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Key Money, Job Security, and E-7 Visas

 
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sailingibis



Joined: 15 Sep 2012

PostPosted: Thu Oct 11, 2012 8:06 am    Post subject: Key Money, Job Security, and E-7 Visas Reply with quote

So, there is a very good chance that I will be coming in on an E-7 visa, and the company will not be providing accomodation. (I'll be in education but not teaching.) It is my understanding that for the hagwon and public school teachers on an E-2 it is nearly impossible to get fired. The boss might make your life miserable to the point of quitting, but short of diddling the kids or coming in stoned, people are rarely kicked to the curb. Please let me know if this isn't true.
I am very curious to know everyone's impression of Korean hiring and firing practices outside the hagwons. Obviously, every employer is different but just generally speaking. I am very professional and good at what I do, and I can't imagine a situation that would make me leave before the twelve months are up. I am, however, very reluctant to put down the 5m-10m/won key money if foreigners get fired at will by moody bosses. It seems like a lot to hang over you if losing your job means losing your visa which means losing your deposit. Or, at best, it would mean creating a sublet situation with me out of country and tenant there and blah blah blah.
If someone on an E-2 gets fired, then at worst they lose a bit of pride and a completion bonus. If I were to be fired, for whatever reason, it could mean a pretty serious financial setback. Edit: It could be a f*%&^ disaster!
Also, if anyone has continued to read to this point, what are the odds of me finding an apartment anywhere near the Mapo Bridge on the Yongsang-gu side?? I would like to spend around 1.2M or less a month. And, what are the odds of finding a place in that range that won't ask for a ridiculous amount of key money. Ugh...key money Sad
Thanks
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Zyzyfer



Joined: 29 Jan 2003
Location: who, what, where, when, why, how?

PostPosted: Thu Oct 11, 2012 6:58 pm    Post subject: Reply with quote

Getting an E-7 is more work for the employer so I seriously doubt chances are high that you will suddenly get fired unless you utterly suck at the job. So long as the employer seems active and productive you do not have much to worry about in terms of job security.

As for housing in that location, I don't know much about prices but I imagine you could get a little studio pad for a �reasonable� price. Probably higher key money though, that's a good spot for people who work in Yeouido.

I also see lots of Westerners, looks like families, a little farther away on that same road, closer to Hyochang park. But really, if you're working in that area and can afford 1.2 in rent, check out Gyeongnidan or Haebangchon. You can get a pointlessly big place for that and the commute to Mapo Station is reasonable for Seoul.

edit: Oh one other thing. Generally E-7s put you in an office environment, with all its own fun little quirks. While you don't exactly have to play along as a foreigner, the biggest advice I can give a foreigner is to not be a hothead. You WILL get stupid requests and throwing a fit WILL make you look bad very quickly. If you whine and moan and rattle on about how your way is the right way then you very well might get canned later. Take the BS on the chin, wash away the woes with a few brews after a hard day. Bosses generally don't care about all the other office stuff with you, just be Western polite and everything should be peachy. (I have heard horror stories from bad jobs though haha)
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oppa637



Joined: 05 Dec 2011

PostPosted: Thu Oct 11, 2012 8:35 pm    Post subject: Reply with quote

I'd renegotiate and get housing. If you are getting E7, they want you as a something that cannot be acquired locally. I rather take a pay deduction than have to worry bout key money and rent.
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Yaya



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Thu Oct 11, 2012 8:42 pm    Post subject: Reply with quote

I don't know if the company you are working for is private or public, but yes, I do agree about the BS at Korean companies. Oftentimes the boss will assign tasks because he feels like it or wants to show that his unit is busy and such.
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schwa



Joined: 18 Jan 2003
Location: Yap

PostPosted: Thu Oct 11, 2012 8:45 pm    Post subject: Reply with quote

Quitting a lease early doesnt mean forfeiting your key money. Once you or a real estate agent lines up a new tenant, its refunded to you.
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Zyzyfer



Joined: 29 Jan 2003
Location: who, what, where, when, why, how?

PostPosted: Thu Oct 11, 2012 9:02 pm    Post subject: Reply with quote

oppa637 wrote:
I'd renegotiate and get housing. If you are getting E7, they want you as a something that cannot be acquired locally. I rather take a pay deduction than have to worry bout key money and rent.


I've never met anyone on an E-7 who received housing with it. With most decent jobs, you get a rather higher salary to offset this, though more high-profile jobs that actually advertise out in the open and smaller companies can get away with some low-balling.

And frankly, ever since I took my first E-7 job back in 2005, I have never bothered with even considering employer-provided housing. I don't want to whine to someone in my office every time something goes wrong, or have to move around just because I changed employers.

Quote:
Oftentimes the boss will assign tasks because he feels like it or wants to show that his unit is busy and such.


Hehe. My current boss likes to review whatever I've been working on and he never lets it go by without wanting changes made. To be fair, he's spot on most of the time, but there are times when he's like "I just don't like this word" simply for the sake of using his final word authority. Fortunately, I was prepared, so I just go with it and chuckle when Korean coworkers whine about him doing this.
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spaceman82



Joined: 01 Dec 2009

PostPosted: Thu Oct 11, 2012 9:17 pm    Post subject: Reply with quote

It's hard to really give you an idea of what kind of job security you'll have since that will depend more on what company you're working for than your visa type. Even among E-2s, there are plenty of stories of people getting fired by or going through similar travails with their hagwons.

In regard to housing, if you look in the Haebangchon area, you'll probably be able to find something with lower key money (2 million won or possibly no key money) if the thought of paying down 5 million or more bothers you. Also, while I agree with the previous poster that E7s aren't usually provided with housing and you probably don't want to depend on your company for housing, you could ask your company for assistance with key money if it's that big of a deal for you, depending on how much experience your company has dealing with foreigners, etc. Personally, however, I would be checking in the area I mentioned or looking on Craigslist and similar sites for housing options that don't require key money (they're quite common), especially since you're willing to pay as much as 1.2 million won in rent.
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oppa637



Joined: 05 Dec 2011

PostPosted: Thu Oct 11, 2012 11:10 pm    Post subject: Reply with quote

Interesting, didn't know that.

I'm on E7 and was provided housing as well as all the other coworkers I work with that are on E7 so I figured it was typical. (large salary included)
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sailingibis



Joined: 15 Sep 2012

PostPosted: Fri Oct 12, 2012 6:45 am    Post subject: Reply with quote

Thanks everyone. I have to admit that I was in a bit of a worry when I wrote this. I have since found a few places that don't charge key money, and once that weight is off I now feel better about the visa situation.

Those are some good points on office etiquette. I'm going into this totally believing that the Korean idea of the boss is much stronger than the American idea of boss. It's not a problem for me. Keep quiet, don't complain, do your job, I'm cool with that.
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Yaya



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Fri Oct 12, 2012 10:14 pm    Post subject: Reply with quote

Zyzyfer wrote:
oppa637 wrote:
I'd renegotiate and get housing. If you are getting E7, they want you as a something that cannot be acquired locally. I rather take a pay deduction than have to worry bout key money and rent.


I've never met anyone on an E-7 who received housing with it. With most decent jobs, you get a rather higher salary to offset this, though more high-profile jobs that actually advertise out in the open and smaller companies can get away with some low-balling.

And frankly, ever since I took my first E-7 job back in 2005, I have never bothered with even considering employer-provided housing. I don't want to whine to someone in my office every time something goes wrong, or have to move around just because I changed employers.

Quote:
Oftentimes the boss will assign tasks because he feels like it or wants to show that his unit is busy and such.


Hehe. My current boss likes to review whatever I've been working on and he never lets it go by without wanting changes made. To be fair, he's spot on most of the time, but there are times when he's like "I just don't like this word" simply for the sake of using his final word authority. Fortunately, I was prepared, so I just go with it and chuckle when Korean coworkers whine about him doing this.


In my experience, Korean FEMALE bosses tend to be the worst and most insecure. They have a knack for trying to please everyone, even people without half a brain, and end up ticking off everyone in the process. They tend to be, in my experience, the most sensitive when corrected (even when they are so dead wrong) and worse.
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Konglishman



Joined: 14 Sep 2007
Location: Nanjing

PostPosted: Fri Oct 12, 2012 11:21 pm    Post subject: Reply with quote

schwa wrote:
Quitting a lease early doesnt mean forfeiting your key money. Once you or a real estate agent lines up a new tenant, its refunded to you.


However, if you have to leave on short notice before the lease is up, you may get charged an extra 2 months of rent.
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Konglishman



Joined: 14 Sep 2007
Location: Nanjing

PostPosted: Fri Oct 12, 2012 11:32 pm    Post subject: Reply with quote

sailingibis wrote:
Thanks everyone. I have to admit that I was in a bit of a worry when I wrote this. I have since found a few places that don't charge key money, and once that weight is off I now feel better about the visa situation.

Those are some good points on office etiquette. I'm going into this totally believing that the Korean idea of the boss is much stronger than the American idea of boss. It's not a problem for me. Keep quiet, don't complain, do your job, I'm cool with that.


So, I am guessing that you will be staying in a goshiwon. At some point, you will probably want a bigger place. So, I am going to recommend the Sindorim area which is not too far from Mapo. The apartments there are expensive, but if you look around, you can find some reasonably priced villas. Try looking around the area behind the Posville building.
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