Students in Korea study until midnight or later since middle school. I've done that before I moved to US. Most of my friends did it.
You do that for six years until you are eligible to take the nationwide exam that is held once a year.
Similar to SAT, but with many more subjects and more depth.
If you are sick or feeling nervous on that day, then good luck. Take it again next year or a year after.
It's very common that you end up taking the exam two or more times because you are not satisfied with your score, which means you have to study on your own after high school graduation for another year or more.
If you are a boy, you have to serve in a military for roughly two years. Most of students go to army during their college years, so they usually have 6 or more years of college.
When you are near graduation, start looking for jobs.
Not so easy. Unlike in the US, as a new grad, you can apply for jobs once a year for big companies like Samsung. It's a yearly thing just like the college entrance exam.
And, you have to take an exam and pass to even submit your resume.
Oh, popular companies share the same date for their exams, so you can only apply for one.
Make a choice before you apply. It's to lower the competition (or so that you cannot have a competing offer to drive up your salary).
On your resume, you have to put things like:
- your picture: they grade how you look. some people do plastic surgery for this.
- your age: you have to be fresh out of college. over 30? no chance.
- your family info (not sure if still required): what does your father do? how much does he make? where do you live? is it a rent or owned?
- list goes on.
Now if you are really lucky and you get into those big companies, then they will pay you $40k-$50k a year which is very high compared to small companies where $20-$30k is average.
But, now you have no life. There is no such thing as work life balance.
There's no equity compensation in Korea. You get only the salary and bonus.
Cost of living and housing price is very high (avg $400-500k in Seoul).
You need to slave away the next 30 years to get out of debt. Then, you must retire at age 60. (retirement age is set in stone and you basically get fired).
Now do you really want to give birth to your children who will probably end up living the same life as yours?
I think this somewhat explains the extremely low birth rate and very high suicidal rate.