Korean Job Discussion Forums

sjane1234 · Joined: 24 Feb 2009

I am thinking of going to South Korea to teach English in August of this year. I have heard that the wages for teachers are good over there and the cost of living is cheap so therefore I will be able to pay back a student loan.
I know this has been true of people who have gone over there in the past but now that there is a recession, has this affected wages and the cost of living over there?

sarbonn · Joined: 14 Oct 2008 Location: Michigan

Wages haven't really been affected, but the exchange rate has made wages not worth anywhere near what they were worth just months ago. Prices are going up on most goods in Korea, so you are able to buy less and you are able to transfer for less money as well. You might have a hard time paying off student loans, depending upon how much you have to be paying each month.

sjane1234 · Joined: 24 Feb 2009

I will be hoping to send at least �500 (958,718 won) per month back for my loan. If I was earning 2.1 million won per month do you think I could live in Seoul with spending money of 1142,000 (�595) won per month?

Your advice would be gratefully appreciated...

tranamah · Joined: 13 Oct 2008 Location: Ilsan, Korea

yes. i spend less than one million a month and that's including everything - utilities, eating out almost every night, shopping, weekend trips, etc.

Kimbop · Joined: 31 Mar 2008

Expect your bills, taxes, school scams, etc to shave off about 300,000 per month. Add on food, partying, clothes, toys, etc and you'll be left with about a million won. So yes, you should be able to send back 5 hunnert pounds per month.

The Koreans are offering a Brit 2.1 Mill per month? Yikes, these schools must be desperate.

sjane1234 · Joined: 24 Feb 2009

I just said 2.1 million because I got it from the job post from this site. What kind of wage would I be expected to get per month if I have a CELTA cert? Would it be a lot less?

caniff · Joined: 03 Feb 2004 Location: All over the map

"2-point! 2-point-one!! Two-point-two!!! Two-point-two-point-two-point!!!"

*sigh* You better think about what you're doing. I came to Korea in 2002 on 2.4-2.6 (depending on the extra class schedule - and that was when the Won was alot stronger than today), but I never felt extremely well-compensated. The 4 months paid vacation kept me on board for the two years I taught at the PS school.

I make a helluva lot more than that now, but if I wasn't pulling in decent coin the current situation in Korea would most definitely have me strongly considering getting out of Dodge.

I find it amazing that a college graduate would come here to work for Walmart-greeter pay in a job that could potentially suck. Perhaps we are witnessing the long-anticipated collapse of Western Civilization.

OnTheOtherSide · Joined: 29 Feb 2008

In the past, Korea was THE place to go and make fast money.

The economic crisis has changed all that though. The Korean won is not worth as much and the amount of money to be made is not as big. Korea is still probably the most lucrative Asian country to teach in overall. But it is only slightly ahead of several other Asian countries.

The best thing about Korea are the benefits it offers. Free flight, free apartment, good health insurance, severence, etc. But the monthly salaries offered in Korea are not too spectacular anymore.

Personally, I would just choose the country that you really want to go to. If you REALLY want to go to Korea than go there, Korea is a pretty cool place. But these days, if you would rather go to Japan, China, Taiwan, etc. You might as well just go there instead. You would probably only be making 100 or 200 dollars less, if that.

OnTheOtherSide · Joined: 29 Feb 2008

sjane1234 · Joined: 24 Feb 2009

Are you saying that 2.1 is not a realistic wage to expect? or are you saying that I wont be able to live and save 958,718 won per month on that wage?

I really don't want sarcasm - I just want answer to my question. I have never been to South Korea and I don't know the way things work over there so please bare with me if i'm annoying with stupid questions...

Please someone give me some advice - i really need to pay back this loan and get some teaching experience at the same time. The reason I'm going to South Korea is because it seems like that place to go if i want to get some teaching experience and pay my loan back...

Ya-ta Boy · Joined: 16 Jan 2003 Location: Established in 1994

You can expect to save about 1/2 of your salary. W2.1 million is a common monthly salary, but some places pay a bit more...in the W2.3 range.

The cost of living is lower in smaller cities. Think about living/working outside Seoul if money is a major factor.

You should also be aware that the Won is now around 1500 (to the US$) but in '98 it fell to 2000, meaning you would NOT be making enough to pay back your loan. No one knows if it will sink that far again. No one.

Another factor: From what you said, you would be sending out about 1/2 your salary. That is not a wise move. You need to keep several million Won on hand, say at least enough to cover a flight home in an emergency. Lots of people's jobs go south after they arrive and they just can't take it.

Moving half way around the world is a tricky proposition in the best of times. These are not the best of times.

Good luck in your decision.

cdninkorea · Joined: 27 Jan 2006 Location: Seoul

You can save a million won per month working in Korea, even in Seoul. Absolutely. No one knows what will happen to the exchange rate in the near future, but have you looked at Japan? The yen is skyrocketing right now...

spitfire · Joined: 21 Jan 2009

Its easy for people who are already here to say that Korea isnt very attractive anymore.

Fact is a job is a job is a job.

EPIK was almost full this year. Over 500 people attended orientation in march. Many because the economy is so shitty at home.

Real Reality · Joined: 10 Jan 2003 Location: Seoul

Koreans Face Unfriendliest Working Conditions in OECD
Chosun Ilbo (December 13, 2007)
http://english.chosun.com/w21data/html/news/200712/200712130017.html

Koreans Log Longest Working Hours
Chosun Ilbo (April 10, 2008)
http://english.chosun.com/w21data/html/news/200804/200804100007.html

Koreans less satisfied with work: Hours may be long, but productivity ranks near the bottom
By Kim Ki-chan and Han Eun-hwa, JoongAng Daily (May 20, 2008)
http://joongangdaily.joins.com/article/view.asp?aid=2890009
image url:
http://joongangdaily.joins.com/_data/photo/2008/05/19223802.jpg

marlow · Joined: 06 Feb 2005