There are now over 1 million foreigners living in Korea, yet the financial and telecoms industries in Korea continue to ignore them, offering them nothing but a “Sorry we don’t issue credit cards to foreigners” or “sorry, you need a Korean to guarantee you”
But I have a question here. How many companies around the world will just throw away 1 million potential customers without even a clear explanation?
It seems to me that there is a fantastic opportunity for any bank or mobile phone company in Korea to corner a 1 million strong market right now by throwing off these prejudices towards foreigners, many of whom earn far more money than their Korean partners, and granting them equal rights based on their credit history.
Come to think of it, that means that there is a fantastic business opportunity for any industrious Korean person to tap into 1 million customers by offering a service to these service hungry customers in Korea ^^
Now that’s a thought^^
