Financial crisis sends many Korean students back home

CEBU, Philippines - The past few years they were coming in droves to the Philippines, but with the world financial crisis, many Koreans have decided to head back home.

The number of Korean nationals in Cebu, who are here to study English, has reportedly gone down.

Charlie Shin, vice president of the United Korean Community Association in Cebu, told The FREEMAN that more than 3,000 of his countrymen have already headed back home since January.

“Simply because they no longer have the money, they have to go back home,” Shin said.

 As a result, two English language schools based in Cebu catering to Korean students, have already stopped operating due to the decline in enrollees.

He however, refused to name the schools.

Shin added of the 15,000 Koreans in Cebu last year, only around 11,000 to 12,000 have remained.

The exodus has not only hurt the schools, but also other businesses catering to the students like the apartments and boarding houses.

Shin however said that although Korean tourists are still on the top list of visitor arrivals here, their number continue to drop.

 Shin said that around 3,500 Koreans visited in Cebu every week last year, but this has dropped to 2,000 recently.

Based on the data provided by Romeo Juñia, acting regional director of Bureau of Immigration and Deportation, Koreans are have the most tourists visiting Cebu with 161,505 arrivals in 2008.

 Shin added that even Korean airlines had to reduce their number of weekly flights from Seoul to Cebu to 22, from 28.

 Shin, who has lived in Cebu for the past several years, is still optimistic that Koreans love to visit Cebu because of its fine weather, beautiful beaches and the warm hospitality of the Cebuanos.

 “Despite of the crisis, Koreans still continue to visit Cebu. Koreans love Cebu. Cebu is peaceful,” Shin said. — /NLQ   (THE FREEMAN)