Korean Job Discussion Forums

Zutronius · Joined: 16 Apr 2007 Location: Suncheon

How low do you think the won will go? 1 million W is now worth barely 980 Canadian. Last week it would have been worth around 1010 CDN. Is it predicted to be low for quite some time? Kind of sucks sending money home now.

Czarjorge · Posted: Tue May 06, 2008 8:58 pm Post subject:

Look at the trend over the last five years. It could be a lot worse.

DCJames · Joined: 27 Jul 2006

Lee Myung Bak is supposedly in the tank for American policies.

The won will continue to drop while he's in office.

Adventurer · Joined: 28 Jan 2006

It is good that I am leaving after December. I think it won't be better necessarily to be in Korea for the long-haul. If the currency keeps dropping, you might as well stay home.

Ya-ta Boy · Joined: 16 Jan 2003 Location: Established in 1994

For the time being, the government seems to want to keep the Won as weak as the dollar. I'm guessing here, but it would appear that they want to keep Korean exports competitively cheap in the US (their second largest trading partner).

Sincinnatislink · Joined: 30 Jan 2007 Location: Top secret.

Before the mods deleted it, I had a post here that showed that the won is actually doing pretty well, historically. It's doing very well by five-year trends, actually. And that's a helluva lot more important than the last year or so.

http://finance.yahoo.com/currency/convert?from=USD&to=KRW&amt=1&t=5y