Korean Job Discussion Forums

[plus99]

i think wayne and garth would say:


shyeeeah



they made me go on a camping trip last week and i learned about how my owners made their korean fortune. im not seeing any money in this country. i drove an audi when i left the US. every 200 cars i see an audi here. when that ratio changes, ill start believing these claims.

[robot]

8 million... is that it?

You must be talking about a pretty small hagwon.

[Mi Yum mi]

So what? What's your point OP? Put down a large wad of cash and you might be able to make 8 mil a month. There is probably about a 50% chance your business will go under your first year in Korea ( I bet it's higher for a hakwon..trust me I know from experience).

[plus99]

try attacking the argument. why am i seeing no luxury here.

[kprrok]

Is that gross profit? Net profit? Income? 8 million after taxes? before taxes?

And why are you equating Audis with wealth? In Korea, wealth is looked at much differently than in the west. It's not always as apparent here. I know several people who have close to a million bucks in assets, but they don't flaunt it. My school's owner is very well off, but you wouldn't know it by looking at him.

Cars do not equal wealth. I really don't even understand your point. Could you clarify it a bit?

KPRROK

[tzechuk]

[PGF]

ummmmm.... 8 grand is garbage for a bis owner.

i've made 10 /mo working for someone else in the states....

and, Audis are garbage these days....

even the top of the line Mercs have a lot of problems..... if you judge a person by their car... you are an idiot

[OneWayTraffic]

An Equus costs from 45-75 million won according to the little brochure stuck to the cars in the park below.

Here's a flash for you. A sucessful Korean kindergarten will have 100-200 students each paying 350,000-700,000 each per month. These are the Yu chi wons, not the ESL kindies. Some charge less, but get top ups from the government.

Also, according to my wife there's a flat government subsidy per head. Not sure about that or how much it is.

Now a place that I work at, has 160 students all paying 6million won a year. That's almost a billion won a year. There's about 12 staff in all, plus 'visiting teachers.' There's no rent to pay, they've been there since 1980 or so, so they must be freehold by now. Deduct 1.5million a month per head of staff (higher than market), 10 million for materials and extra stuff, 5 million for food, and 3 million for property taxes, ultilities and maintainance and that's a lot of money left over.

[SHANE02]

8 mill?

Someone's lying or a poor business person.

[wylies99]

[busanwolf7]

Any decent hagwon owner makes alot more than 8 mil a month, but I'm sure there are enough out there who don't have a clue what their doing. I've known a couple friends (english teachers) who were making over $4000 a month with various privates and could afford to lease or buy on time any nice car.

[PGF]

[busanwolf7]

I was driving a Chrysler Crossfire in th USA, I bought it for $43,000 and was paying $759 a month. I was bartending at the time, and mostly living on tips----lol. So anything is possible!

[Paddycakes]

Cars are a depreciating asset... why people spend lots of money on them is beyond me.

8 Million a Month net income: Some owners yes, but the vast majority no.

The average Korean probably makes 1.5 to 2 Million a month. If the average Hogwan owner made 8 million, everyone would be doing it.

[Whistleblower]