KGIC Inc LGLTF

Korea Office Closed

[schoolboy]

After 17 years, the Seoul office was closed on May 26. Now, the only way they can recruit Korean students is by bribing a few unscrupulous agents with unrealistically high commission rates.

[jimbrofski]

It's ok. There is a huge flood of Indian students coming to save the day. Go look at any KGIC school. They are all full of Indians now.

[jimbrofski]

And Batman has registered. And Trump will make a great president. And Toronto is a gorgeous city. And Banx will come up with a new, non-fast food metaphor for 'BIG MAC'

[60606060]

The Korean scam is over. If students want to learn in Canada they have many peers to talk to. Paying agencies is one big kick-back scam against everyone doing real work in this company.

[jimbrofski]

Agencies are an important part of the study abroad industry. They provide students with recourse and accountability in their home country. The agent system will never go away. Only schools that rely on 50%+ commissions to attract students because of the low quality of their programs. Hey everyone meet...KGIC schools!

[schoolboy]

60606060, KGIC has been heavily reliant on Korean students from day one. 96% (accurate figure) of Korean students apply through agents. 

[jimbrofski]

Most schools who deal with agents in Korea pay commissions between 20 to 35%, which is a fair range considering the amount of marketing and recruitment that is done there. KGIC was 50%+, trying to undercut other schools at an unsustainable level. Sadly, 'Big Mac'-so-called-doesn't get this and he's chasing a white whale of indian students. If it pays off, it will pay off big. But

[jimbrofski]

or is it a pike dream? Either way this is one stinky fish!

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[schoolboy]

Nope. Kaput. Done. Crickets.

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[banx]

I believe Big Mac disagrees with you. He would have more insight. The biz from Korea seems way too expensive. Better to shift focus and pay more normal commish if required. I'd rather see less rev but higher margins. There's a big upside here but you gotta have the patience of that biblical character named Job.

[jimbrofski]

Sighhhhh. Meet........yawn.....Banx. Do you have any idea how hard it is to reel back established commission rates? Send your students to us. We will pay you less to do so. Hence, KGIC is screwed in Korea. End. Of. Story.

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