University Positions
Technically, you need a master's degree in any field to get a university position. However, did you know that after doing a year's grunt work in a Korean hagwon, you are eligible for a position in most universities? To give you an idea of how wonderful universities are, I'll compare my current job with a job I've recently been offered.
Recent Job Offer:

Title: Professor
Location: University
Pay: 1.7 million won a month
Holidays: Five months out of the year
Work week: 20 hours, 5 days a week
Housing: Live in my own 2-bedroom apartment
Current Job:

Title: Teacher
Location: Hagwon
Pay: 1.2 million won a month
Holidays: Only the days in red on the calendars
Work week: 30 hours, including Saturdays
Housing: Live in a nice effieciency in the school
If you already have a master's or you've made it through a year in a hagwon, go for the university position. You can do more with your students. They are older, so they have more to talk about, they don't run into pronunciation problems due to missing teeth, you don't have to zip their pants for them when they come out of the bathroom, and they won't cry when you refuse to play the same game for the 100th time in a row.

I plan to get a university position for my next job. I'll let you know how it goes. I'm using
PCCS (Pusan Corporate Consulting Service) to help me find a job. This page will be updated once I am actually working for a university.