"At one point you criticized someone's ideas as to why foreigners with no training are hired to teach English, but I never noticed any speculation on your part. I'd like to know, if you're willing to take a stab: why do they hire from such a pool?"
It all comes down to supply and demand I guess. Lots of people want to go teach in Japan, so they get an overwhelming number of people applying, hence the rigorous interview/application process. And everyone wants to teach in Thailand, hence the required TEFL certificate. And in the Middle East, the salary is so high, that it's easy to require a CELTA. And who wouldn't want to live in Europe? Hence the EU citizenship requirement, as well as a CELTA in most cases. And Hong Kong is so cool, which is why it's hard to find a job without a teacher's degree.
Now Korea. Not exactly a prime place to live for most people, although I find it altogether enjoyable. And the ESL industry here is not exactly on the up and up, if you know what I mean? Which is why the benefits and pay are so good. Despite that, just not that many want to come and live and work here, leaving the basic requirements of a pulse, and a 4-year degree to teach ESL in Korea. Koreans don't care so much about experience, as they do appearances. So, if they can find a blond-haired, blue-eyed North American girl to teach little Min-su and Ji-Hae, they'll take it. Some places even prefer inexperienced teachers that have no training in ESL because they're more easily
However, I will say that things are changing these days. GOOD jobs are getting much harder to come by, with the recent economic downturn in North America leaving a bigger pool of people wanting to come to Korea. If you're willing to work out in the countryside, then you'll find a job in no time. But if you want to work in a bigger city, be prepared to search around for at least a couple months to find the job you want. Gone are the days when you got a phone call one day and were on the plane the next. I foresee in the near (<10 years) future a Korean ESL industry that looks a whole lot more like Japan.