English teaching in Korea was once one of the more reliable ways to live abroad, save money, and experience East Asia. For many people, it still is. But the numbers suggest fewer people are choosing it.
E-2 visa issuances fell from 2,448 in the first quarter of 2020 to 1,286 in the first quarter of 2026, according to figures cited in a thread that drew 89 responses from the EEIK community. That is a substantial drop, and the reasons behind it are worth understanding whether you are considering the E-2 path or already on it.
Wages Have Not Kept Up
The most consistent point across the thread: hagwon salaries have barely moved in a decade.
Many positions still offer between 2.3 and 2.8 million KRW per month (approximately USD 1,680 to USD 2,045). Several commenters noted that figures similar to this were common in the late 2000s and early 2010s, while the cost of living in Korea has risen considerably since then.
One commenter put it plainly: a 4 million KRW monthly minimum would make E-2 work a realistic career path. At current typical rates, the math on saving money has become harder to justify, especially after housing costs, food, taxes, pension, and health insurance.
The Won Has Weakened
Even at the same nominal salary, the real value of Korean earnings has fallen for teachers sending money home in USD, CAD, GBP, AUD, or EUR.
Exchange rates fluctuate, but the general trend of the Korean won against major currencies has not favored teachers in recent years. Money that once converted to a meaningful saving in a home-country account now stretches less far.
Fewer Children, Fewer Hagwon Jobs
Korea has one of the lowest birth rates in the world, and the effect is visible in hagwon enrollment. Fewer school-age children means lower demand for private English education. Several commenters pointed to this as a structural issue, not a temporary dip — one that is likely to affect both the number of teaching positions available and the leverage teachers have to negotiate better pay.
The Letter of Release Problem
The E-2 visa ties a teacher directly to a sponsoring employer. To change jobs without leaving Korea, teachers typically need a Letter of Release from their current employer.
Some employers use this as leverage. Teachers who want to leave difficult workplaces — poor management, withheld pay, unsafe conditions — can find themselves stuck because a refused LOR means either staying or going home. The community thread mentioned this as both a reason people leave Korea and a reason they think twice before coming.
Competition From Other Markets
Several commenters pointed out that Korea is no longer the obvious default for foreign English teachers. Vietnam, China, Japan, Taiwan, and online teaching platforms all offer their own versions of the deal, sometimes with better pay, lower costs, or more flexibility.
Korea’s advantage has always been its quality of life, relative safety, and cultural appeal. The K-wave still draws people. But cultural interest alone, as one commenter noted, may not offset the financial calculation if savings potential is low.
Is It Still Worth It?
That depends heavily on what you are optimizing for. The EEIK community is not uniformly negative on E-2 work — many members have had good experiences, found decent schools, and built meaningful lives in Korea on a teaching salary.
What has changed is that the margin for error is smaller. A good school with fair pay, housing, and a professional environment is still a workable situation. A bad school with stagnant wages, an LOR-withholding owner, and no legal recourse is a significantly worse one than it might have been ten years ago.
The practical advice from the community: research schools carefully before signing, review contracts thoroughly, know what you are owed under Korean labor law, and connect with the EEIK and LOFT communities before accepting an offer.
Useful Resources
- LOFT — Legal Office for Foreign Teachers (Facebook group): for contract review, rights questions, and LOR disputes
- MOEL — Ministry of Employment and Labor: 1350 (English support)
- Immigration — Korea Immigration Contact Center: 1345 (English support)
- EEIK Facebook group: for school recommendations, salary comparisons, and real teacher experience