And a few more from Julie:
"Do you know if salary is tax free? I've heard you can earn up to
$38,000 USD equivalent pay - is this true? Do you save as much as they
The salary is not tax-free. You pay 3-5% tax, depending on various factors. And, in some cases, you may be liable for paying taxes back home as well. And, you'll also have to pay about 4.5% of your salary into the National Pension, and you may or may not get that back, depending on what country you're from.
$38 000 US= 42.5 million won or around 3.5 million/month. And yes, it is possible to make that much money in Korea. I usually do. But, I've been in Korea for 7 years and know how the system works, and how to make this much. And, I work at a uni with base hours of only 12/week. This leaves PLENTY of extra hours in the day for me to work overtime. Standard starting salaries are around 2.2 million/month, teaching 30 hours/week. You can assume that this is what you'd be starting out at. And overtime opportunities are not really plentiful in the entry-level jobs. Most people save around 1 million/month, for a total of around $10 000 US/year in savings.