GTN Korea Launches Comprehensive Support for Japanese Students and Expatriates in South Korea

Global Trust Networks, headquartered in Tokyo, Japan, has initiated a full-scale launch of a comprehensive lifestyle support service called "Korean Life Support" through its subsidiary, GTN Korea, located in Seoul. This service aims to support Japanese individuals traveling to Korea, including students and corporate expatriates, in securing various essential aspects such as housing, employment, telecommunications, and financial services.

Background of the Service Launch

The demand for Japanese individuals traveling to South Korea for business exchanges or study has seen unprecedented growth. According to recent surveys by Japan's Ministry of Education, Culture, Sports, Science and Technology and the Japan Student Services Organization, the number of Japanese students studying abroad has reached an annual total of 89,179, with South Korea ranking third as the most popular destination after the United States and Australia. Notably, short-term studies lasting less than one month have doubled compared to the previous year, indicating a diversification of purposes and styles for traveling to Korea.

However, the South Korean real estate market presents distinctive commercial customs that differ significantly from Japan, creating various structural barriers for expatriates and individuals straddling both countries trying to secure a stable living environment. High security deposits (jeonse and wolse), often amounting to millions of yen, and the complexities of contractual agreements frequently lead to misunderstandings and disputes over the return of deposits.

In light of these challenges faced upon relocation, GTN has decided to roll out this proactive service.

Challenges Faced When Relocating to Korea

1. Differences in Rental Systems: Unlike Japan, where monthly rent is standard, South Korea often requires security deposits in the range of millions of yen. This leads to significant initial cost burdens and concerns about financial management and deposit returns for Japanese individuals.

2. Difficulties in Contractual and Rights Relations: Language barriers and a lack of understanding of commercial customs make it challenging for foreigners to comprehend contractual terms, which can result in problems such as non-return of deposits.

3. Property Acquisition During Short Stays: Japanese citizens can stay in Korea without a visa for up to 90 days, but finding adequate accommodation during short-term studies within this timeframe can prove exceedingly difficult.

Features of the New Service

GTN Korea, in collaboration with Able, a major real estate company in Japan, is providing tailored solutions based on rigorous property evaluations conducted by licensed professional brokers in Korea. The following support options are now available:

Corporate Solutions: Ensuring Safe Housing for Expatriates

- Deposit Replacement and Subleasing Services: GTN takes up the properties and sublets them to clients, allowing contracts to be made under the name of the Japanese headquarters, thus reducing the risks associated with high deposit management.
- Management Services in Japanese: From repair handling to the final settlement upon move-out, all services are conducted in Japanese, significantly reducing the workload for HR and administrative staff.

Student Solutions: Comprehensive Support from School Selection to Move-In

- Complete Study Abroad Support: This package includes assistance with applications to partnered university language courses and housing searches in safe areas, ensuring Japanese individuals can complete all necessary arrangements from Japan.
- Flexible Stay Periods: Properties suitable for short-term stays of one month up to long-term studies are available, and additional furniture and appliance rental options can facilitate an easier transition.

Reliable Backup System

All properties are legally checked by licensed brokers who understand South Korean real estate and have extensive experience dealing with foreign nationals. Furthermore, native Korean staff with knowledge of Japanese culture offer meticulous support based on their experiences in Japan.

GTN Group, with the mission of enriching the lives of individuals who transcend national boundaries, aims to contribute to furthering business and educational exchanges between Japan and Korea through this service.

Comments from the Business Director

Chung Kwang Hyun, Executive Officer of Global Trust Networks, stated, “For 20 years, GTN has been dedicated to supporting foreigners in their housing and lifestyle needs in Japan. Our experiences revealed that the greatest source of anxiety for foreigners is the inability to perform what is ‘normal’ due to systemic and language barriers. As more foreigners are moving to Korea for study and work, they face the same hurdles we encountered in Japan. It is our mission at GTN Korea to apply the expertise we have gained in Japan to assist our clients in Korea, creating an environment where they can focus on their goals without being hindered by bureaucratic obstacles.”

About GTN Korea

GTN Korea, based in Seoul, is composed of experienced Korean staff who are fluent in Japanese and well-versed in Japanese culture. Leveraging on GTN’s past achievements in supporting foreign residents, the company offers real estate consulting and lifestyle support in Korea.

- Company Name: Global Trust Networks Korea Co., Ltd.
- Location: 7F, 122, Jong-ro, Jongno-gu, Seoul, Republic of Korea
- Website: GTN Korea

About GTN

Since its establishment in July 2006, GTN has provided specialized services for foreigners, focusing on housing (rent guarantee and rental agency), employment support, telecommunications, and financial services in Japan. Approximately 70% of the employees are foreign nationals from around 20 different countries, allowing them to address a wide array of challenges faced in daily life by understanding cultural and linguistic differences.

- Company Name: Global Trust Networks Co., Ltd.
- Location: 2F, Oak Ikebukuro Building, 1-21-11 Higashi-Ikebukuro, Toshima City, Tokyo
- Website: GTN