Korean Job Discussion Forums

[Adventurer]

People transfer more money than usual... The Korean won is going to go down further. I am not an economist (my old man is), and I am going based on my reading of things, and the Korean won is connected to the fate of the dollar, and Korea needs to export its cars.

[esetters21]

[Chris_Dixon]

im going to hope that in a year its on the way up.

[Motto]

truth is though that we don't know, if you can predict the future exchange rate of the won you don't need to teach english.

having said that if your american would suggest its fairly stable as the korean government will willingly meddle with its own economy to keep it that way.

as for the EU/� German consumers are spending less with 5 million unemployed and the UK is in a so called 'credit crunch' and possibly on the verge of a property market crash.

but again we don't know, wait and see or transfer is the same gamble. you could sit on the fence and transfer half your money though

[JMO]

It looks like i'll be here for another couple of years...but i will have to pay for a masters in english pounds. I should be transferring as much home as possible now?

[mrsquirrel]

Strengtheded against the pound this week or the pound weekend.

Was 2075 last friday 2036 this friday.

[Eedoryeong]

I'm thinking of riding out this poor-exchange wave and making a huge transfer in maybe four or five years (actually, our plan is five years and then a permanent move west). Does anyone who knows something about this think the rate will bob back up to favorable exchange rates somewhere in the next four or five years?

I only recall from my high-school economics class that boom-bust cycles appear to run in 8-year cycles, which if true would be bad for my plan.

I'm hoping someone in the know will tell me the world's changed so much since 1988 and that my economics lesson is hopelessly outdated or inapplicable here.

Telling me my economics teacher was an idiot would be nice too.

[Cheonmunka]

Someone in the fuel wholesale industry, some spokesperson, said that if it weren't for the war gas would now be cheaper than what it was before Iraq. As in cheaper than $30 a barrell or whatever it was in 2000.
My guess is that if the US can stabilize itself in Iraq and get the fuel flowing, the USD will be up and up and Korea tagging along.
Can it happen?
In any case oil will be finding a new benchmark price, it won't go down - and with that economies will have to live with a higher price than before and manage. Those that rely on outsourced fuel will have to re-think how to raise their gdp to balance the accounts.
Korea has to think of developing new industries and making the best out of exisitng ones, like getting an international appreciation for hi-brid cheap vehicles, like developing its technical/scientific prowess, and things like that.

[cedarseoul]

according to the k-herald and bloomberg.com, respectively, both korean financial authorities and bloomberg's FOREX arm anticipate strengthening / stability against the US dollar for the time being; i think local inflation is beginning to resonate as a greater concern to the koreans than export power.

i'd wait at least a week or two before sending money back...see if it dips above 1000/1 again. it's possible.

[Orchidelirium]

I'm already doing it.

Anyone whose keeping their money in won and not placing it in a foreign account or investments that yield is a fool...

[Hanson]

[CabbageTownRoyals]