Korean Job Discussion Forums

[slideaway77]

The word on the street is Korea will be hit hard next year by the credit crisis. I'm from the UK and currently the won weak to the gbp.

The problem is I'm looking for a job. I missed the boat for the PS jobs and now face the prospect of another hagwon job. If things get rough how rough will it get? How many hagwons do you think will go under?

[loralh]

I'm sure there are still PS jobs out there...

[cedarseoul]

if you're signing on to a hagwon, pick a reputable chain and select a campus (preferably franchise) that's been in place for awhile, that has plenty of students, and that shows signs of sufficient money and a successful program (new computers, plenty of resources, high retention of teachers). such a hagwon will not likely fold in the near future, even if the economy contracts substantially. korea is a debt-friendly society, and korean parents understand that english proficiency is key to their children's success.

incidentally, if i was shopping around for a school, i would aim for one of the "prestige" academies with higher admissions standards and higher prices, as these tend to attract wealthy families who are unlikely to be drastically impacted by the recession. my academy, a poly franchise, is doing quite well, particularly in our pre/kinder - lower elementary classes. this is in spite of the economic situation, and a trend toward some of the hot new academies.

[cdninkorea]

I believe that a recession is two consecutive quarters of economic contraction. The economists are predicting a one percent growth in the economy for '09.

If they're right, it won't be a recession; just a bad year.

[cedarseoul]