Can You Earn Enough Working as a University Professor in South Korea?
Rising prices and stagnating wages mean times are getting tougher for teachers in Korea.
It’s 5am and I am roused by the sound of my two year old son shouting “Appa!” (Daddy in Korean). I slowly swivel out of bed, groan and pad over to his room, lifting him into my arms as he giggles, wide-eyed, pleased to see me. Here starts another workday teaching at a university in South Korea.
When I arrived here in 2011, I felt like the king of the world. I had been teaching in Spain for the past few years, where the wonderful lifestyle could not make up for the paltry salary, no matter how hard I tried to stretch my €1,200 per month income. Stepping off the plane at Incheon airport, I had the sense I had ‘levelled up’ financially as I was greeted at arrivals by a limo driver holding a sign with my name on.
I was whisked off to a 5-star hotel in downtown Seoul where I was to stay for a few days before my teaching contract began. Looking at the magnificent view of downtown Seoul from my bedroom window, I really felt like I had finally made it after several hard years of financial hardship in Spain.
Things in those days in Korea were cheap. Subway tickets were 1,000 won (less than $1) and food, clothes and cigarettes were also cheaper than at home in Europe. Due to the incredible demand for English language lessons however, I was immediately able to earn north of $4000 dollars per month, with housing paid for and airfare home once a year taken care of. This was a massive departure from the frugal existence I had been living in Spain and it’s safe to say, I went a little crazy on the spending front for the first couple of months, making the most of my new found financial freedom.
Now, 10 years later, in 2021, it’s a different story. Inflation has really started to bite, and the cost of living has soared, so that people earning a normal income are struggling, big time. The cost of eggs, vegetables and other groceries are at an all time high. According to the newspaper The Joongang Daily, the average house price in Seoul, as of April 2021, was almost $1 million. ONE MILLION DOLLARS!! And what do you get for your money? A three bedroom flat in a high-rise block with no outside space, no garden and little privacy. At seemingly breakneck speed, normal people are being forced out of the housing market as demand soars and prices skyrocket.
But what about me and my little family? Well, I’m still here, working as a university professor. I’ve definitely noticed that the won in my pocket doesn’t stretch as far as it used to. My salary has gone up slightly in the 10 years since I first arrived, but to maintain the same lifestyle, I’ve had to take on extra classes (which are becoming harder and harder to come by as the pandemic and resulting economic slowdown kick in) and look for new sources of income as the cost of living continues to grow.
That being, said, living outside of the financial hell-bubble that is Seoul helps. I’m currently based in a smaller, more provincial city where costs are definitely lower than they are in the capital. Apartments cost less and in a smaller city, it’s easier to move about on foot or by bike, saving even more money. There are lots of beautiful parks and we’re near the sea, which counts for a lot, especially with small children in tow.
So, what does the future hold? I foresee further rises in house prices and everyday goods until the government manages to get a grip on things. There is no evidence that salaries are likely to increase any time soon, and jobs for the young generation coming straight out of school and university are becoming increasingly scarce. For the time being, there will be many more people relying on the generosity of parents and family members, working second jobs or looking to the internet for sources of extra income.
