Korean Job Discussion Forums

[tombirner]

Hey y'all,

This place is always so helpful... wondering if I could get a few questions answered here, so I don't have to bug my co-teacher like I usually do (she has some big test on Sunday- she's been talking about it for a year and is totally stressed out and studies all day).

First, I'm an American living outside Gwangju. Can I apply for pension in Seoul? Anyone know how complicated this is, or how much I'll make in a year? Do I need a copy of my American bank book (as well as my plane ticket), or will a Korean bank book suffice? I've heard different things on this. Also, how long before it shows up in my account?

Second, the bank issue. I'd like to open a new bank account before I leave, because I'll be doing a winter camp but apparently they only give you a C4 visa, which doesn't include an alien registration card. My contract is up and my visa is finishy on November 2nd. I was going to try to open a new account on November 3rd. Is that stuff all computerized, or do you think I'll be able to open an account with a passport and my alien card (even if it finishes the day before)?

Ha, just looked and noticed it has its expiration date listed. So never mind on that.

Lastly, on the subject of bank accounts, anyone have any suggestions for a solid bank that has some English spoken, online banking capabilities, and an international ATM?? And what will I need to transfer money home? Home bank address, phone number, account and routing number?? Is that it??

Yeah, kind of long-winded here... totally stressed about all this, so maybe someone feels like helping a stranger.

[Underwaterbob]

I've heard that KookMin bank (KB*) now lets you send money home via their ATMs. I'm with them, but haven't checked it out yet. I've never had any problems with them, but honestly make minimal use of their services. I can't help you with the other stuff, sorry.

[armatis]

Hi, I tried the ATM funds transfer service at my branch (KB), and it didn't work. Asked inside, and they said that is was only available for nationals. The funny part is that the instructions for how to use the ATMs to do this were written in *English* and Korean. The tellers said they also thought it was strange that they printed it in English if foreigners couldn't use the service...

[Draz]

[OiGirl]

You don't have to close your bank account when you leave the country/your visa expires.

I have been successful in transferring money to the US with my KEB EasyOne account.

[tombirner]

Anyone know if Gwangju bank has online banking capabilities??

[maingman]

www.kbstar.com

[Arthur Dent]

Hi,

Your pension contributions should be noted on your pay sheet. The refund you receive will include the share your employer pays (half). Be certain your employer has indeed contributed to the Pension plan.

http://www.nps.or.kr/jsppage/english/main.jsp

You must supply them with full information about your bank account in your home country.

You will be asked to complete a form. Make certain you bring your Korean ID card and even passport just in case. Also bring the details of your flight out of the country.

Once your contributions for your final pay have been processed, the whole amount of your contributions will be sent. They will let you know how much you have contributed already and give you a fairly accurate amount of the total expected. It can take up to 6 weeks, or as little as 4.


You cannot receive your refund inside Korea. Wait until you return before opening another account. Close your original account. However, see below for more comment on this.


There should be a branch of the National Pension Service in your city.

Remember to visit the Immigration office before your visa expires if you intend to stay in Korea past your work visa expiry date. There is no grace period! You must leave by midnight on the expiry date of your working visa.

However, they do offer extensions of various lengths for non working stays once your visa has expired, as long as you apply for it before said visa expires.
I don't know the details of this. They may ask where you intend to stay and want to see a plane ticket with a confirmed date of departure. Not a big deal however.

If you do not do this, it may reflect poorly on you and cause you some level of difficulty for your return to to do the winter camp. Best deal with it asap.

If you get to the airport, the airline check-in worker will ask for your ID card and if it has expired you will be asked to visit the immigration office at the airport before you can check in for your flight. If you have overstayed, they are within their rights to fine you for it.
If you have not, they will simply ask for your card and then check you in.

If you have extended your stay on a tourist basis, they may already have had you turn in your card. In any case, visit the Immigration office before your visa expires and be sure you are completely clear on what they expect.

Why pay when proper preparation can prevent this?

It may be possible and completely legal to maintain your account after you have left, especially as you plan to return for the winter camp. However, I am not certain how this will affect your pension refund, especially given the fact that you will return on a different visa.

Best to visit the offices of the pension plan and immigration and be completely clear about your intentions. Don't just take the word of everyone on Dave's.

I have heard nothing good about international debit cards from banks here. If you intend to travel and want to keep your money safe somewhere, simply transfer it to your home account and use your debit card from there. This should work in most countries. Better would be to simply buy travelers checks. There is an American Express office in downtown Seoul but you should visit them on a weekday. Last time I visited, their hours on weekends were either very limited or non-existent.

It is very near the large Kyobo book store and the American embassy in the Gwanghwamun area, but on the other side of the street. I haven't been there for over a year. You should be able to find a number or directions/address through the Amex website. Do not use Korean bank travelers checks.


Edit; Just looked at the calendar, better do this tomorrow. Monday is too late! I'll PM you.