
Is paying a mortgage defined as savings? |
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Atavistic
Joined: 22 May 2006
Location: How totally stupid that Korean doesn't show in this area.
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| Posted: Thu Feb 28, 2008 4:28 pm Post subject: |
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I do NOT believe that most Koreans are saving that much. Face saving on a survey.
Where's the breakdown for whores and singing room girls? |
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mistermasan
Joined: 20 Sep 2007
Location: 10+ yrs on Dave's ESL cafe
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| Posted: Thu Feb 28, 2008 4:45 pm Post subject: |
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| mortage as savings? not if the value of your home has dropped to such an extent that many have. such is throwing "good money after bad". |
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ajgeddes
Joined: 28 Apr 2004
Location: Yongsan
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| Posted: Thu Feb 28, 2008 5:32 pm Post subject: |
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| bobbyhanlon wrote: |
3.7m isn't that much for an entire household.
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I don't know about that. If that was the Seoul average, I would agree with you, but for Korea it isn't that bad. Seoul =/= Korea when it comes to prices. |
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Juregen
Joined: 30 May 2006
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| Posted: Thu Feb 28, 2008 5:52 pm Post subject: Re: Korean households earned an average? |
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| Real Reality wrote: |
Food, education top 2007 household expenditures
By Limb Jae-un, JoongAng Daily (February 29, 2008)
http://joongangdaily.joins.com/article/view.asp?aid=2886805
| Quote: |
| Korean households earned an average of 3.7 million won ($3,944) a month last year, a 6.7 percent increase from the previous year, and spent 2.8 million won, an increase of 5.8 percent, the report said. The rest went to savings or investment.... |
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My Family earns 7M per month, what are you trying to say?
Some teachers earn that amount of Money by themselves, with no need to support the family, what are you trying to say?
They can save 800.000 won per month, what are you trying to say? |
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Unposter
Joined: 04 Jun 2006
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| Posted: Thu Feb 28, 2008 5:57 pm Post subject: |
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I'm not RR but I think he is saying that most FTs are not earning an average income, and probably never will on an E-2 or E-1.
And, that salaries are not keeping up with the Korean average, so most FTs are falling farther and farther behind.
So, I think he wants people to realize this.
What will realizing this do? I donn't know.
Maybe, make them less happy for their 2.2 to 2.5 a month?
Maybe, demand more?
Maybe, just sulk more, who knows...
He is "real" reality. His job is to make everyone feel less rosy. |
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ajgeddes
Joined: 28 Apr 2004
Location: Yongsan
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| Posted: Thu Feb 28, 2008 6:04 pm Post subject: |
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| Unposter wrote: |
I'm not RR but I think he is saying that most FTs are not earning an average income, and probably never will on an E-2 or E-1.
And, that salaries are not keeping up with the Korean average, so most FTs are falling farther and farther behind.
So, I think he wants people to realize this.
What will realizing this do? I donn't know.
Maybe, make them less happy for their 2.2 to 2.5 a month?
Maybe, demand more?
Maybe, just sulk more, who knows...
He is "real" reality. His job is to make everyone feel less rosy. |
Actually, shouldn't it be the opposite? They are making above the average. These are household income, which means usually 3+ people to support. If you put two English teachers in a household, that's over 5 million a month, well above average. |
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Cheonmunka
Joined: 04 Jun 2004
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| Posted: Thu Feb 28, 2008 6:47 pm Post subject: |
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| My Family earns 7M per month |
Does your family have children in it?
I wouldn't let my wife work when she was pregnant. I won't let her work even now my oldest is going to school - shoot, he comes home at 1 pm, and I refuse to send him and his sister to piano to tkd to math to another place while we are both away from home.
When you have kids your income usually becomes a single one. Though I know of some people who put their child into day care from six months and I have seen three month old babies in day care. 
I can't believe it's accepted in society.
I'm lucky to scrape in the average, so that's my household income. The figures are right for me, my wife, and two kids. Our expenditure is 2.5, not including a mortgage but includes the 19 regular bills that we pay each month. |
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Atavistic
Joined: 22 May 2006
Location: How totally stupid that Korean doesn't show in this area.
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| Posted: Thu Feb 28, 2008 7:01 pm Post subject: |
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| ajgeddes wrote: |
| Unposter wrote: |
I'm not RR but I think he is saying that most FTs are not earning an average income, and probably never will on an E-2 or E-1.
And, that salaries are not keeping up with the Korean average, so most FTs are falling farther and farther behind.
So, I think he wants people to realize this.
What will realizing this do? I donn't know.
Maybe, make them less happy for their 2.2 to 2.5 a month?
Maybe, demand more?
Maybe, just sulk more, who knows...
He is "real" reality. His job is to make everyone feel less rosy. |
Actually, shouldn't it be the opposite? They are making above the average. These are household income, which means usually 3+ people to support. If you put two English teachers in a household, that's over 5 million a month, well above average. |
I don't know ANY working mothers, unless they are single. I know there are some, but most married mothers do NOT work. Which means ONE person is earning that income.
Edit: I think. Hasn't RR posted articles saying most women here don't work? |
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shaunew
Joined: 17 Apr 2007
Location: Calgary
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| Posted: Thu Feb 28, 2008 7:43 pm Post subject: |
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| My household includes my wife and son and I. We have a monthly income of 8 million won plus per month and always invest 4 million plus per month. We then put the rest in a safe investment of 7%. I know other foreigners who make more then us and some that make less. Koreans usually have the mother and father working. So that 3.7 million won a month is pretty low. |
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aarontendo
Joined: 08 Feb 2006
Location: Daegu-ish
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| Posted: Thu Feb 28, 2008 7:47 pm Post subject: |
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I guess I'm one of the few who doesn't think the pay is that bad. Dude go to ANY other country with a degree in basketweaving and see how much you will make teaching.
Korea offers excellent compensation for teaching, at least for those who aren't really the most qualified. Now, if you're a PhD holder or something I have no way to comment on that...
Find something else to bitch about besides the salary, it's not that bad. Start a thread about dealing with the people in this country and I'll be more than happy to support that. |
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