Korean Job Discussion Forums

earthbound14 · Joined: 23 Jan 2007 Location: seoul

So my wife and I are looking for a house. I have been here for 4 years now with no problems, no tickets, always pay rent, never late paying my credit card, never a problem with work. I'm married to a Korean, have an F-2-1 visa and a very reputable employer. I make a good wage, all above board and haven't sent money home in three years, all my money is in a Korean bank (not looking so good these days....). I have half the money I need for a really big place, a real house (OK large apartment)....for once. We have plans to start a family and a small business in the hopes of staying here a while so the parents in law can be a part of the family's life.

I'm excited and happy and head off to look at a new place, it's perfect.

Go to the bank, ask about a loan to cover half the cost (with interest payments being about 1/3 of my current rent...which I have never missed paying) and a plan to have the loan paid off in less than 2 years.

"No money for you." says the bank Nazi without looking at any of my information.

I'm a little stunned, not one penny, not a single won? Why? I ask.

"You are not Korean." replies the bank Nazi. "You did not choose to become Korean so we cannot lend you any money."

"I didn't know I could choose to become Korean so easily......." I say.
Unfortunately my sarcasm goes unnoticed. "Well, this is fucking racist. Just sparkling!" I say in a clear voice while smiling at the idiot banker. I then say goodbye politely and walk out.

It would seem that yet again I need to work around the problem, find a Korean person willing to sign something for me, or get something for me because the system is unrealistically rasict.... or is it that some people within the system are racist?

EzeWong · Joined: 26 Mar 2008 Location: Seoul

Sounds like he was talking about being of Korean citizenship.

Same rules apply back home, you need to be a citizen and have the residency papers to take out a loan.

Or else, I would take a loan out for over 9000 million won, bail, and stay in Australia sipping on gin and tonic and checking out kangaroos.

Did you go with the misses? Or did this whole thing happen in konglish?

QbertP · Joined: 02 Feb 2007 Location: Seoul

Speaking out of my ass, but I would try again elsewhere with a friendly korean interpreter present(unless you speak excellent korean).

While the individual bank(or bank manager) may have a policy of screwing over the foreigner it is likely that you can find a loan elsewhere.

Try an international such as city bank(though the current economic crisis may make getting a loan difficult).

Oh and just a general question. If your on an f-2 and want Korean citizenship do you have to renounce your previous citizenship. I'm not on an f-2 so it doesn't really matter but i've always liked the idea of dual citizenship.

Edit:
Did i get my visas mixed? F-2 is the gyopo visa and f-4 is the marrige right?

livinginkunsan · Joined: 02 Dec 2006

earthbound14 · Joined: 23 Jan 2007 Location: seoul

earthbound14 · Joined: 23 Jan 2007 Location: seoul

drkalbi · Joined: 06 Aug 2006

You'll probably need a co-signer. Put the loan in your wife's name with her parents as co-signer.

Typhoon · Joined: 29 May 2007 Location: Daejeon

If you are a permanent resident back in NA you can get a loan...in fact it is pretty easy because there are gov't programs to help new residents. In Korea this is not the way it is. Having permenant residence (F2) doesn't mean the same thing it does in the west.

I went through this about 4 years ago now. No bank will give you money and they won't give it to your wife unless she has a good job. That is just they it is in Korea. I went to 6 banks and heard "You are not Korean, so no" at everyone. Nice.

gteacher · Joined: 24 May 2007 Location: Ghost in the machine

aarontendo · Joined: 08 Feb 2006 Location: Daegu-ish

Eh like they said not racism really. Now of course your wife can try to get the loan going I'd imagine. Shouldn't she be going in with ya on something this big?

gteacher · Joined: 24 May 2007 Location: Ghost in the machine

Typhoon · Joined: 29 May 2007 Location: Daejeon

Like I said if the wife doesn't have a pretty good job then no loan. Loans are not easy to get in Korea unless you have a really good stable job, a co-signer or some land/property to borrow against. This all stems from the IMF when Koreans could get loans out of Cracker Jack boxes.

SuperHero · Joined: 10 Dec 2003 Location: Superhero Hideout

earthbound14 · Joined: 23 Jan 2007 Location: seoul

Typhoon · Joined: 29 May 2007 Location: Daejeon

My bad...what I mean is that the equivilent to the F2 spousal visa is considered to be a permanent resident visa in other countries. For example, if my wife applies for a spousal visa she is given permenant residence because it is assumed she will be living with me in Canada permanently. That makes sense doesn't it? However in Korea it is just a spousal visa because...well I am not sure why? However, even with the F5 you will run into the same you are not a Korean problem at banks. Foreigner is as foreigner does.