Korean Job Discussion Forums

[yellowfever]

Morning! I've got a couple of questions that I really hope somebody can help me with. I'm thinking about moving to Korea to teach English in the next few months, I've got the required quals and experience teaching abroad so I shouldn't have too much trouble finding a job from what I understand, however the only thing that is stopping me is that I have a loan and a credit card in the UK that need to be paid each month, these add up to about �400.

Is it possible to transfer money from SK to UK each month? I've read about various restrictions and red tape when sending / transferring money out of the country (but I'm not sure if this is still the case) and realistically will I be able to get by each month after sending that amount home (assuming the job paid, say 2 million won a month, which seems about the average newbie wage) I have searched for this info in the FAQ section but I've not been able to find a detailed, up to date answer.

I would really appreciate any help or advice anyone can give me as this information will determine whether it is a feasible plan or not. Thanks for your time.

[fromtheuk]

If you're an introvert i.e. don't drink, smoke, party etc.

You could save at least 1.2 million won each month if you eat well but don't go out much.

400 quid is currently 825,000 won. After deductions your actual pay for a base salary of 2 million won a month would be around 1.8 million won.

If you allow for the payment of your bills, you would still have at least 650-700,000 won to live on each month which can be done quite easily, with discipline.

When you come to Korea, you could open a bank account with KEB bank, they apparently allow people to transfer money from Korean accounts to your own bank, online, for a small charge.

So, yes, you could do it.

[yellowfever]

Thanks for the info fromtheuk! A few more questions...

Is it only KEB Bank that allows you to transfer money to the UK or can you do this at other banks as well? What fees do banks typically charge for this service?

How easy is it to live on 700,000 won per month (after bills etc)? Would I be able to have the odd night or two out on the town?

Again, thanks for your time.

[sobriquet]

You can get a FX automatic transfer account at KEB

Drop your money into it and it's whisked away by magic to your UK bank account.

Very handy to have.

[passingtime]

ok, you should be able to get 2.2 at least for a start.

I earn 2.3 a month and send home 1.1 to the UK, i go out every friday and saturday, and at least one night during the week, I do stuff during the day most weekends too. I don't buy consumer goods or a lot of clothes though, I also don't live in Seoul.

I think any bank will allow you to send money home, Iam with Nonghyup, and have to go to a larger branch to do it, but no problem. First time took about half an hour to go through, now about 10 minutes a time. Make sure you get all your account numbers from the UK including the one that you use when sending money from abroad. As for fees I seem to get charged about 6 quid the Korean end and 8 quid the UK end although it does vary slightly.

[Beeyee]