[비즈한국] #1. A, 38, is a recognized employee with over 10 years of experience after joining a commercial bank through open recruitment. After nearly three years of working in the chairman's office—notorious for its demanding nature—A was offered the opportunity for "overseas training," with the company promising to support his enrollment in a prestigious U.S. MBA program.
However, A cannot easily decide to go. While it is a great opportunity for his four-year-old child, the burden of spending millions of won every month during his two-year stay abroad is daunting. The fact that his wife, who works in the private sector, would have to quit her job, leading to concerns about becoming a single-income household upon returning to Korea two years later, is also holding him back.
2. B, 40, recently received an offer to work abroad in Europe or the U.S. from a major conglomerate. Although he accepted the job based on the "company name," he is now deeply concerned about the overseas posting. His biggest worry is the rising cost of living abroad. Even though the company provides a local living stipend on top of his salary, he is constantly anxious after hearing others say that "it's almost impossible to save any money" due to the soaring cost of living.
Since his wife works for a public company, she could take a leave of absence to accompany him abroad, but he finds himself envying a colleague who was sent to Eastern Europe, where the cost of living is relatively lower. He has heard many stories about how people in the U.S. or Western Europe have to live on a tight budget because the basic cost of living—from housing rent to education expenses—is so high.
There is talk that overseas postings, once highly coveted, have now become something people try to avoid. In particular, the number of people in the MZ generation who say they "want to avoid overseas work" is increasing due to concerns over rising costs caused by exchange rate hikes, children's education, the spouse's career break in dual-income households, separation from family, and safety issues. The volatility of domestic real estate prices also adds to the fear of leaving Korea.
B, who currently lives in a home rented under the *jeonse* system, confided, "The price of *jeonse* fluctuates by 100 to 200 million won and purchase prices by 200 to 300 million won in a single year. I'm afraid that if I work abroad for three or four years or more, I'll return to find myself priced out of the housing market. It's scary to think about buying property for my child's education before I leave, or selling everything off before I go."
A said, "If I attend a relatively affordable state MBA program in the U.S., the company covers tuition, but the rent for a place for my family to stay is over 2 million won alone. If we want to travel and enjoy life there, I'd have to spend about 2 million won a month from my own savings. I think it would be a great experience for my family, but since my wife would have to quit her job, I’m terrified that we’ll be a single-income household after we return two years later."
In the construction industry, where environments are relatively harsher, these concerns have existed for a long time. Because employees are often sent to developing countries with relatively poor living conditions, the avoidance phenomenon has been naturally pronounced. Consequently, in 2023, the Ministry of Land, Infrastructure and Transport and the International Contractors Association of Korea established regulations to recommend special housing supplies for private homes with a dedicated area of 85㎡ or less for overseas construction workers. The condition is that priority is given to workers who have worked abroad for more than one year within the last 10 years, have returned within the last two years, and meet the first-tier requirements for a housing subscription savings account.
An official from the HR team at a major conglomerate shared, "In the past, overseas postings were often seen as a place for 'aces' to take a bit of a break, but now, with an increase in visits from CEOs and executives in major countries like the U.S., there is more protocol work involved. Also, as the proportion of overseas business grows, there are increasing cases where a posting can actually become a liability depending on performance." He added, "It is true that while many applicants still hope for English-speaking countries like the U.S. for their children's education, positions in countries with high inflation or poor safety are not as popular as they used to be."