Koreans in the Philippines are considered the largest Korean community residing in the whole of South East Asia. Such immigrants are now owners of real estate properties in the country. It is estimated that almost a hundred thousand are living in Luzon, mostly in Manila.
South Koreans are attracted towards the low cost of the education and real estate in the country. It is significantly cheaper than those offered in their native South Korea. Another factor to consider is the warm climate and the tourist spots that the government is actively promoting. Retired Koreans with a fixed pension are also encouraged to settle here. It is due to the potential of the local businesses and opportunities in the economy.
Acquiring Real Estate Properties
Metro Manila continues to house the largest Korean population in the Philippines. Koreans mostly acquired real estate properties in Quezon City, Manila, and Makati City. Even as early as 2002, Koreans reportedly own real estate houses in Paranaque, paving to the high concentration of Korean natives in the area.
Due to the rise of the Korean population, local businessmen decided to take advantage by setting up convenience stores, restaurants, gyms and travel agencies that cater to their needs. Neighborhoods can expect a Korean store almost in every street in places such as Alabang, Kalayaan Ave., BF Homes, Maginhawa among others. Real estate properties such as condominiums, apartments and lots are acquired by Korean settlers who decided to marry local Filipinos and start families.
More foreigners such as Koreans are now becoming interested in buying properties in the country. However, the real estate laws in the country prohibits foreigners from owning such spaces absolutely. While it is prohibited, it is not absolute. Foreigners may still own real estate properties, provided that there are limitations.
Education and English Proficiency
One of the reasons for the rise of the Korean population in the country is the interest for education. With the boom of English-based jobs in other countries, Koreans resolve to learn the language by enrolling in Philippine universities. The cost of the university tuition in the country is less comparably to other countries that is English-proficient. This trend of South Korean students started even way back in the 1960s. Since 2000s, Koreans are enrolling as international students in order to know about language translations and other international languages.
Korean translators and English translators became in demand. Korean settlers often hire home-based and freelance English teachers to help them after school. These teachers are expected to be fluent in English and Korean translation so that they could converse comfortably with their students.
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