Korean Job Discussion Forums

[Yokozuna85]

Hey all,

I tried researching this but couldn't really find it. Sorry if it was discussed (like a needle in a haystack).

Yes the Won is falling, so 1.8 million converted to US is a lot less than it used to be. But how are the prices in Korea? Have they generally stayed the same so that living in Korea is essentially the same? If I'm not planning on converting any money to the US...then the fallen Won shouldn't effect me with food, gym, cell phone, etc ...right?

Thanks!

[ttompatz]

[CA-NA-DA-ABC]

expect inflation to pick up if these exchange rates continue.

[marlow]

[definitely maybe]

[Yokozuna85]

[EzeWong]

1.8 is fine and dandy if you're going to a public school system.

Prices for me haven't changed enough to move my lifestyle. I still go and buy things for the same price. Smaller mom and pop stores are too lazy to change prices And in large markets I haven't seen a big jump enough to make me change my buying habits.

Don't worry about that stuff unless you have to send money home.

I live like quite the king here on my tiny 1.8 salary. I got out drink like a fish, take people out and pay for their dinner, buy $35 dollar books that I end up regretting, $200 coats, and have enough to go to PC bang and get a cream soda all with enough change in the bank to pay big Sally FING Mae her blood money.

[Dukey77777]

I used to buy 1kg of almonds for 6,000 won.

I went yesterday and it was 9,000 won!!

An increase of 50%!!! Needless to say I will be leaving Korea because of this outrageous development.

[bogey666]

this topic has also been discussed at length. Search a bit.

it depends on prices for WHAT.

you will find food here quite and at times preposterously expensive, unless you buy purely Korean products that is and live a life of daily kimchi and ramen.

Fruit is preposterously overpriced. Veggies are somewhat cheaper, but in terms of food expect to pay US prices or much more (fruit, for e.g. 2x, 3x, sometimes more).

I have to pay almost 2000 won for a 150g can of tuna, that's ridiculous.

Beef of course is also ridiculously priced.

basically expect to pay about 1.5x, perhaps 2x what you'd pay in the US for food - unless you want to eat like a Korean of course, regularly in which case it still won't be as cheap as you might think.

but nothing comes remotely close in terms of "Korean price inflation" to anything as the famous "room salon".

1, 500,000 won??



bwaaaah hahahahahahahaha

[harryh]

With the won losing value, exports will become even more expensive. Even with many basic foods which you'd consider non western, possibly come in from China.

When I arrived six years ago, I was on 2,000,000 won a month. Wages haven't changed much, and I believe, won't in the near future.

From memory, for a three pack of tuna I paid 3,495 won six years ago. Now I pay 5,395 won.
Pork mince was 350 won per 100g, now I pay 950 won.
In general, all prices are up, up, and up.

For a single person, only here for a short while, money can be saved. Especially if one buys korean products.

For those with a wife and children, 2,000,000 isn't great. No, it's bad.

[jvalmer]

I know my 1.5-liter bottle of water now costs about 1000 won at the local mom-pop shop. A few months ago it was a mere 600 won. But I'm still spending less then 700k most months.

[Ya-ta Boy]

To keep things in perspective, last Wednesday the Won was at 1390 and yesterday it was at 1208. It's moving back in the right direction for us.

[bassexpander]

Now it's around 1230 something. I am curious what will happen in the next week. The bailouts and profit-taking on won exchanges probably caused the surge in the past few days. The won may be heading down again.

[yingwenlaoshi]

Prices started going up in April or May and they really started to shoot up drastically in the summer.

Doritos: 1000 (start of year price) to 1200 (current price)

Ice cream drumsticks: 1000 to 1500

Beef: Seems to vary store to store. I was getting ribeye for 4200/100g at Hanaro Mart at the beginning of the year, but now I see it at 6000 and up at Lotte Mart, E-Mart, and smaller grocery stores. It's weird though. If you stick to Australian ribeye, Lotte Mart has it at 3,450 while E-Mart is 5,480. And I think both are grade A. Why such a difference?

Samgyeopsal at Don Dae was 3500 and now is 3900 for one serving.

Big loaf of bread: 2000 to 2400

Australian white chedder: 7000 to 9200 (something like that)

The list goes on...

[bassexpander]

Won seemed to be having a tough day against the dollar. It was in the mid 1250 range when I walked by Woori bank this afternoon.