This paper, using the case of South Korea, empirically examines how university students in EFL countries understand the neoliberal emphasis of English and EMI, and interpret and respond to different language ideologies. The findings demonstrate that many South Korean English language learners are caught up in a nexus of conflicting language ideologies influenced by the neoliberal promotion of English and the increasing socioeconomic polarization within South Korea. On the one hand, their investment in English language learning is largely driven by the belief that English is essential for their socioeconomic advancement. On the other hand, many perceive that the role of English as an important resource and a major criterion to measure one's academic and professional abilities is not objective or fair. Finding calls for a more critical approach to understanding the adoption and implementation of EMI in higher education.