The Korea Herald profiled a celebrity English teacher a little while ago.
Yoo Su-youn, who teaches TOEIC classes at YBM e4u Language Institute in Jongno, downtown Seoul, is a star lecturer. Her classes are fully booked each month, her personal essay collection is a bestseller at local bookstores, and her annual income reaches about 2 billion won ($15 million).
The continued popularity of TOEIC, or the Test of English for International Communication, is driving her success, but Yoo said many people do not understand what the test means.
Of course a big obstacle to any foreigner striking it rich this way is that we don't own our E-2 visas, and I'd suspect setting up online tutoring would be illegal. And, as demonstrated by Yoo, the big money here is teaching toward tests.
Meanwhile, in other tutoring news:
Since the Education Ministry launched a nationwide crackdown last week on private education institutes and tutors, 1,884 tutors have voluntarily registered with local education authorities to avoid sanctions, the ministry said yesterday.
Further, reports made to authorities by third persons on tutors and illegal operations of hagwon, or private education institutes, tallied 292 over a one-week period ending Monday.
. . .
With the exception of university and graduate school students, tutors must register with education offices in their residential district so that the National Tax Office can impose income taxes.
A person without a full-time job who teaches several students at home is illegal if he or she isn t registered.
Schoolteachers are banned from tutoring and two or more people working as tutors at the same residence are also illegal regardless of their registration status.
The article also shows that if you can't get rich teaching you can always try narcing.
People reporting illegal tutors to authorities can receive 20 percent of the tutor’s monthly income as a cash reward. For reports of hagwon overcharges or operations beyond curfew, 300,000 won ($235) can be rewarded. Those reporting unregistered hagwon can receive 500,000 won. The ceiling for rewards per tipster is 2.5 million won a year.