It appears that you can skip both college and university and just come to ATOT for all of your English grammar and spelling needs!
Seriously, though, what are your plans to "teach English as a second language in a place like Korea"? Have you read up on Shawn's
Korea Life Blog? If you start from the beginning, it's more interesting and it might give you a better idea of what to expect.
My wife runs English schools for children in Taiwan, so I've gotten a some insight on what it means to teach over there. The number one criteria is that you need to look Western.
Seriously.
If you're Asian-descent and were born in the US/Canada and speak perfect English and have a PhD in education, you'll still be hard-pressed to find a job. They'd rather take a blonde-hair, blue-eyed German with a heavy accent an no degree over you.
Generally, though, you'll also need a degree of some type. I've never met a teaching in Taiwan who had English or teaching experience/background/degrees. I also know that you can easily purchase a degree on the streets of Bangkok.
Teaching English in Asia appears to be a pretty easy (although maybe not very productive and a potentially irresponsible) life. If you're a Western-looking guy, you'll also get a lot of attention from certain types of women and life could be very, very good. Note that I didn't say you have to be a good-looking guy; just Western-looking.
Good luck!