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  • oikos
  • Explorer

    • 5

    • May 09, 2019, 10:33:54 pm
What would happen to TEFL jobs if SK went into recession?
« on: May 28, 2019, 11:42:03 pm »
Quarter 1 had negative GDP growth and if quarter 2 is the same, south korea will be officially in recession. What would happen to english teaching jobs for foreigners if there was a recession? Would government programs like EPIK and TALK cut back their hiring and renewals for native english teachers? What about Hagwons? Curious to hear your thoughts


  • OnNut81
  • Expert Waygook

    • 848

    • April 01, 2011, 03:01:41 pm
    • Anyang
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #1 on: May 29, 2019, 02:30:50 pm »
I would think government funded jobs could be at serious risk if it was a serious or prolonged recession.  My first year in Korea was in 1997-98.  I arrived in fair weather and after a few months was headed down into the financial catastrophe that resulted in what was known as the IMF era.  Lots of financial hardship but hakwans kept going along (I'm sure some closed but there were still plenty of teachers and jobs in my mid-sized city.)  I worked for an after school company with about 10 foreign teachers and about half did the midnight run.  Student loans being a big factor My Canadian GF included eventually.  I wasn't really here for the money and didn't have any debt so I stuck around for the experience.  Instead of saving as much just decided to be freer with the cash.  As long as we were eating and drinking Korean we were more than fine.  People with more savings or pension/key money were sometimes forced to prolong their departure in order for the value of their won to go back up.  I was chatting with one of the Canadian guys who was a partner owner of The Reggae Bar (now Route 66 in Itaewon) and he was saying he had planned to cash out and split back to Ontario but had been forced to change his plans as he would lose too much.  The exchange rate was horrifying.  I heard later their Korean partner screwed them out of what they were owed for the Reggae Bar anyways, so maybe they should have left when they could. 


Re: What would happen to TEFL jobs if SK went into recession?
« Reply #2 on: May 29, 2019, 03:46:41 pm »
We were through a massive recession 2009-2012

Nothing happened!

Korean employers continued to pay housing  :P  $$$$$$$$$$$$$$$$$$$$$$$$$$$$
Korean employers continued to pay for return flights  :P $$$$$$$$$$$$$$$$$$$$$$$
Korean employers continued to pay severance of one month's salary after completion of contract  :P$$$$$$$$$$$$$$$$$





  • pkjh
  • Hero of Waygookistan

    • 1549

    • May 02, 2012, 02:59:44 pm
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #3 on: May 29, 2019, 04:18:42 pm »
We were through a massive recession 2009-2012

Nothing happened!

Korean employers continued to pay housing  :P  $$$$$$$$$$$$$$$$$$$$$$$$$$$$
Korean employers continued to pay for return flights  :P $$$$$$$$$$$$$$$$$$$$$$$
Korean employers continued to pay severance of one month's salary after completion of contract  :P$$$$$$$$$$$$$$$$$
True...

Nothing much will happen. The bigger concern is the dwindling lack of kids. Less kids is a much bigger concern than economics. Korea could have the best education system in the world, but Korean parents would still send their kids to hagwons.


  • zola
  • The Legend

    • 2791

    • September 30, 2012, 06:56:11 am
    • Korea
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #4 on: May 29, 2019, 04:44:39 pm »
We were through a massive recession 2009-2012

Nothing happened!

Korean employers continued to pay housing  :P  $$$$$$$$$$$$$$$$$$$$$$$$$$$$
Korean employers continued to pay for return flights  :P $$$$$$$$$$$$$$$$$$$$$$$
Korean employers continued to pay severance of one month's salary after completion of contract  :P$$$$$$$$$$$$$$$$$





There was massive influx of, for want of a better term, economic migrants, from the US, Canada etc that flooded the market here and salaries have stagnated ever since.
Kpip! - Martin 2018


  • HappyPlanetAbuser
  • Super Waygook

    • 260

    • May 30, 2019, 11:30:16 pm
    • in my car polluting your air
    more
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #5 on: June 04, 2019, 02:48:04 pm »
economic migrants, from Canada etc that flooded the market here
Canada's gift to the world. Please alert authorities immediately when you see them.

Description:
Daft-looking, eternally smiling happy faces male/female.
Often found to be trying to mask their Canadian identity by learning your language.
Cunningly courteous and uncannily friendly.
Thick, heavy GP accent featuring 'dirty RRrrr' rolls.

Easily identified by this item worn on the back:
« Last Edit: June 04, 2019, 02:54:06 pm by HappyPlanetAbuser »
Who's ready for another 4 years of Trump 2020!


  • hangook77
  • Hero of Waygookistan

    • 1239

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #6 on: June 26, 2019, 08:25:01 am »
We were through a massive recession 2009-2012

Nothing happened!

Korean employers continued to pay housing  :P  $$$$$$$$$$$$$$$$$$$$$$$$$$$$
Korean employers continued to pay for return flights  :P $$$$$$$$$$$$$$$$$$$$$$$
Korean employers continued to pay severance of one month's salary after completion of contract  :P$$$$$$$$$$$$$$$$$





Korean employers kept wages the same as inflation increased.  They cut round trip flight to one way flight.  So, now you take 100,000 won out of your salary to pay the return flight home.  So, you are actually getting offered 2.0 to 2.2 million instead of 2.1 to 2.3 a decade ago.  Add in inflation and other things and you are making much much less.  Add in a bad exchange rate for Americans and they are getting screwed the most.  Instead of wiring money home 12 or so years ago and having 1400 bucks in their account, they are lucky to have 700 bucks in their account doing the same things.  Barely enough to pay student loans let along actually save.  (They're kind of dumb for coming here.)   

I guess we did survive and limp on.  From 2009 to 2014 or 2015 or so, getting a low paying hakwon job with increased hours actually got very very competitive.  Nowadays not so competitive and easier to get.  But wages have only gone up for some.  They can be found.  But many others have not hiked the wages. 


  • T_Rex
  • Adventurer

    • 60

    • April 23, 2019, 08:10:20 am
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #7 on: June 30, 2019, 07:53:54 am »
economic migrants, from Canada etc that flooded the market here
Canada's gift to the world. Please alert authorities immediately when you see them.

Description:
Daft-looking, eternally smiling happy faces male/female.
Often found to be trying to mask their Canadian identity by learning your language.
Cunningly courteous and uncannily friendly.
Thick, heavy GP accent featuring 'dirty RRrrr' rolls.

Easily identified by this item worn on the back:

Canadians had it good for years. They were massively over-represented in ESL jobs considering the small size of their country's population (smaller than California's). They could come to Korea, enjoy a low cost of living, make serious bank, face little competition for the good jobs, and find lucrative privates without a lot of difficulty. Not so much anymore. The number of recent grads in America who have decided that teaching abroad is their best employment option has skyrocketed.


  • L I
  • The Legend

    • 3521

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #8 on: June 30, 2019, 08:16:14 am »
The number of people finding out about English teaching in Korea increases every year. This as the number of teaching positions shrinks. Which manifests itself as a greater and greater percentage of positions being given to females (even though the majority of applicants are male).

http://populargusts.blogspot.com/2016/03/when-it-comes-to-e-2-visa-holders-women.html


  • hangook77
  • Hero of Waygookistan

    • 1239

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #9 on: July 02, 2019, 03:07:37 pm »
economic migrants, from Canada etc that flooded the market here
Canada's gift to the world. Please alert authorities immediately when you see them.

Description:
Daft-looking, eternally smiling happy faces male/female.
Often found to be trying to mask their Canadian identity by learning your language.
Cunningly courteous and uncannily friendly.
Thick, heavy GP accent featuring 'dirty RRrrr' rolls.

Easily identified by this item worn on the back:

Canadians had it good for years. They were massively over-represented in ESL jobs considering the small size of their country's population (smaller than California's). They could come to Korea, enjoy a low cost of living, make serious bank, face little competition for the good jobs, and find lucrative privates without a lot of difficulty. Not so much anymore. The number of recent grads in America who have decided that teaching abroad is their best employment option has skyrocketed.

Really?  2.1 million a month in 2007 versus 2.1 million in 2019?  2 million won was 2100 buck US and is now around 1700 bucks a month.  One way flight now as opposed to round trip.  That means you subtract 100 thousand won to pay the return ticket now.  So, 2.1 million is now 2.0 million.  Subtract aprox 10% for deductions.  So, 2007 you had 1.9 left over.  Today (including flight 1.8 million) left over.  You could leave yourself 500,000 a month and not struggle too much in 2007.  You sent home 1.4 million and got close to 1500 bucks in your bank account in the USA.  A lot to both pay off loans and save.  Today with inflation and Korea being much for expensive, it ain't no deal anymore.  You have to leave yourself almost a million maybe 900,000 won.  (this includes money to pay the utilities).  Lets say a million to live off for the month.  So, you have 800 bucks to send home maybe less.  (I am prob being generous as costs are soaring here.)  So, it equals 700 bucks in your account back home.  Saving and paying off students loans will not be possible.  My 50 k loan had a monthly payment of 550 a month.  Take a trip or travel?  Not really much left over to do that with?  The same wage could let you live well at one time.

A lot of folks from the States are dumb if they come over for 2.1 million.  They can't do math or come from a rich home where everything was paid for and don't need money.  Canadians and Australians are getting a decent exchange rate for now.  So, long as commodity prices remain somewhat down.  Who knows when that may or may not change?  So, temporarily it can be decent if you get a high enough salary or negotiated yourself into at least an upper 2's or 3 million position for now. 

If you are young with lots of debt, you should do China or Vietnam.  Another Asian country too if you have some kind of TESOL.  I was just looking on Daves and saw some decent offers.  Comparable wages with a much cheaper living cost.  You can live better with more money to spend and pay off more debt.  Korea has to get with the program.  (Many hakwons do have shortages and can't get people because many don't want to pay enough.  That will have to change fast if they want to get people.)


  • L I
  • The Legend

    • 3521

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #10 on: July 02, 2019, 04:13:02 pm »
Hagwons want pretty young females.


  • NorthStar
  • Expert Waygook

    • 617

    • July 05, 2017, 10:54:06 am
    • Seoul
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #11 on: July 02, 2019, 04:31:17 pm »
Hagwons want pretty young females.

They are easier to push around and are always willing to do the bidding of the hagwon when it comes to posting on FB, for a either a replacement or an upcoming opening.



  • L I
  • The Legend

    • 3521

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #12 on: July 02, 2019, 04:48:34 pm »
Also statistically less likely to be criminals. So that's what the parents want.


  • NorthStar
  • Expert Waygook

    • 617

    • July 05, 2017, 10:54:06 am
    • Seoul
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #13 on: July 02, 2019, 05:54:24 pm »
Also statistically less likely to be criminals. So that's what the parents want.

Wow...I"m surprised certain snowflakes have not come out and called you a sexist for saying such a thing. 


  • L I
  • The Legend

    • 3521

    • October 03, 2011, 01:50:58 pm
    • Seoul
Re: What would happen to TEFL jobs if SK went into recession?
« Reply #14 on: July 02, 2019, 06:17:18 pm »
And sometimes the married guys doing the hiring want some eye candy / someone to flirt with.  :cry: