Korean Job Discussion Forums

the eye · Joined: 29 Jan 2004

You don't need to exit the country, or get a new VISA if you sign a new contract with the new owner. The old owner and the new owner can accompany you to the Immigration office and transfer your existing VISA sponsorship over to his name.

redlightorchestra · Joined: 16 Jan 2006

This may completely change the answers, but I think I originally posted that the franchise is also going to change. So the company will also change. I don't know if this will affect the info that was given about MOL, but the school franchise I am working for is going under, I believe. So all that is still the same is the nature of the business and the address. So we are being let go by the company, and hired by the new company. I figure we will be saving them loads of money if we sign. Two full time English teachers, living in one apartment. They would save on flight costs, recruiter fees, and at the least two weeks of classes(the time it would probably take to get foreign teachers over from another country), That seems like at least 5 million won savings.

jacl · Joined: 31 Oct 2005

I believe that your ARC is good for a year. It goes by the expiry date on your card. So, if you transfer schools, all that needs to be done is a trip to immigration informing them of the new school's name and a re-signing of a new contract. It's just a change of sponsors.

Someone correct me if I'm wrong.

Maybe the new school wants to send you to Japan to avoid an earlier payment of severence. Seems strange though since I don't see why they would want to spend 300-500,000 or more for a visa run now instead of spending zilch. Yes, they could be looking 5 months down the road at having to spend 2 million on severence, but they would eventually have to pay it anyway in 17 months.

How many foreigners are at your school?

Grotto · Joined: 21 Mar 2004

Once again...take this opportunity to find a decent job....why stay at a school where you are being screwed over?

ontheway · Posted: Sat May 13, 2006 6:38 am Post subject:

redlightorchestra:

When a business is sold, the buyer could buy the whole business entity and take over all the assets, liabilities, obligations, contracts debts etc. of the old business. Or, the new owner could be establishing a new business of the same type in the space of the old business. They might purchase certain assets and take over the lease but not take on any of the obligations and debts.

In either case, your E2 visa and sponsorship can be transfered to the new owner without a visa run. In either case you will probably sign a new contract to cover the remainder of the time on your E2. Or you can use this as an opportunity to seek new employment.

Long ago, I transfered from a failing school to a new school. Under immigration rules, we could only transfer the balance of time on my existing E2 from the old school to the new school. There was no visa run necessary. My old boss paid her share of bonus etc. and my new boss agreed to pay the rest. To keep it simple, I took over my own housing, furnishings etc at that time (and forevermore). Now I just get a paid housing allowance. More freedom and security that way.

You need to assess your former boss and the new owners separately. The buyers could be better or worse than the previous owner.

The best outcome, IF you decide to stay with the new owners, is to get your old boss to agree to pay his share of severance and return air to you now, in cash, and to get the buyers to agree to pay the balance in 5 months at contract completion time. This would be in the interest of both the seller and buyer. The buyer needs teachers and for him the deal may be contingent upon you continuing. The seller needs to make the deal and it's easier if you're staying. Don't sign anything until you attempt to make a three party deal or two deals at the same time that get you your year end payments.

Good luck.

redlightorchestra · Joined: 16 Jan 2006

So my meeting with the new owner and a franchise rep went well. We were part of the deal so it has become their priority to get us our retirement pay. They still want us on a new contract but we will not sign untill we get the money.

We will be going to Japan, their expense, on a sandwich day in early june.

The company is small, and fairly new, this willl be the third site. If it isn't good, its only one year.

Thanks for all the advice from everyone. It gave us confidence for talking to the new company.

jacl · Joined: 31 Oct 2005

But you don't need to go to Japan.

redlightorchestra · Joined: 16 Jan 2006

They don't want the last 5 months of the visa. They want a one year e2 visa, so yes, I do have to go to Japan!

the eye · Joined: 29 Jan 2004

jacl · Joined: 31 Oct 2005

By doing a visa run, you're losing 7 months of severence. You should just work the remaining 5 months and get your severence pay. I'll bet they give you squat.

redlightorchestra · Joined: 16 Jan 2006

I wish we could just work the 5 remaining months, but they don't want that.
Jacl- I wish i could bet you on this matter but I think we are both are thinking about the same outcome.

We haven't signed, and will not sign untill we have money in hand, I am not about to argue with my potencial boss about whether we need to go to Japan or not, They are paying, I feel I need to go to Japan. I've never been to Japan, and I have scarcely been outside of kyunggi in 7 months. This from someone who drove from Southern Ontario to Nova Scotia (about a 24 hour drive) at least 4 times a year, for the last 6 years.

jacl · Joined: 31 Oct 2005

Have a good trip.

sadsac · Joined: 22 Dec 2003 Location: Gwangwang

With the sale or even change of directorship of a hagwon, all previous contracts are voided. As it is being sold, your outgoing owner should make a pro-rata payment of your final completion payment. It's not the new owners responsibility. They will only be required to pay for the final 5 months. If you work for the new owners without signing any contracts, you will be working illegally. Get your money in hand first. You are very right in your assumption of costs to get new teachers and the loss of time. It may well take them a considerable period of time to replace you. Best of luck. Smile

jacl · Joined: 31 Oct 2005

Of course you need a new contract, but it's best to keep the end date the same. As far as the severence goes, it's up to the two owners to work that out between them and have the severence clause stay the same in the new contract.

By doing the visa run, the OP is losing out on his 7 months worth of severence from the initial employer.

I don't see how going to Japan is useful at all to the OP. He'll probably only get one night there. Two days does not make for much more a relaxing time than a same-day run.