Korean Job Discussion Forums

[arpeggi]

My employer is giving me the option to be paid in US dollars or Korean Won. If I choose the Won, then the rate will be pegged on the date of my 1st day of work.

Based on the current exchange rate (916 Won = 1 dollar), which is the better option, taking into account a strengthened or weakened dollar?

[Atavistic]

That is freaking weird.

[ajgeddes]

Get paid in Won. You are going to be living in Korea, so getting paid in US$ means you might be getting paid less by the end of the year compared to your living costs. However, I guess it could go the other way too.

[Atavistic]

Get paid in won and have it pegged to the US dollar on the first day? Do people actually sign contracts like that? I've never seen that in a contract ever.

[aaabank]

Interesting that your employer is giving you this option. Due to the recent decline in the dollar over the past several years in relation to the won, I'd say take it all in won (especially if you will be living here {you'd have to convert the dollars into won to simply buy food})

Take a look at these charts comparing the dollar and won for:

1 year:http://ichart.finance.yahoo.com/1y?usdkrw=x

2 years:http://ichart.finance.yahoo.com/2y?usdkrw=x

5 years:http://ichart.finance.yahoo.com/5y?usdkrw=x

As you can see, the won has steadily been outperforming the dollar for the past five years with very few exceptions.

[CeleryMan]

I smell a rat

[arpeggi]

thx for those charts.

yeah, a weaker dollar outlook for the next yr. or so means getting paid in Won would be preferable. as a matter of how low the U.S. dollar can go, it'd be dumb of me to even guess.

also, didn't really think about the 'convenience' of not having to convert into Won just for daily niceties.

[Ya-ta Boy]