Matthew Steele an Australian studying for his doctorate at Sunkyungwan University said that most young Koreans are spoiled. He said that in his country it is impossible to imagine asking his parents for money after graduating high school, adding that he earned tuition and spending money working as a hotel cleaner late at night. This is not only the case in Australia, but also in America and Europe.
According to a survey by the United States Public Interest Group, students who graduated from a private college had debts between US$40,000 and US$70,000 for tuition and living expenses. No students expected their parents to pay this off. Eugen Roeffler of Hana-Allianz Investments, who got his doctorate at Frankfurt University, said that he used 10% of his monthly salary to pay off loans incurred as living costs. Meanwhile Koreans in their 20s and 30s are relying on their parents for school fees and living costs.
A professor identified as "A," who retired from his honorary position some years ago, does not have an easy life. He is paying back loans using his pension as he had taken them out to send US$2,500 a month to his son in the US. Professor "B" gave up tenure to cash in his retirement pay in a lump sum to fund his son in the US. He now works as a lecturer on a time basis.
Professor Lee Soon-yong of Seoul National University said that this was created by two things; firstly parents in their 40s and 50s thinking that supporting their children is the most valuable thing in their lives; and secondly children who think they can get anything they want.
A man identified as "J" and living in Taegu married when he was a student, but this broke up in less than a year. He receives W1 million per month from his parents and whenever he needs more he asks. "J" is a typical mother's boy who can do nothing without his parents. They even paid his divorce payment settlement of W10 million.
Professor Lee Jang-young of Kookmin University said that young Koreans living with the help of their parents have the illusion that their parents' assets and status are theirs. They created major social problems such as the so-called "orange people" when they were students and as parasites when they graduate.
(Kim Ki-hong, darma90@chosun.com - May 15, 2001)
