Making Dollars through Translation

By Jiyeon Lee

The translation market is a multi-trillion dollar market worldwide. With more economic exchanges between Korea and the rest of the world and the revitalization of K-culture, I think there will be more demand for translation and interpretation. AI is developing, but professional translation requires human hands.
I'm a freelance translator working in Korea, and I'm going to show you how you can make money translating.
I'll give you specifics on where to find work, how to get paid for your translations, what agencies in each country are like, and what to look out for.
Within two weeks of thinking about translating, I signed a contract with a translation agent, started translating, and became a freelance translator.
I thought it would be good to share my process and know-how with anyone who wants to become a translator.
I hope that my experiences and trials and errors will help you.

• Language: English
• Publisher: Jiyeon Lee
• Release date: Feb 13, 2024
• ISBN: 9798224685240

Jiyeon Lee

Escritor y traductor coreano Trabajé en el mundo corporativo durante 13 años y encontré que el dinero era una carga. Temía que tener dinero me convirtiera en un blanco de explotación y robo, y de hecho, sucedió. Las emociones sobre el dinero impactan significativamente la relación entre uno mismo y el dinero, y a menudo tenemos fantasías vagas sobre el dinero. Como alguien que era ignorante sobre el dinero, lo estudié, cambié mi perspectiva y documenté el proceso de transformar mis pensamientos. Espero que esto pueda ser útil para aquellos que están lidiando con preocupaciones relacionadas con el dinero.

Book preview

1. Establishing a Foothold in the Translation Field Within Half Month

Idecided to start working as a translator from January 1, 2021. Fortunately, I began a contract with an overseas company in early January. I opted to work as a freelance translator and decided not to join a company. Regardless of the type of company, working in a corporate setting worsened my ADHD, leading to a diagnosis and medication. If I were to return to a corporate environment, it seemed more likely to be dementia rather than ADHD.

Alright, since things turned out this way, I've decided to break free from the corporate life and make a living doing what I love. I've made up my mind to live life on my own terms, even if it means earning less money. As a freelancer, I've explored the possibilities of the work I can do.

I originally disliked the work I was doing, so I didn't look back. I've always enjoyed reading books, writing, studying English literature, and translating. By chance, I discovered the opportunity to work with an overseas translation agency, applied for about two weeks, and ended up securing a contract with them. I worked with that agency for a month. Combining my previous experience, education, and various skills, I negotiated my first contract at an intermediate rate among translators. After that, I managed to secure contracts with four more agencies within a month, gradually increasing my rates. They gave me some work from the first week, but it was really minimal. The following week, they gave me a bit more, and by the third week, they suddenly overloaded me with tasks, surprising me. Now, it's the fourth week.

The agency I registered with has a great policy where freelancers receive payment for the work done in the same month. This morning, I received payment through PayPal for the work I did in the third week. While the amount may not be significant compared to my previous salary, I'm grateful for the fact that I learned and worked on something I love without investing much time. It's a moment of pride, realizing that I earned dollars and made a small contribution to the national economy.

During this time, the project manager from the overseas translation agency I worked with asked if it would be okay to introduce me to another PM within the same agency. I replied, 'SURE, why not? I want to take on more work.' It turns out their colleague needed my assistance. So, I got introduced, took on additional tasks, and even received more work from the PM who made the introduction."

I initially had suspicions, thinking the agency might be a ghost company or a scam, and I voiced concerns like 'Your company information is too scarce. Will you pay on time?' The doubts proved unfounded as payments were made promptly. The person in charge, who happened to be the agency's director, stated, 'Our client has decided to send more projects our way. If you can continue working, receive feedback from the PM, and manage the tasks, we could potentially offer you more work. We might even be able to provide a workload similar to a full-time position. Are you open to that?'

I love to. Isn't the biggest concern for freelancers getting consistent jobs? So, suddenly, within a month, I received an offer for regular, full-time work. Yeah, I love translation. As I think about it, even though there are probably other Koreans who have worked with the Director or PMs there before me, I kept feeling like they were constantly asking me questions and only assigning the challenging tasks.

Anyway, it's been less than a month since I joined, and I'm grateful for this offer to work regularly and full-time with the company.

Someone said it takes a short time, around 2 years, and a longer time, up to 3 years, to establish oneself as a translation freelancer, earning a living solely through translation. While my dream is a half-baked dream of being a semi-leisurely worker, I feel like too much work might strain my already fragile head. However, being a freelancer, I believe I can control the workload.

I'm currently registered with four agencies, and I'm preparing for another sample test. For the time being, I need to restrain myself from taking on too much business. I find translation agency sales quite enjoyable.

I am incredibly happy these days. Working on what I love at home, wearing comfortable clothes, without dealing with strange, bad, crazy, or harassing people all day. I can work when I want, take breaks when I want, sleep a lot, eat when I want, and earn enough money to live while witnessing my skills and abilities grow over time. It makes me think about the time I spent working at a company, wondering if it was all in vain. I sometimes regret not becoming a freelancer sooner. Even though I've just taken the first step, everything seems to be falling into place faster than I expected, and I am finding my footing.

That's right.

Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened." (Matthew 7:7-8)

2. The reasons why I could earn over 3 million Korean won in just six months as a freelance translator.

Isuccessfully established myself as a freelance translator in just six months. While it often takes time to secure a foothold in the field of translation, I managed to earn over 3 million Korean won within the first six months, with some months reaching 5 million won. However, I experienced burnout, took a break to organize my work, and now, I typically work for 2-3 weeks, earning 3-4 million won. The remaining time allows me to engage in activities like exercise, reading, writing, and even tending to my cat's needs. Truth be told, due to my age, I can't fully engage my mind for an entire month. It feels like my brain is wearing out. I consider myself to have a stable position if I can consistently earn over 3 million won. That's sufficient for a decent lifestyle.

It might not be reasonable to say that everyone can establish themselves as a freelance translator within six months. If I were to explain why I was able to do so:

(1) Consistent English Study:

First and foremost, I never let go of English since middle school. Even during the stressful bar exam preparations, I went so far as to study extensive vocabulary, such as 22,000 words. Did I really need that for the exam? Probably not, but I did it simply because I enjoyed English. In my 30s, I made an effort to read original English books. Furthermore, I pursued a graduate program specializing in English and law. So, I've been studying English for over 20 years, and I genuinely enjoy it.

(2) Relevance of Expertise and Career Background:

Furthermore, I worked in the legal team at a company for over 10 years, where I frequently encountered English and handled many legal tasks in English. While engaged in various responsibilities at the company, including litigation, contract review, regulatory