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sirius black
Joined: 04 Jun 2010
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 Posted: Tue Dec 13, 2011 1:27 am Post subject: |
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I think America still has great opportunities left. Those in the major professions: doctors, some types of law, engineers, Nursing, etc. will always make a great living. There are still tons of money to be made if you are entrpreneurial and have a good idea. The lower middle and middle middle classses are getting squeezed farther down to the working class and that's the problem. A degree is like a HS diploma was 30 years ago. Everyone has one.
Korea and China are the mecca if you're trying to live lower middle class without too much effort. China has a some business opportunities other than teaching if you are entrepreneurial, patient, etc. Korea has barriers. Unless you're married to a Korean, its tough to have a business here. I wouldn't trust a Korean business partner. Not denigrating the Koreans, they are great people but business ethics by western standards aren't the same here.
The important thing is to have a plan. And a back up plan. Most people with a plan end up okay if a monkey wrench gets in the works, as they adapt and alter the plan to fit the new reality. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Tue Dec 13, 2011 4:28 am Post subject: |
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| fosterman wrote: |
back home is dead.
Korea, china is the new world now.
America, the west etc had it's glory days and now the rich got VERY rich and left scraps for the rest.
Asia is where it's at now. ESL? well it's a job.. but investing, entrepreneurial ventures I think Asia is what America was to the early immigrants.
the American dream? more like the "Asian Dream".
you would be a fool to leave here, but if you do leave here. I am sure you will be back pretty quickly.
all the foreigners I have met who said, "I am Leaving" I hate this place, blar blar.. all end up coming back.
there is nothing home..
Korea is shining now. it's the best time in History to be in Korea!
seriously, why would you want to leave this place?
Korea is an awesome place. |
As much as I loved living there and love Korea for many reasons...it is not universally better than back home.
Home (thats a pretty varied list of countries by the way) is not dead and you can do well there provided you know what the hecjk you are doing and have the qualifications for what you want to do.
Still, living abroad or home is a personal choice that needs to be respected. So home is not dead nor is Korea a dead-end... |
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v88
Joined: 28 Feb 2010
Location: here
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| Posted: Tue Dec 13, 2011 4:33 am Post subject: |
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| fosterman wrote: |
back home is dead.
Korea, china is the new world now.
America, the west etc had it's glory days and now the rich got VERY rich and left scraps for the rest.
Asia is where it's at now. ESL? well it's a job.. but investing, entrepreneurial ventures I think Asia is what America was to the early immigrants.
the American dream? more like the "Asian Dream".
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I don't think Europe died when the US became a world power. The US won't die just because power is shifting to Asia. The problems of the US have far more to do with a corrupt capitalist structure and lost democracy.
As far as investing in Asia. I would agree. But I'm not really interested in investing that much. I'm rather interested in mountains, beaches, and nice cities. Something that Korea is kind of neither here nor there. Even by Korean growth estimates, Korea isn't expected to match places like Canada until 2050. I'll be an old man by then. |
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TellyRules986
Joined: 09 Nov 2009
Location: Korea
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| Posted: Tue Dec 13, 2011 5:52 am Post subject: |
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| Quote: |
| Leaving Korea, is it worth it? |
Of course it is!
**Is counting the days before she can leave**
| Quote: |
| I don't think Europe died when the US became a world power. The US won't die just because power is shifting to Asia. The problems of the US have far more to do with a corrupt capitalist structure and lost democracy. |
I agree with this. If the US fixes itself, it can be great again.
As far as Korea is concerned, their growth is fine and dandy. But what makes anyone think the me or my kids will have any opportunities here? From my stay, I got this strange feeling that Koreans don't like foreigners too much. I don't know where I got that feeling though! Hmm..... |
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sirius black
Joined: 04 Jun 2010
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| Posted: Tue Dec 13, 2011 7:52 am Post subject: |
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| fosterman wrote: |
back home is dead.
Korea, china is the new world now.
America, the west etc had it's glory days and now the rich got VERY rich and left scraps for the rest.
Asia is where it's at now. ESL? well it's a job.. but investing, entrepreneurial ventures I think Asia is what America was to the early immigrants.
the American dream? more like the "Asian Dream".
you would be a fool to leave here, but if you do leave here. I am sure you will be back pretty quickly.
all the foreigners I have met who said, "I am Leaving" I hate this place, blar blar.. all end up coming back.
there is nothing home..
Korea is shining now. it's the best time in History to be in Korea!
seriously, why would you want to leave this place?
Korea is an awesome place. |
Maybe they are out there and I don't see them because they are too busy working but with the thousands of teachers, I'd expect that a good many are entrepreneurial and always looking at opportunities. If Korea is so great why don't I see any significant examples of teachers who have left the profession and 'made it' which is a subjective term. I'm not talking about the teacher who marries a Korean woman and opens a hogwon either. I'm not talking about the teacher that opened the bar on occasion.
America is replete with foreigners who have started all kinds of businesses or become professioinals.
The only evidence I see of successful foreigners in any number are the non teaching variety and the non english as their first language variety. These are stores and restaurants.
Guess you have to start somewhere but I don't see a large business outside sole proprietorship. Are there any millionaires? I assume there may...be a few and I don't mean any of the athetes on their teams as well. |
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Chimie
Joined: 05 Oct 2011
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| Posted: Tue Dec 13, 2011 8:40 am Post subject: |
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| sirius black wrote: |
| fosterman wrote: |
back home is dead.
Korea, china is the new world now.
America, the west etc had it's glory days and now the rich got VERY rich and left scraps for the rest.
Asia is where it's at now. ESL? well it's a job.. but investing, entrepreneurial ventures I think Asia is what America was to the early immigrants.
the American dream? more like the "Asian Dream".
you would be a fool to leave here, but if you do leave here. I am sure you will be back pretty quickly.
all the foreigners I have met who said, "I am Leaving" I hate this place, blar blar.. all end up coming back.
there is nothing home..
Korea is shining now. it's the best time in History to be in Korea!
seriously, why would you want to leave this place?
Korea is an awesome place. |
Maybe they are out there and I don't see them because they are too busy working but with the thousands of teachers, I'd expect that a good many are entrepreneurial and always looking at opportunities. If Korea is so great why don't I see any significant examples of teachers who have left the profession and 'made it' which is a subjective term. I'm not talking about the teacher who marries a Korean woman and opens a hogwon either. I'm not talking about the teacher that opened the bar on occasion.
America is replete with foreigners who have started all kinds of businesses or become professioinals.
The only evidence I see of successful foreigners in any number are the non teaching variety and the non english as their first language variety. These are stores and restaurants.
Guess you have to start somewhere but I don't see a large business outside sole proprietorship. Are there any millionaires? I assume there may...be a few and I don't mean any of the athetes on their teams as well. |
Ever think that the reason is because there are 1.1 million foreigners in SK, and 49 million Koreans? Its not like every day a multi-million/billion dollar MNC is born. Korea is a much smaller country with a extreme majority of homogeneous people. Obviously the vast majority of successful people will be Korean. In America you have a much larger segment of foreigners, many of whom have come to America especially for the Education system (going to places like MIT, Harvard, Stanford, etc). Those people obviously are much more likely to found a business or company in America where we have the resources and experience to run them, rather than return to the Indias, Nigerias, etc etc and try to launch a MNC.
I just think your argument is a little short sighted and you're mistaking the cause with the effect. |
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Draz
Joined: 27 Jun 2007
Location: Land of Morning Clam
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| Posted: Tue Dec 13, 2011 8:17 pm Post subject: |
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| TellyRules986 wrote: |
| Quote: |
| Leaving Korea, is it worth it? |
Of course it is!
**Is counting the days before she can leave**
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24. 
So near and yet so far. Actually I've been using my last couple months to say goodbye to the place and have softened up on it a bit now that I know I'm going. I'm still really happy to be going. |
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The Floating World
Joined: 01 Oct 2011
Location: Here
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| Posted: Tue Dec 13, 2011 9:33 pm Post subject: |
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| Foriengers can't have majority shares in business here. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Tue Dec 13, 2011 10:44 pm Post subject: |
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| The Floating World wrote: |
| Foriengers can't have majority shares in business here. |
This is likely due to the fact that there are no such things as "Foriengers"
Foreigners however can and do.
| Quote: |
FDI, as prescribed in the Foreign Investment Promotion Act, includes acquisition of shares or stocks of a Korean corporation or a company run by a national of the Republic of Korea, supply of a long-term loan to a foreign-invested corporation, a contribution to a non-profit corporation, etc.
Acquisition of Shares or Stocks of a Domestic Company
Acquisition of share or stocks of a domestic company refers to a case where a foreigner purchases shares or stocks of a Korean corporation (including a Korean corporation in the process of being established) or a company run by a national of the Republic of Korea, for the purpose of establishing a continuous economic relationship with and participating in the management of the said Korean corporation or company.
Under the Foreign Investment Promotion Act, FDI should meet the following conditions.
The amount of investment should be 100 million won or more.
A foreigner should own 10 percent or more of either the total number of voting stocks, or the total equity investment. (Foreign Investment Promotion Act 2-2)
If the number of relevant investors is 2 or more, each should meet the above conditions. The foreign investment ratio is measured when the investment is completed.(Foreign Investment Promotion Act 2-3) However, when a foreign investor of a registered foreign-invested company makes an additional investment, there is no limitation in the amount and ratio. |
http://www.investkorea.org/InvestKoreaWar/work/ik/eng/bo/bo_01.jsp?code=102030103
(bolding mine)
There ARE restricted business and areas, true. But it does not hold for every business. |
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The Floating World
Joined: 01 Oct 2011
Location: Here
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| Posted: Tue Dec 13, 2011 10:51 pm Post subject: |
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What you quoted in NO WAY proves that foriegners can have 51% or higher shares.
And you will not find anything either, because it is the law.
Get over it. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Tue Dec 13, 2011 10:55 pm Post subject: |
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| The Floating World wrote: |
What you quoted in NO WAY proves that foriegners can have 51% or higher shares.
And you will not find anything either, because it is the law.
Get over it. |
No it's not. From the same link
| Quote: |
Long-Term Loans
FDI includes loans with maturity of not less than five years, which is supplied to a foreign-invested company by an overseas parent company of the foreign-invested company, a foreign investor, or an enterprise with capital investment relationship with the investor in an overseas parent company of the foreign-invested company or a foreign investor (based on the period for loan specified in the loan contract that has been made for the first time).
* An enterprise which has capital investment relationship with an overseas parent company or a foreign investor(Foreign Investment Promotion Act 2-4,5)
A company which holds not less than 50 percent of the total number of stocks issued by, or of the total equity investment of, its overseas parent company
A foreign-invested company not less than 50 percent of its total number of stocks or of the total equity investment of which is held by its overseas parent company, and which falls under any of the following:
A company which holds not less than 10 percent of the total number of stocks issued by, or of the total equity investment of, its overseas parent company
A company not less than 50 percent of the total number of issued shares or of the total equity investment of which is held by its overseas parent company
A company not less than 50 percent of the total number of issued stocks or of the total equity investment of which is held by a company which holds not less than 50 percent of the total number of issued stocks or of the total equity investment of its overseas parent company
A company not less than 50 percent of the total number of issued stocks or of the total equity investment of which is held by a foreign investor who holds not less than 50 percent of the total number of issued stocks or of the total equity investment of a foreign invested company. |
In all but one case they are REQUIRED to hold AT LEAST 50% of the stocks or TOTAL EQUITY INVESTMENT. They can hold more, but not less. |
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The Floating World
Joined: 01 Oct 2011
Location: Here
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| Posted: Tue Dec 13, 2011 10:58 pm Post subject: |
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| I wasn't talking about loans. Just give up. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Tue Dec 13, 2011 11:01 pm Post subject: |
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And here they are allowed to hold up to 55% of Korean companies. That change took place nearly 14 years ago.
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In South Korea, the IMF also forced the government to allow foreigners to have a larger share of the Korean economy, which had till then been relatively protected.
According to a Reuters report (5 December 1997) on the IMF terms: "Foreign investment in the capital markets will be liberalised and direct foreign investment procedures will be simplified and made more transparent. Foreign entities will be allowed to buy 50% of the equity of a listed Korean company by end-1997 and 55% by end-1998, paving the way for foreign takeovers of Korean firms. Foreign banks could be allowed to form joint ventures and set up subsidiaries." |
http://www.twnside.org.sg/title/cont-cn.htm
I suppose both the IMF and Reuters are lying though and you know more than either.  |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Tue Dec 13, 2011 11:09 pm Post subject: |
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Ever heard of Samsung?
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| If the earnings continue to soften, plenty of investors around the world will stand to lose. Samsung is the most widely held emerging-market stock, with $41 billion in market capitalization, and foreigners hold more than half its shares. |
(bolding mine)
http://www.businessweek.com/magazine/content/03_24/b3837001_mz001.htm
| Quote: |
| The rally was fueled by reports that the I.M.F. agreement would raise the percentage of a Korean company's stock that could be owned by foreigners to 50 percent from 26 percent immediately and to 55 percent next year. |
http://www.nytimes.com/1997/12/04/business/crisis-south-korea-bailout-package-loans-worth-55-billion-set-for-korea.html?pagewanted=all&src=pm
And that was back in 1997 when these changes took place (in the last link).
I guess the NYT and businessweek are in a conspiracy with me to prove you wrong. Although you could easily cite this law that you claim exists and prove me and all those businesses and newspapers wrong.
It's okay to be wrong, you know...to err is human. |
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Died By Bear
Joined: 13 Jul 2010
Location: On the big lake they call Gitche Gumee
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| Posted: Wed Dec 14, 2011 1:45 am Post subject: |
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OF COURSE America has opportunities - plenty of them. Too many people stay in Korea end up making excuses for why they stay, (way too many of them) . Silly.
Here's a case in point:
After nearly 40 years in public education, Patrick Godwin spends his retirement days running a horse farm east of Sacramento, Calif., with his daughter.
His departure from the workaday world is likely to be long and relatively free of financial concerns, after he retired last July at age 59 with a pension paying $174,308 a year for the rest of his life............
http://www.cnbc.com/id/45625234 |
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