Korean Job Discussion Forums

KoreanLifer · Joined: 30 Jan 2003

the Bank of Korea has to be intervening in the Won.the JP yen is at an all time low(110)and the W is near the 1200 level again.why dont they let market forces prevail? its the Korean business mentality of making low quality products and exporting them for next to nothing abroad.

kylehawkins2000 · Joined: 08 Apr 2003

You should see what is happening against the Canadian dollar. I exchanged some money yesterday and $1000 cost me 926 000won! The rate was over 913won per dollar. That's the worst I've ever seen it.

I did some calculations and it ends up that (in Canadian dollars) I was earning more three years ago working my first teaching job with no experience and no BEd.

Now that sucks!!

RR · Joined: 28 Jan 2003

I think the Canadian dollar has been getting stronger recently, hasn't it been at all time lows in the last few years? Maybe the only way is up (which is bad for Canadians in Korea Sad

).

I think (and it is just MHO) that Japan and Korea are trying to compete with China. As long as the Yuan is kept artifically low (it is pegged to the dollar, right?), there will be this increasing pressure.

I know they were all talking about this at the conference.... China still refuses to even consider floating the Yuan, and that gives Japan and Korea their excuse to the US for intervening in their markets..... the result is that the US is now letting up on the "strong dollar" policy of the last decade....

So I guess it is a "who wins" arguement. Can the US bring the dollar down faster than Japan or Korea can bring down their currencies? Well I guess it is easier to mess with the Won as the economy is so much smaller..... but then that limits the Korean Bank's resources too....

The dollar has been so high for so long though.... I would bet on the Korean won going up in value in the long run (especially if China can be forced into adjusting the Yuan up).

RR

GlowStickGirl · Joined: 22 Aug 2003

i'm not sure if you realize, but a weak WON, like a weak YEN for Japan, is beneficial for Korea since its export goods make up most of its GDP. why do you think the Japanese government has been intentionally attempting to keep the yen weak throughout all of this year?

i'm not sure what you mean by "korean business mentaility of making low quality products and exporting them for next to nothing abroad" either. do you even know what kind of goods korea exports? on the technological front, korea exports the most flatscreen lcd displays in the world, and i for one can attest to them being of superior quality. and obviously, you know about their semiconductor industry...

please elaborate your logic in these claims.

Paji eh Wong · Joined: 03 Jun 2003

RR · Joined: 28 Jan 2003

Glowstickgirl,

Gotta disagree on this one.... I think Korea still competes on price, not quality. Yes they make high-tech products, but they are not the best. I think Japan's still gottem' beat by a mile...

I mean, Sony might export less PLASMA WEGAs, but man they are beautiful.

RR

GlowStickGirl · Joined: 22 Aug 2003

For your information, Sony is in agreement with Samsung to use their flat screen technology for its television and computer monitor products.

But you knew that, right? Ok, just checking...

rapier · Joined: 16 Feb 2003

What does all this mean for my savings? Is it advisable to buy up U.S $ and stash them under my mattress?

The Bobster · Joined: 15 Jan 2003

shawner88 · Joined: 01 Feb 2003

khyber · Joined: 16 Jan 2003 Location: Compunction Junction

i don't know sheet about economics but if i wanted something a bit more reliable, i'd go for the euro. I mean, who knows where the dollar will go? The US economy keeps getting VERY speculative it' getting better with warnings almost as consistently.

Almost exactly one year ago (if i was getting paid the same wage as now), i'm making 400$ less. Can you image how much blow you could get for that??? :wink:

GlowStickGirl · Joined: 22 Aug 2003

listen to a gentleman by the name of George Soros and do exactly what he does.