Korean Job Discussion Forums

[PeteJB]

Ok, I am little confused about this part of the application process at SNU, so this question is aimed at those of us here who are (or have) studied there or at another University in Korea.

On the financial part of the application, you have to provide evidence of 10,000 USD as proof that you are able to fund your education at SNU. The application form is clearly written by Koreans, because this line of text confuses me greatly: "The minimum amount of funds that should be available is US$10,000 in the bank account(s) of you and/or your sponsor. "

What does this mean? Does this mean that the applicant needs proof of 10,000 USD, and failing that, you must provide evidence that you can be sponsored by someone. What I don't get is the 'and/or' part - Doesn't that mean that BOTH the applicant and the sponsor must have a balance of 10,000? How does that work, exactly? Surely it's either you OR the sponsor, not both.

And with regards to the sponsor, it states personal or family are both accepted as sponsors - but do they need to be living in Korea, or can a bank statement from a family member living outside of Korea be accepted?

Anyone who has applied at SNU in the past, please advise. @_@

[Hugo85]

If you have 5000$ and your sponsor 5000$ then it's you 'and' your sponsor I guess.

[coralreefer_1]

It means either (a) you have the money yourself in your own that equals 10,000USD or (b) you have some person that agrees to be your sponsor who has the amount required.

It does not mean you need both. Whichever situation is applicable for you will suffice.

The school can determine who the sponsor is. Typically the top tier schools like SNU will only accept a sponsor if they are a parent or some other relative. Others will accept anyone...check with the school to find out this detail.

They do not need to be living in Korea, but let me stress this next point. Make SURE that when you get a bank statement, make sure it is original (not a photocopy or fax) and that it is an "official" statement. I was rejected from Korea University Grad school just a few months ago because the statement my father sent me ticked off alarms that it was fake because it was simply a piece of A4 paper that the teller at the bank printed off for him..not an official monthly statement with different shades of color, bank seal...etc.

[Capo]

i just enrolled in yonsei korean language program all the information I found was saying i need to prove i have 3000 USD, but it is all focused to overseas applicants.... i showed immigration my korean bank passbook showing how much i had in won and it was fine and got my visa without issue. If you have enough money yourself you don't need a sponsor. I believe if you have a sponsor you they need to be a Korean national, but i'm not if there are exceptions for grad school. obviously if you apply to an oversees korean consulate the requirements might be different but if you apply in korea all you need to prove is you have enough won....3000usd = 3m won in korean eyes.

[coralreefer_1]

Yes, this is true for those applying for D4 visa..immigration requires only 3,000 USD as proof of financial capability.

In the case of D2 visa applicants, immigration requires 10,000 USD.

[PeteJB]

Ok, thanks guys. One more question, according to the FAQ it says you only need proof of 10,000 USD when applying for the Visa - NOT for when applying to the University. So I don't need to include a bank statement with the Financial Certificate form, I assume?

[coralreefer_1]

Usually the university will ask you to include the same financial statement in the application. I'm not sure why, but it is a kind of double check. The requirement is really for the visa, but the university will not issue a certificate of visa issuance without it. I have never heard of a university accepting a student without some type of financial statement proving ability to pay (even though sponsor is not responsible or obligated to pay tuition)

Basically all of this is a kind of very weak way to keep people from coming into the country who will get a visa, then run off to work in some factory and never attend school. The assumption is that is you have money, or connected with someone who has money you are not likely to do as such.

Also note than all universities are a bit different. Some require just a one time statement no older than 1 month old, others will require several statements showing the amount in the account for over a one month or several month period of time, all issued recently.

If that is not noted in the application procedure, contact them directly to make sure you are crystal clear on their requirements.

[chungbukdo]

[PeteJB]

Yeah but do you actually need the stamp sealed bank statement with the financial application? I was under the impression this document was for Immigration's eyes only.

[coralreefer_1]

[Thiuda]

[Capo]

On the document from Yonsei it stated they believe i had the ability to fund my self while studying, but i had not given the university any proof. It's all down to their own policy how strictly they varify it. If in doubt call them.

I also want to reiterate if you have a korean bank account with 10,000,000won that will be fine for immigration, you don't necessarily need a USD account. I just photocopied my passbook.