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My Hagwon has been sold..... Good or bad???

 
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o-dog



Joined: 23 Aug 2009
Location: Bucheon

PostPosted: Thu Oct 22, 2009 12:52 am    Post subject: My Hagwon has been sold..... Good or bad??? Reply with quote

Any one experience having the hagwon they work at being sold to another party.... I'm not sure of the ramifications for me yet but is there anything I should be looking out for. Will they try and screw me out of my contract.

I haven't even been told yet so I'm not wanting to do anything about i.e move school or such just asking if anything I should be aware of.
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bassexpander



Joined: 13 Sep 2007
Location: Someplace you'd rather be.

PostPosted: Thu Oct 22, 2009 2:14 am    Post subject: Reply with quote

Depends.

The new owners can rewrite your contracts, and as you to sign or leave, if my memory is correct.

That could mean difficulties, or it might not.
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PaperTiger



Joined: 31 May 2005
Location: Ulaanbataar

PostPosted: Thu Oct 22, 2009 2:58 am    Post subject: Reply with quote

Are contracts transferable? I had that happen to me, but I heard it was not exactly legal. Count on your school being sold to an even bigger loser than the person who currently owns it. If they re-write your contract and change your finish date...you can be sure that you might have a tiny bit of leverage in that situation since they don't want to search for new teachers. Do some discreet investigation and for the love of Thor...don't react, overreact, or say anything in response to whatever unholy hippo crap you hear.
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Freeghen



Joined: 01 Oct 2009

PostPosted: Thu Oct 22, 2009 6:44 am    Post subject: Reply with quote

This happened to me 3 weeks ago. The whole thing was a pain.

Contracts don't sign over, you will most likely have to write up a new one. This can be good or bad depending on how content you are with your current contract and can leave some room for negotiation if they want to keep you around. Try to ensure in the contract that you will still receive your severance pay and return ticket home....however, this is easier said than done.

Make sure that you also get the new owner to sign a contract and that they register you at immigration under the new school name (if it changes) and note there that that they are your boss/sponsor/employer. If they fail to do this, you don't have a leg to stand on if you get in a conflict and try to go to the labor board.
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jon_blaze



Joined: 12 Oct 2008

PostPosted: Fri Oct 23, 2009 12:58 am    Post subject: Reply with quote

Happened to me also (3rd ownership now) and they haven't bothered with giving out new contracts to sign, but if memory serves it does seem like contracts do carry over in some way or another (I could never understand Korean law). But if they offer up a new one for you to sign...go for broke on what YOU want.
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big_fella1



Joined: 08 Dec 2005

PostPosted: Fri Oct 23, 2009 8:12 am    Post subject: Reply with quote

Anytime you worked for the previous owner will not count for severance or airfare entitlements so it would have to be a good job to stay or ask them to guarantee those payments now in writing if they don't walk.
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