Housing Expense
Welcome to our Key Money Loan and Housing Policy page. This section is dedicated to providing you with detailed information about our policy on housing loans and related responsibilities. Understanding this policy is crucial for new instructors as they navigate their housing arrangements during their tenure with the company. We aim to support our employees in their transition to a new location, and this policy provides a structured approach to housing loans and rental responsibilities.
Key Points from the Policy
As you prepare for your transition, please note that you will be accountable for all housing and utility-related expenses. We encourage you to engage with your local staff representative to clarify any pending responsibilities related to your accommodation. To ensure clarity and minimize potential misunderstandings, we recommend that all communication be documented in writing.
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If not already discussed, please initiate a conversation with your direct manager regarding your housing situation and your associated obligations.​
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The Company offers a one-year housing key money deposit loan of 10,000,000 Korean Won to instructors entering a contract for the first time, to assist with housing arrangements within a 5 km radius of the Company or its schools.
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The Loan is provided on the condition that the housing contract is valid and binding, with the premises leased under the Company’s name, and the deposit held under the Company’s account.
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Instructors are responsible for all rent payments, utility and maintenance fees, and any damage fees associated with the housing secured by the loan.
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Upon termination of the agreement, Instructors must either repay the full amount of the Deposit to the Company, pay rent and all other associated costs until the Company receives the Deposit from the Landlord or vacate the premises if requested by the Company.
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If the agreement is terminated by the Instructor and the Company states the apartment is no longer needed, the Instructor is responsible for the realtor fee to place it back on the market and find a new tenant if needed.