Korean Job Discussion Forums

[amcnutt]

I'm heading back over to Korea in about a month. I've signed a contract and opted for the housing allowance that they offer, because I've already lived in Seoul and I wanted to get my own apartment. I don't mind paying an extra 100-200,000 won a month for a nicer place.
The contract mentions a monthly housing allowance, but doesn't mention key money. Do most schools that offer housing allowance also offer a certain amount of key money? I'm sure this can differ among schools, but I was wondering if most that offer the allowance also offer key money.
Right now I'm trying to come up with some money to act as key money. I am contemplating asking my recruiter about this as well, to find out from the school before I get there.
So, for those of you with housing allowance - did you get key money from your school? If so, how much (if you don't mind my asking)?

*NOTE: I am also posting this question in the General Discussion forum, as it sort of relates to both living and working in Korea.

[Skippy]

It all depends on the contract. What does the contract say?

Some schools do not want to do it, because the school will have money locked up for a year or more. If you go early or are fired, the school has to wait till apartment owner can find a new tenant.

Another thing to try is... Just ask the school! They may so no. You can haggle with them and come up with a deal.

For example, If they provide the key money you will pay back over time. So each month they get some of the key money from you. Over time you own the key money.

Or, they add a clause to contract that if you leave or are fired. That you will accept deductions or costs with leaving early.

Make sure you get this in writing. No handshakes or understandings. More so when dealing with big chunks of money.

Also look into getting key money insurance or something similar to this. I do not know the details.

Good Luck.

[ttompatz]

[valkyrian2]

also found here: http://forums.eslcafe.com/korea/viewtopic.php?t=220575

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