Korean Job Discussion Forums

[Chillin' Villain]

Alright, I'm not sure how many responses this'll get, but here goes. Any help with this will be greatly appreciated!

My wife-to-be and I are saving big time (like, bazillions a month) to buy a home a couple years down the road, and I have been told to start one of these ����û��α� accounts with my bank. I pay 300,000 a month into it for at least two years (three is better, apparently), and at the end I get the money back with SOME interest (nothing special, though). It's not really about the savings with this account, however- the important part is that I get some 'ticket' that guarantees me a preferred position in the big new-apartment application pecking order.

Or something.

This is the part that I don't really understand. I've had a foreign buddy who just finished up his three years' account explain it to me somewhat, and a few adult students, but I still don't really have a full grasp. My girlfriend can't really tell me too much either, as she's pretty much been home with the folks her whole 28 years.

I'm guessing some of you have experience with this kinda thing. Can any one enlighten me? Also, is there a difference between the ����û��α� and the ����û�࿹��? I understand the linguistic difference, but I'm wondering if they are also different types of accounts or just two different names for the same thing.

[jinju]

We started this too. It gives you a place in line for a new apartment.

[SuperHero]

THe basic idea is that you get a ticket and if your ticket is drawn then you can buy a new apartment. if your ticket isn't drawn you get nothing - except your money back.

Me and my wife are also in the middle of the 3 years.

[bigscott]

From what my wife tells me, ����û��α� is the scheme where you pay a monthly amount and ����û�࿹�� is where you pay a lump sum at the start of your three years. They both have the same final result. If you are unsuccessful with your bid for a certain apartment complex, you can get your money back or you can try for a different apartment complex.

[Chillin' Villain]

Heard a bit more about this today from my buddy who finished his three years... Apparently if you finish all three years, ya get in some 'A' category, which basically puts you at the top of the pecking order. There are still others within that category, of course, and it's not necessarily a gurarantee, but I guess if yer shootin' for the hottest, newest apartment in the fastest-growing, sure-to-appreciate-in-value areas, this little puppy's what you need.

I guess the 'B' category is for those who are not completely through the three years yet, which puts ya a bit lower on the queue. Doesn't necessarily rule you out, though.

And then, 'C', which my buddy said you can get pretty much any time after starting. I'm reckoning the tissue I just blew my nose into is almost as useful as the 'C' ticket, but I could be wrong. I'm new at this, after all.

Anyways, this is sorta hearsay, and I may not be explaining it correctly, but that's the nutshell version of what I heard earlier this evening.

(BTW- my gf and I just started up some 3-year-maturity funds through Choheung Bank called '����"/"Bonjour".... Investments in Europe, China, and Korea, low risk, decent interest... I feel like such an adult now! Scary...)