Korea

Dinner with an old friend

This weekend passed by much too quickly.  Why do weekdays pass by so slowly, yet the weekend whizzes by before you know it?  It’s a rhetorical question, of course.  Time really does fly when you’re having fun.  It’s a statement that’s more than a cliché.  Perhaps I need to enjoy my work more so it too will pass by quickly.  Of course I already enjoy what I do for a living immensely.  I think I have the best job in the world.  Still, working is never as much fun as having time off.  On Saturday morning I went into work for a few hours.  Much as I like my job, I can think of many other activities I would rather do outside the office—especially on a Saturday.  For example, I’d much rather meet up with old friends.

 

On Saturday evening, I had dinner with an old friend I never thought I would see again.  He is a Korean executive I tutored in English a couple years ago while I was pursuing my MBA at the University of Washington.  I tutored him for almost half a year in Seattle.  He was the first Korean to introduce me to Korean food, and for that I am very grateful.  We spent a lot of time doing numerous activities in the Seattle to help him improve his English.  We did a few of the things you must do when visiting Seattle, such as hiking and drinking coffee at Starbucks while watching the rain pour.  He told me many stories about Korea.  At the time, I had no idea I would end up living here and filed them in the back of my mind.  I still remember many of his stories and suggestions.  He returned to Korea in 2003.  When I arrived in Seoul, I E-mailed him to let him know I now live here.  His E-mail returned to me undeliverable, and I thought I would never locate him.  My wife, who still speaks Korean better than I, called him a couple weeks ago, and we finally reconnected.  He was pleasantly surprised to find out I was here and that I will be here for a couple of years.  He told me that he no longer works at his old company and now has a much better job with a smaller company.  Unfortunately, it’s located in Busan, and every week he has to commute back and forth between Seoul and Busan (about three hours by high-speed train).  He doesn’t want to relocate his family to Busan because his children are at a critical age when living in Seoul is important to getting into some of the best universities in Korea (most elite Korean universities are in greater Seoul).  It’s tough on his family, but he says it’s worth the sacrifice.  Knowing what I know about Korean culture now, I believe him.

 

We reunited on Saturday night for dinner.  I met his wife and children for the first time, and they met my wife and son for the first time.  We spoke both Korean and English.  My friend speaks excellent English, but his family does not speak it well.  My wife and I speak some Korean, and we tried to talk in Korean as much as we could.  Fortunately, my friend was a good sport and served as translator.  His family really enjoyed seeing our life here in Seoul in an American enclave.  They were also surprised to see some of the amenities we enjoy, especially our yard.  In a place where land is at a premium, having a lawn is a big luxury. 

 

I’m glad we were able to meet again.  We’ve decided to get together soon and will probably go over to his house for dinner.  In my relentless pursuit to meet and get to know Koreans, I’m glad I already have some good Korean friends in Seoul.  It is a challenge to befriend Koreans, and culture always seems to get in the way.  This is a good start.

It's all about the key money

I had lunch with a Korean coworker today.  We talked about life in Korea, and somehow the conversation migrated towards talking about housing and commuting in Seoul.  She lives with her family in northwest Seoul, works downtown, drops her child off at daycare in south central Seoul, while her husband commutes to work in southeast Seoul.  Unfortunately, her daily commute is long and complicated.  I asked her why she hasn’t move south to a more convenient location.  She answered that she rents an apartment in Seoul close to where her parents live.  Her parents take care of her son every morning before they drop him off at daycare.  Also, housing near the Han River is very expensive, making it cost prohibitive for them to relocate to that area.  It’s unfortunate that their housing options are limited.  Until they rent or buy elsewhere or change jobs, they will continue to have a long work commute via subway or bus.  Because parking is at a premium in Seoul, bus and subway are usually the best options for the typical Seoul commuter.

Korea’s housing sector functions somewhat differently than that of the U.S.  Many Koreans rent apartments.  Most renters pay a “key money” fee that grants them the right to live in a rental (exceptions include those who rent from other family members).  “Key money” is a very steep deposit renters must pay landlords up front before moving into a rental.  Renters can get their “key money” back after they move out of the property.  However, they receive no additional return for their deposit.  Consequently, Korean renters pay a lot of “key money” and have nothing to show for it once they get their “key money” back.  Koreans can buy their homes, but because they have to pay the entire cost up front, most Koreans do not buy homes until they are older.  They finance home purchases out of pocket, use funds provided by family members, or tap moderate lines of bank credit.  Few Koreans assume American-style mortgages.  Putting “5 per cent” down on a home is virtually impossible to do in Korea.  Those who cannot afford to buy or rent a home typically live with their parents until they marry or accrue enough “key money” to move out on their own.  Americans’ ability to buy a home with little money down gives them an opportunity to become independent at an earlier age and to start accruing equity early life.  While Americans saving very little and frequently have burdensome personal debt, many increase their net worth through home ownership.  In recent years, the U.S. housing market has boomed, and most U.S. home owners have benefited from substantial capital gains on their homes.  In Korea however, many Koreans wait until later in life to buy, and they miss out on early opportunities to purchase a home and build home equity.

Of students and eruptions

This afternoon I gave a presentation to college students at Chung-Ahn University in Seoul.  It’s the first presentation I’ve given in some time.  I thought I would be nervous, but I was not.  About 30 students showed up to learn more about studying in the U.S. and about steps they need to take to study there.  I used a PowerPoint presentation written in Korean as a guide (I frequently referred to notes in English).  The students seemed to enjoy the presentation, and I tried to liven it up a bit with some understated humor.  A colleague of mine joined me and did an excellent job translating my monologue into Korean.  The students were quiet throughout the presentation, and I had to coax them to ask questions at the end.  I’ve been told that silence is not typical during these types of gatherings.  Presenters are typically bombarded with questions.  Perhaps my presentation was so thorough that I answered all of their questions, or maybe they’re just introverted.  I doubt it.  I think they were shy.  After the presentation, some of the students came up to me with more specific questions, reinforced in my mind that they were interested in what I had to say.

 

I also spent time with one of the vice presidents at Chung-Ahn.  He received his Ph.D from the U.S. and had a fabulous grasp of English and the American education system.  I told him some of my impressions about the Korean educational system, including some I wrote about yesterday.  He clarified that Korean students do not have to necessarily change schools if they change majors.  However, changing majors is much more difficult to do in Korea than it is in the U.S.  He said that most Korean students go to the states to study English and then return to Korea to finish their degrees.  He appreciated that my colleague and I visited the school a community service to help Korean students learn more about study in the U.S.  He also pointed out that the university hosts many foreign students, and I told him that I was glad to hear that the university gave foreign students the opportunity to learn more about Korean culture.  Korean exchange programs are great outreach programs.

 

Today is the 25th anniversary of the initial eruption of Mt. St. Helens in Washington State.  I did not live in Washington at the time, but my dad was living there in anticipation of our eventual relocation there.  My family joined him in Washington State months after the blast occurred.  57 people lost their lives in the eruption, including Harry Truman, an elderly gentleman who had lived near the mountain for years and refused to leave despite repeated warnings.  The pre-eruption photos reveal what was once one of the most beautiful mountains in the U.S.  Mt. St. Helens even now looks quite barren and misshapen.  The area that surrounds it is still very devastated, although the vegetation has started growing again.  The remnant of what used to be gorgeous Spirit Lake at the base of the mountain is just a shadow of what it used to be.  My wife and I visited the mountain for the first time several years ago.  It’s quite humble standing before a mountain that has so obviously been scarred by a volcanic blast.  The mountain has recently started rumbling again, and its volcanic dome has begun to grow again.  It frequently lets off steam.  No one knows when it will erupt again.  It’s unlikely that it will have another devastating eruption like it did in 1980, but you never know.