The credit Loan service

People use the Loan service if they need money. They usually use Credit Loan service because Credit loan lenders only access borrower credit rating without their collateral. We can borrow money from commercial bank but it’s difficult so most poor people borrow from private lenders. There are many private lenders in Korea. Most of them are from Japan. They lend money with high interest rate and if you borrow money from them your credit rating would go down.

There are three kind ways of credit loan service Private lending company, Bank, Savings Bank. First way is Private lenders. They have grown rapidly after IMF financial crisis because government removed law of restriction 25% annual interest rate. Private lenders have aggressively expanded market by advertisement. Japanese private lending companies have rushed in Korea after Government has allowed regally private lending business in 2002. Other way is Bank. We should have high credit rating if we want borrow money and borrowing limit is lower than private lenders. However, interest rate is much lower than private lenders. So why does difficult to borrow from bank? Commercial bank has huge capital and demand because of low interest rate. They don’t need to business aggressively even take risk. They also have to maintain healthy banking credit rating by reducing the risk.Savings bank belongs to nonmonetary institutions. In generally, this is financial mediation institution for money supply.Another way is Savings bank. Savings bank more accesses people credit rating than private lenders. Savings bank more accesses people credit rating than private lenders. Commonly, interest rate is higher than commercial bank. 

Total amount of loan exceed about 800 trillion won in this September and total interest rate is about 56 trillion won. This is serious problem because people’s incomes are raised less but most lenders raised interest rate high. It would cause economic recession because people would spend less. So the superior of the Financial Supervisory service made plans. That will reduce various kinds of interest rates such as student loan, commission of the ATM machine and credit card. He emphasized that commercial banks should relax regulation of credit loan. I totally agree his opinion. Many people want to borrow money from commercial bank. They have to share people pains when they suffered economic problems.  

Wedding custom in Korea

Today, happy wedding is became a difficult mission in Korea. Many young people want to achieve that but reality is not. Many people who have a partner for marriage face some problems before get married. They can’t get married only their mind or love because of exist many problems. They have to prepare house or other things and they also have to understand each other family members. Some people said that marriage isn’t just union of men and women, It’s union of each other family.

Differently as I mentioned, It’s also difficult to find well suited spouse if you don’t have a girlfriend or boyfriend. In this case, we used matchmaker. This way also has a problem. Most young people want to marry with their real love. My parents actually met by matchmaker. They don’t had huge expectation to each other and also don’t need much money at that time. At first, they don’t know each other well but as times goes by they are getting to know each other and finally bought a house in the Seoul. But this way has changed. Many matchmaking sites estimate people’s job, wealth or educational background. After that many people are looking for good background of spouse without personality or their values. In my opinion, most TV dramas have responsibility of this problem. These dramas don’t reflect our reality. They usually cover almost the rich people’s story so some young people have wrong expectation of marriage.   

Most serious problem is money. Marriage needs a lot of money. It gives to heavy burden for young people. In general, Man prepared the house and women prepare the other things such as furniture, electronics and home appliances in Korea. But I think that it is impossible to get a house for ordinary young men who want to live in the Seoul because of overinflated house prices. Furthermore, lease price is also high so they need a household loan. Besides, childcare expanse is also expensive. I think that many young people hesitate to marry because of these reasons. Government should lower housing prices and allocate more money to childcare expenses.

English education

Most students spend many times to study English even though university students like me. I am also studying English many times. English education is regarded important in Korea. Sometimes, I can’t understand this situation because even most elementary or middle school students were forced to study English hard. Besides, their parents spend a lot of money. Some parents live only without their children and spouse.

Why this atmosphere is caused in Korea? English is considered alike important like mathematic, history or literature when I was high school student. I also spent same times to study other subject and regarded important. But some years later, English is become most important class in Korea. Most students aim to high score of the Scholastic ability test because they want to entrance a good University. The high level of Universities only evaluates some subjects like English or mathematics. So most students never study some subjects like history or science.

Furthermore, English is more important to get a good job. Many university students are trying to get high score of English test because many companies want good score or level of English to their applicant. Most students have to spend their time and money to study English even their major. If we have a high score of English test, we can make a good chance for getting a good job. In contrast of this, most office worker thought that they don’t need to speak or write English in their task because they actually never use their English ability. In spite of reason for globalization, this situation is Ironic.

In my case, I like to study English. I hope to improve my speaking and writing ability of English. But I think that it’s severe to someone those who don’t want to study English, very young students or their parents. So I hope that we’ll change English education to right and practical way.