Korean Job Discussion Forums

[bassexpander]

I bet this is killing the won and the KOSPI.

So you ban companies for pushing dealers to meet sales targets??? Sounds a little odd to me. Is this reciprocity for the milk thing?

[laogaiguk]

[Temporary]

Its what the Meeguks should have done LONG AGO.

[weatherman]

[Frankly Mr Shankly]

I'm all for putting capricious and subjective trade restrictions on this country and its people for whatever reason seen fit.

[jkelly80]

Looks like 한국 just got 동생ed

[cdninkorea]

[Ya-ta Boy]

Whatever the real reason behind it, KOSPI doesn't like it: At 2:00 the KOSPI is down 116.37 to 1223.91. Coincidentally, the Won is down 80 to 1323.00.

While some posters above seem to be enjoying Korea's discomfort, it may not feel so good to see Korea suffer when 1) the US is headed into a recession and now 2) Korea's largest trading partner shuts down car imports.

It looks to me like China is flexing its muscles vis a vis Korea. Not necessarily economic warfare, just a warning shot across the bow.

Here's a link to the Chosun Ilbo story: http://english.chosun.com/w21data/html/news/200810/200810160017.html

[PeteJB]

Bahahaha.

It has begun!

[Eedoryeong]

I don't get what some posters are so happy about. Is this a reason for any posters here to celebrate? Or are all gleeful posters posting from the US/Canada? If you're working in Korea I'm all ears as to how this is great news. I'm under the impression that the Chinese market is a major artery into the economy of Korea, and that this will further affect our ability to exchange currencies.

I'm also under the impression that access to that market is the reason for other stuff like how the Korean coast guard keeps trying to stun and arrest (and not make 'disappear' a la bodies-in-wood-chippers disposed of in the bottom of the sea, not that I'm giving any ideas) the otherwise-ought-to-be-dead Chinese fishermen pirates who fish in Korean waters and have killed like 29 Korean coast guard officers to date.

Korea ought to retaliate by banning a whole slew of Chinese products. They'd be well within their right given China's ubiquitous product crappiness. But then China would do its stupid face-saving thing and randomly slap more Korean products. If it went far enough, the Won would tank and good luck getting a seat on the next flight back home.

Is that not generally the way things would go?

[maddog]

I'm with Eedoryeong on this. Anything that has a negative effect on the Korean economy is bad news for us.

[aka Dave]

At this point we really don't need a lot of protectionism in the global economy. Remember Smoot Hawley?

I read recently that China was Korea's biggest export market, the USA being second. I hope I read it on Dave's.

[Ya-ta Boy]

Congratulations. While you guys were enjoying your moment of schadenfreude, the Won just dropped 129 in ONE DAY. It's now

W1372.00 to the US dollar

Maybe if the Won drops another 129 tomorrow some of you will begin to figure out that your finances this year depend on Korea's economic success.

[sojourner1]

Whatever it may mean, things look like they're heading South. Don't expect to get your boat lifted anytime soon. It would be bad to be in the position of selling Won at 1500 to 2000 or worse and then head home to a worsening economy with you short sized savings in dollars. Hopefully next year brings about some positive changes.

[maddog]