Korean Job Discussion Forums

huck · Joined: 19 Jan 2003

woo, baby...

It just keeps going down...A couple more days of this, and it'll be time to open a US dollar account here, before it bungee jumps back up.

itaewonguy · Joined: 25 Mar 2003

OUCH! not good for me.
IM dying on exchange rates...

endo · Joined: 14 Mar 2004 Location: Seoul...my home

should I change my money now, or wait a while?

xCustomx · Joined: 06 Jan 2006

sojourner1 · Posted: Mon Sep 08, 2008 2:24 am Post subject:

Talk about volatility.... I hope we don't lose where it gets above 1300 to the US dollar. At 1000 to the dollar, you're making $2000 a month if getting 2 m Won. That's still quite low for one with a degree of any sort. $40,000 a year is my ideal level of income. I'm still working on that while those who graduated 10 to 20 years before me got that right off the bat in an entry level corporate position. At least I'm getting more time off than they ever did or will nor facing a lay off.

If the won hits a nice low of 600 to the dollar, then we got the $40,000 a year job at 2 m Won a month. That's all you need to be squared away if not spending too frivolously.

Trevor · Joined: 16 Nov 2005

I think it is important to consider what the world's economic and political conditions would have to be like for such a scenario (I mean, the Won hitting 600 to the $). For the U.S. dollar to lose 50% of it's value would certainly reflect a world crisis that would make our comparative raise in salary seem quite trivial next to the global disaster that must have preceded its fall.

Believe me, all other factors considered, you DO NOT want the greenback at 600.

aka Dave · Joined: 02 May 2008 Location: Down by the river

http://www.koreatimes.co.kr/www/news/biz/2008/09/123_30749.html

Won up 3.3 percent in one day. There is hope.

Draz · Joined: 27 Jun 2007 Location: Land of Morning Clam

I told you so. I sent money home, so it was definitely on the way up. Dammit! Rolling Eyes

huck · Joined: 19 Jan 2003

Thank you, Draz.

Try sending some more home tomorrow.... Smile

crusher_of_heads · Posted: Mon Sep 08, 2008 4:50 am Post subject:

DCJames · Joined: 27 Jul 2006

1000 won = $0.88 Shocked

Join Me · Joined: 14 Jan 2008

I would wait to send any cash to the US if anyone is considering it now. With the US government stepping in to bail out the mortgage industry in the US today there will be a positive impact on the global financial markets. A lot of what is going on in Korea now is just based on fear the media is passing around. Now, I am sure the media will jump on this wonderful news from the US and a little confidence will be infused into the Korean markets. Hopefully the won will keep heading in the right direction based on this.

Paddycakes · Joined: 05 May 2003 Location: Seoul

I don't know about this Fred/Fannie thing..

Basically the US government is going to bail out these two companies using taxpayer money, and basically add to an already huge US debt.

All this added US debt can't be good for the US... you'll deflate the dollar.

kingplaya4 · Joined: 14 May 2006

This sucks for me I have all my money in dollars and was thinking it was going to fall further, well it may still we'll have to see. The government of Korea is going to make a decision on Thursday about interest rates. An increase should give the won a further rally at least for a time. I would wait to see what happens on Thursday before making decisions one way or the other.

xCustomx · Joined: 06 Jan 2006