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da_moler
Joined: 11 Nov 2006
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 Posted: Thu Jan 06, 2011 3:17 pm Post subject: staying in Korea long term |
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| What with the deteriorating economic situation back home, is anyone else thinking they may wind up staying in Korea until retirement? Things are pretty easy here, so I could see myself staying, but what will getting old in Seoul be like? Is Korea really a good choice for a long term stay? |
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Radius
Joined: 20 Dec 2009
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| Posted: Thu Jan 06, 2011 3:46 pm Post subject: |
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| I would rather struggle back home than live here the rest of my life. |
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chellovek
Joined: 29 Feb 2008
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| Posted: Thu Jan 06, 2011 4:03 pm Post subject: |
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| Things aren't that bad. |
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oldtactics
Joined: 18 Oct 2008
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| Posted: Thu Jan 06, 2011 4:18 pm Post subject: |
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| If you're serious about staying in Asia, why stay in Korea? Save cash in Korea for a decade and then retire early and buy a house in SE Asia or some other warm climate. |
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brento1138
Joined: 17 Nov 2004
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| Posted: Thu Jan 06, 2011 9:31 pm Post subject: |
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I say stay in Korea if you truly like / love the place. I could see staying here forever, personally, because the place actually interests me. Other foreigners may think I'm insane, but truly, I freaking love this country, for all its good, bad, and ugly. Would never have stayed this long if I hadn't.
However, a mix of greater opportunities back home plus a love for my parents have made me come to the decision that since I have nothing quite tying me to Korea (kids, or wife) I have nothing to lose by leaving this place and setting up again in Canada.
Therefore, my advice to you is this. Things change. In 30 years, South Korea may be struggling with food shortages, high oil prices, and rivals China and Japan forcing them out of competition. You may see the US economy turn around. Remember, that as we get nearer and nearer to peak oil (if we haven't already) that it may be best to live in a country with fewer people and more resources. Korea aint one of them. Just saying.
Move where your heart tells you to. Things change, and betting your life on Korea just because things are a little bit tough back home is a bit of a gamble for your personal happiness, especially if you're not 110% keen on Korea.
So, once again, my advice: Don't move here unless you're head over heels in love with this country. |
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wiganer
Joined: 13 Jul 2010
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| Posted: Thu Jan 06, 2011 10:04 pm Post subject: Re: staying in Korea long term |
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| da_moler wrote: |
| What with the deteriorating economic situation back home, is anyone else thinking they may wind up staying in Korea until retirement? Things are pretty easy here, so I could see myself staying, but what will getting old in Seoul be like? Is Korea really a good choice for a long term stay? |
Have you got advanced qualifications? A related degree? A Korean wife?
It is not like the Korean government will give you any notice or warning once you are surplus to requirements, you'll be gone on the next plane home and there will be nothing you can do about it. The visa set up is designed with that in mind. If you want to stay on in Korea and get the better jobs. Improve your skillset or marry a Korean. |
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hondaicivic
Joined: 01 Jul 2010
Location: Daegu, South Korea
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| Posted: Thu Jan 06, 2011 10:13 pm Post subject: |
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| brento1138 wrote: |
I say stay in Korea if you truly like / love the place. I could see staying here forever, personally, because the place actually interests me. Other foreigners may think I'm insane, but truly, I freaking love this country, for all its good, bad, and ugly. Would never have stayed this long if I hadn't.
However, a mix of greater opportunities back home plus a love for my parents have made me come to the decision that since I have nothing quite tying me to Korea (kids, or wife) I have nothing to lose by leaving this place and setting up again in Canada.
Therefore, my advice to you is this. Things change. In 30 years, South Korea may be struggling with food shortages, high oil prices, and rivals China and Japan forcing them out of competition. You may see the US economy turn around. Remember, that as we get nearer and nearer to peak oil (if we haven't already) that it may be best to live in a country with fewer people and more resources. Korea aint one of them. Just saying.
Move where your heart tells you to. Things change, and betting your life on Korea just because things are a little bit tough back home is a bit of a gamble for your personal happiness, especially if you're not 110% keen on Korea.
So, once again, my advice: Don't move here unless you're head over heels in love with this country. |
1) Japan is sitting on a demographic time bomb right now. Their population will be half of what it is in 30 years
2) China is more likely to suffer from food shortages due to its population size. If they don't die from food shortages, pollution will get them first.
3) good ole Uncle Sam is on the road to bankruptcy and economic collapse soon, (you can thank wall street and the financial elites for this). In 30 years, USA will turn into USSA. |
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red_devil
Joined: 30 Jun 2008
Location: Korea
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| Posted: Thu Jan 06, 2011 10:36 pm Post subject: |
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| oldtactics wrote: |
| If you're serious about staying in Asia, why stay in Korea? Save cash in Korea for a decade and then retire early and buy a house in SE Asia or some other warm climate. |
This is good advice.
For foreigners and even gyopos staying in Korea long term has a lot of financial and legal difficulties as well. Banks will not loan you any money even if you have a non-teaching job or some "sub-prime" lenders might albeit at extortionist interest rates. Therefore buying a nice car, house, etc, become very difficult. (the flip side is that it is Korea and these pesky paperwork things can be circumvented if you know the right people)
Investing and tax laws can be complicated as well as well as possible double taxation for those that make over the $90K (?) limit. This is still not to mention the minor hassles of most Korean systems still not recognizing or allowing foreign registration numbers. And i also noticed that even though a lot of the gov't websites are in English, the information they post can vary and if you call the offices they might say something contrary to what the site states.
If you have kids, International Schools are very expensive (and not getting cheaper) and most of the expat executives i know make sure to have schooling covered in their compensation packages.
Also as a foreigner you'd need to make sure you have a stable income and a job that doesn't lay you off when the times get tough so they can hire 2-3 Koreans for the same price as your salary. Be sure to get a long term contract with buy out/severance package. |
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brento1138
Joined: 17 Nov 2004
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| Posted: Fri Jan 07, 2011 2:12 am Post subject: |
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| hondaicivic wrote: |
1) Japan is sitting on a demographic time bomb right now. Their population will be half of what it is in 30 years
2) China is more likely to suffer from food shortages due to its population size. If they don't die from food shortages, pollution will get them first.
3) good ole Uncle Sam is on the road to bankruptcy and economic collapse soon, (you can thank wall street and the financial elites for this). In 30 years, USA will turn into USSA. |
OK, that's all possible. But remember, many past predictions never came true:
1) Japan was predicted to eventually outshine America and overtake the world as a major power. It didn't.
| Quote: |
| Back in the 1970s and 1980s it was commonplace for pundits--particularly on the left--to predict Japan's ascendance into world leadership. At the time distinguished commentators like George Lodge, Lester Thurow and Robert Reich all pointed to Europe and Japan as the nations slated to beat the U.S. on the economic battlefield. "Japan is replacing America as the world's strongest economic power," one prominent scholar told a Joint Economic Committee of Congress in 1986. "It is in everyone's interest that the transition goes smoothly." |
2) Agreed. China is not the future economic power some predict. But it's sheer mass and size make it appear good on paper. Some say it will overtake the US economy. OK, perhaps. But per person, Americans will live much better lifestyles.
3) Americans may not willingly allow the USA turn into the USSA, but I agree with you, perhaps they'll have no choice. I don't know if the US will go bankrupt. Even if it did, it would be very unwise to underestimate the innovative nature of Americans, and their ability to overcome it. Yes there have been failures (the car industry) but there have been major successes too (Google, Facebook) in emerging markets, or totally stealing major markets away (game industry, like Microsoft Xbox, video game companies now emerging in and basing themselves in America). Hollywood is still on top. The USA makes tons of money. Car industry and others got away with murder. Yeah, they got a huge debt, but if they really needed to, it could be paid off. And the military is so big and technologically advanced, they don't need to pay anything off anyways. I don't see an America shriveling up and dying, I just see it splitting off into two directions, the middle class being destroyed while America as a nation becomes much stronger & richer, at the expense of its people (well, many of them). In the end though, I think smarter minds will prevail and the conservatism will cede the way to liberalism and allow actual change for the better of the whole, but not the individual. So yeah, I agree, expect a more social USA but don't expect them to be totally bankrupt and in financial ruin. |
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da_moler
Joined: 11 Nov 2006
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| Posted: Fri Jan 07, 2011 2:23 am Post subject: |
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| oldtactics wrote: |
| If you're serious about staying in Asia, why stay in Korea? Save cash in Korea for a decade and then retire early and buy a house in SE Asia or some other warm climate. |
Is it that easy? Don't you need a job/visa? |
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da_moler
Joined: 11 Nov 2006
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| Posted: Fri Jan 07, 2011 2:26 am Post subject: Re: staying in Korea long term |
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| wiganer wrote: |
| da_moler wrote: |
| What with the deteriorating economic situation back home, is anyone else thinking they may wind up staying in Korea until retirement? Things are pretty easy here, so I could see myself staying, but what will getting old in Seoul be like? Is Korea really a good choice for a long term stay? |
Have you got advanced qualifications? A related degree? A Korean wife?
It is not like the Korean government will give you any notice or warning once you are surplus to requirements, you'll be gone on the next plane home and there will be nothing you can do about it. The visa set up is designed with that in mind. If you want to stay on in Korea and get the better jobs. Improve your skillset or marry a Korean. |
Yea, I've got pretty advanced qualifications and will soon have a Korean wife. That's why I've been wondering what's best for our future: stay in Korea or head back home. Personally I'm quite content with life here, but in the future who knows. |
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wiganer
Joined: 13 Jul 2010
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| Posted: Fri Jan 07, 2011 3:29 am Post subject: Re: staying in Korea long term |
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| da_moler wrote: |
| wiganer wrote: |
| da_moler wrote: |
| What with the deteriorating economic situation back home, is anyone else thinking they may wind up staying in Korea until retirement? Things are pretty easy here, so I could see myself staying, but what will getting old in Seoul be like? Is Korea really a good choice for a long term stay? |
Have you got advanced qualifications? A related degree? A Korean wife?
It is not like the Korean government will give you any notice or warning once you are surplus to requirements, you'll be gone on the next plane home and there will be nothing you can do about it. The visa set up is designed with that in mind. If you want to stay on in Korea and get the better jobs. Improve your skillset or marry a Korean. |
Yea, I've got pretty advanced qualifications and will soon have a Korean wife. That's why I've been wondering what's best for our future: stay in Korea or head back home. Personally I'm quite content with life here, but in the future who knows. |
There you go then! You are pretty much sorted. Korea is a place where you can earn 3 million plus won with a spare room and a desk doing privates. Back home there is a minimum of a 40 hour week waiting for you. I'd stay where you are if you have a Korean wife and advanced qualifications. English language learning isn't going anywhere so why should you?  |
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da_moler
Joined: 11 Nov 2006
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| Posted: Fri Jan 07, 2011 3:58 am Post subject: Re: staying in Korea long term |
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| wiganer wrote: |
There you go then! You are pretty much sorted. Korea is a place where you can earn 3 million plus won with a spare room and a desk doing privates. Back home there is a minimum of a 40 hour week waiting for you. I'd stay where you are if you have a Korean wife and advanced qualifications. English language learning isn't going anywhere so why should you? |
I kinda see your point, but what about the prospect of having kids here? I'm worried about any issues they would face being mixed-race, as well as the expense of international schooling. Anyone have any experience of this? |
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Ice Tea
Joined: 23 Nov 2008
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| Posted: Fri Jan 07, 2011 4:03 am Post subject: |
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This is the dumbest thread ever. Of course none of us will be here long-term. Hiring unqualified native teachers is a fad. This game won't be around when are in our fifties. If you really plan on staying here long term, you better learn Korean and find something you can do other than teach English.
The United States and Canada will not blow forever. In fact, things might clear up very soon, once all the boomers retire and young people can get jobs again. Also, higher oil prices will eventually bring some manufacturing back to North America. As for the debt, that's just numbers on a computer. A few key strokes and accounting magic and that can disappear. The US will never, ever, ever allow their economy to fall over something they can easily inflate their way out of. |
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mithridates
Joined: 03 Mar 2003
Location: President's office, Korean Space Agency
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| Posted: Fri Jan 07, 2011 5:42 am Post subject: Re: staying in Korea long term |
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| da_moler wrote: |
| wiganer wrote: |
There you go then! You are pretty much sorted. Korea is a place where you can earn 3 million plus won with a spare room and a desk doing privates. Back home there is a minimum of a 40 hour week waiting for you. I'd stay where you are if you have a Korean wife and advanced qualifications. English language learning isn't going anywhere so why should you? |
I kinda see your point, but what about the prospect of having kids here? I'm worried about any issues they would face being mixed-race, as well as the expense of international schooling. Anyone have any experience of this? |
The huge swath of kids down in the south growing up should lay a lot of the groundwork for you on the first point. If you don't have kids now then by the time you do mixed-race children will be old news. Here are the stats:
http://www.index.go.kr/egams/stts/jsp/potal/stts/PO_STTS_IdxMain.jsp?idx_cd=2430 |
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