South Koreans hope fortune-tellers point way to top of the class

South Koreans hope fortune-tellers point way to top of the class

Fortune teller Song Byung-chang looks at a child's fate, or Saju in Korean, at his office in Seoul

8:13am EDT

By Jane Chung

SEOUL (Reuters) – Byun Mi-kyong sat quietly with her hands in her lap as she listened closely to every word the fortune-teller said about her daughter’s chances of getting into the right university. Dealing with intensely competitive college entrance exams has driven South Korean students to despair, and sometimes to suicide, as they fight for the few places in the best programs that are seen as the key to a successful career. Anxious parents have long sought hints from fortune-tellers about how well their children will do in school. But now Byun and others are turning to divination for specific guidance on picking the most promising activities, courses and colleges.In the heat of summer, Byun went to the shaman’s house in Seongnam, a city on the outskirts of Seoul, giving her daughter’s name and date of birth to the softly spoken man dressed in a traditional, white Korean costume.

Alongside a large shrine with golden statues and colorful paintings of deities, she sat across a small table from the shaman as he leafed through the books of his trade.

To Byun’s great relief, he said her daughter would get into her dream university, especially one with a name starting with J, D or K. The 19-year-old wants to go to Joongang, known officially as Chung-Ang University, to study nursing.

“I could not have a heart-to-heart talk with anybody about this but I can speak frankly about what’s in my mind to him,” Byun said after the 10-minute consultation.

“It was a big help to me.”

The shamans, men and women who perform traditional religious rites, say parents asking about their children’s academic and career prospects – at 50,000 to 100,000 won ($45 to $90) an hour – usually take the advice they get very seriously.

“If I give guidance to parents, they just follow it blindly for their kids,” said professor-turned-shaman Choi Kuing-hun.

RAIN OR SHINE?

Shamans base their recommendations on “saju”, or fate, determined by the four “pillars” of a person’s life: the year, month, day and time of their birth.

Every bit helps, it would seem, when aiming for a spot at university.

Up to 600,000 students take the college entrance exams each year and their preparations are grueling. Teenagers put in long hours as they pack into cram schools after a day of classes.

But the pressure takes its toll. Nearly 40 percent of teenagers said they felt suicidal, according to government data.

Hoping to ease some of the stress, Song Byung-chang has advised nearly 16,000 people over the last 19 years. Parents turn to shamans, he said, because luck plays a big part in a complicated admissions process and his guidance can help families minimize the risks.

“If I have to go to an outdoor event next week, I would probably check the weather forecast,” Song said, adding that fortune-telling “is exactly like that.”

Kim Do-kyung started college preparations early for her 13-year-old son, consulting Song about the boy’s best subjects. Word of success spreads fast among parents keen for any hint of help, she said.

“Many parents come here by word of mouth because some moms said their child did better than expected,” she said.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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