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Korean Job Discussion Forums
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tw
Joined: 06 May 2009
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 Posted: Fri May 08, 2009 9:32 pm Post subject: Key deposit money |
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| I am in the application phase at the moment. I had a question about the 5,000,000 KRW money for the deposit. If CDI pays for this,is this considered a loan in which they deduct monthly like epik. In can we choose to not use the CDI realtor? for example what if we go the room mate route is this allowed, I hope so as it would save me more money. |
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cruisemonkey
Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.
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| Posted: Fri May 08, 2009 9:50 pm Post subject: Re: Key deposit money |
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| tw wrote: |
| I am in the application phase at the moment. I had a question about the 5,000,000 KRW money for the deposit. |
W5,000,000 is nothing in K-land and simply means you will pay higher 'rent' (if you can find a place).
| tw wrote: |
| If CDI pays for this,is this considered a loan in which they deduct monthly like epik. |
??? EPIK does not deduct anything.
| tw wrote: |
| In can we choose to not use the CDI realtor? |
You can do anything you want... but how will you know what to do?
| tw wrote: |
| ... for example what if we go the room mate route is this allowed, I hope so as it would save me more money. |
We?... roomate?
I'd suggest you spend some time researching how things work in K-land; and not sign a contract that puts you in the illegal position of a independent contractor. |
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tw
Joined: 06 May 2009
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| Posted: Sat May 09, 2009 10:40 am Post subject: CDI |
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| Good point I haven't received my contract just yet, but I am considering hourly vs monthly with CDI. I know they have a realtor and they usually pay deposit money if you choose the hourly however no one has mentioned if this is a loan that CDI, if so we would have a percentage deducted from our salary each month. I have seen some posts in which teachers get an apartment together, but I know they use the key money. I will talk with my recruiter, as I think I can am allowed to choose my own options. |
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sboix23
Joined: 15 May 2009
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| Posted: Thu Jun 25, 2009 7:39 pm Post subject: |
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| did you decide which pay option to take? |
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Leafs42084
Joined: 31 May 2009
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| Posted: Fri Jun 26, 2009 6:58 am Post subject: Re: CDI |
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| tw wrote: |
| Good point I haven't received my contract just yet, but I am considering hourly vs monthly with CDI. I know they have a realtor and they usually pay deposit money if you choose the hourly however no one has mentioned if this is a loan that CDI, if so we would have a percentage deducted from our salary each month. I have seen some posts in which teachers get an apartment together, but I know they use the key money. I will talk with my recruiter, as I think I can am allowed to choose my own options. |
did you get a location that offers both hourly and salary? I think most people want hourly but dont get that option when they are told of their location. But yes, everyone gets an hourly/salary option for hte offer...
but different story when you get a location.
And I am pretty sure the 5000000 you get from CDI is not a loan, they pay it for you. However, when you leave, you get it back which you havce to go back to CDI |
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denverdeath
Joined: 21 May 2005
Location: Boo-sahn
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| Posted: Fri Jun 26, 2009 8:14 am Post subject: |
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| As Leafs said, the 5,000,000 is key money. It's not yours, and it's not really a loan. They put it down on a place of their(or yours - I'm sure based upon conditions) choosing. Most likely, you won't see a cent of any of it. That's not to say that you might be able to find something where you and they are very happy. 5,000,000 IS a drop in the bucket when it comes to housing in Korea, but CDI is not stupid, and they'll expect to get the money back. |
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