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how did he do it?
« on: December 22, 2017, 11:15:31 am »
While I was working in Korea last year, I went for a part time job teaching piano in Busan. The guy was from the UK and married to a Korean and he had opened a music studio (London Music studio or something I think). During our conversation cum interview, it transpired that he originally came to Korea as an ESL teacher.

So how did he get an investor to start his company then? I know he had an investor because it said so on his website when I checked plus I couldn't help thinking that an ESL teacher wouldn't be able to afford it themselves. Is getting an investor in Korea if you are a foreigner "who you know"? Do you have to be friends with them to get anyone interested?

I would think it would be difficult in any case especially such a business where you are going to have to fork out money for instruments (he had one grand piano and a set of keyboards so not that much stuff), the costs to open the studio and the waiting time, waiting for students to join. Also he had a korean assistant who took phone calls etc.

Just wondering really how someone can go from a broke ESL teacher to someone with a music studio in Korea.


  • cracker
  • Veteran

    • 233

    • April 04, 2011, 12:20:11 pm
    • Gangwon-do
Re: how did he do it?
« Reply #1 on: December 22, 2017, 12:39:28 pm »
Quote
While I was working in Korea last year, I went for a part time job teaching piano in Busan. The guy was from the UK and married to a Korean and he had opened a music studio (London Music studio or something I think). During our conversation cum interview, it transpired that he originally came to Korea as an ESL teacher.

So how did he get an investor to start his company then? I know he had an investor because it said so on his website when I checked plus I couldn't help thinking that an ESL teacher wouldn't be able to afford it themselves. Is getting an investor in Korea if you are a foreigner "who you know"? Do you have to be friends with them to get anyone interested?

I would think it would be difficult in any case especially such a business where you are going to have to fork out money for instruments (he had one grand piano and a set of keyboards so not that much stuff), the costs to open the studio and the waiting time, waiting for students to join. Also he had a korean assistant who took phone calls etc.

Just wondering really how someone can go from a broke ESL teacher to someone with a music studio in Korea.

There are lots of ways to get grants to open up businesses in Korea, its very 'enterprise' friendly once you have the right VISA.



  • JNM
  • The Legend

    • 4118

    • January 19, 2015, 10:16:48 am
    • Seoul, South Korea
Re: how did he do it?
« Reply #2 on: December 22, 2017, 06:59:14 pm »
A few possibilities:

1) He married his investor (or his investor’s daughter),
2) He had money before coming to Korea - not everyone comes here to get out of debt,
3) Someone took a chance on him, or
4) He just set one up. Starting a music studio doesn’t take a lot of investment, especially if you already have some gear as a hobby.