[Korea Joongang Daily] Bigger churches mean bigger financial woes (2013.11.20.)

[스케쳐 최재진]

Bigger churches mean bigger financial woes

http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=2980700

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Until 2001, churches usually had a tough time securing loans. Houses of worship were not considered good collateral, so pastors often had to get loans in their own name or the church elders formed a corporate body that borrowed on behalf of the church.

But that changed dramatically in April 2001 when Nonghyup, looking to diversify its business, created the “Mission Loan,” specifically designed for churches. In just 10 months, there were 380 loan applications and 171.6 billion won was lent. 

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Sarang Community Church in Seocho District, southern Seoul, is one of many that have come under fire for moving into overly extravagant buildings.

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Hwang Seung-young, chairman of the Christian Journalists Association of Korea, said that setting up a base in uncharted territory was big on many churches’ agendas. “There is this notion that you have to go and conquer new territory,” said Hwang. 

Long ago when Gangnam became the center of Seoul’s development, the churches rushed in, and much of the same happened in Bundang and Ilsan, as is happening now in Sejong City. People equated church buildings with a propensity for growth. But that is no longer the case. 

To pay off their mortgages, churches institute “building offerings” - envelopes dedicated to raising money for the new structures. But they also need more members, and many churchgoers feel burdened by the obligation.

“A lot of parishioners leave a church when it makes the decision to construct its own building,” said Hwang.

It often causes an uproar when a church takes to building a bigger, better sanctuary. In the last two years, one of the biggest churches in Seoul, Sarang Community Church, has come under attack for building a new church that connects directly to Seocho Station - such a prime location that many wonder how the church pulled it off.

Then there was the ethical dilemma over whether a church should be so materialistic in its building. 

“It’s becoming impossible to carry on the cycle of building a new church, attract more followers and then pay back the loan,” said Hwang.

Rather than bringing people in, the new buildings drive people away.

“The burden to give not only affects parishioners financially, but also their faith,” said Bae Jong-suk, head of the Christian Management Review.

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