Korean Job Discussion Forums

[jezzbah]

I've been trying to get a job started before the end of December the past few months, but everything's been falling through because either something shady came up with the contract or the school could not take on two new teachers (I am applying with my boyfriend).

There are blacklists out there that have been somewhat helpful in terms of recommending recruiters/schools to stay away from, but there are not a lot of "white lists" out there recommending any decent schools. Are they out there? Has anyone had a somewhat positive experience or know of any schools that aren't completely shady?

Also, the plummeting value of the won has me second-guessing my decision to jump one sinking ship to (seemingly) another. Anyone know any legitimate and helpful predictions about the current state of the won and its projected future?

Grrr.

[Ramen]

I heard wonderland is hiring.






















Seriously, apply for public school gig.

And as for the won rate, you guess is just as good as mine. Consider Japan or China. They are becoming much more attractive.

[PEI George]

Regarding the won:

It will get much, much stronger. The main question for debate is: when will this happen?

It is ludicrously underpriced right now. One of the world's most influencial macro-economists believe 1300 was "way too high":

http://www.koreatimes.co.kr/www/news/biz/2008/11/123_34280.html

Historically, the won has fluctuated around 1000w/$, give or take a hundred. The current rate of 1497w/$ has little to do with economic fundamentals, but uncertainty. The American economy has the major problems, not Korea. These problems have effected the whole world and no one knows how deep the problems are or how bad they will get. But American government bonds are still secure, so those with Korean stocks would rather a bit more security. They sell their Korea stocks, buy American bonds and the won depreciates.

But that is very short-sighted. Korea is in a much better position now than it was during the 1997 collapse. If everyone pulled out all of their foreign investments from Korea tomorrow, than the government could pay them with the currency reserves. The foreign exchange issue will not be a problem again.

Bottom line: you are not going to see a salary drop if you come here soon. You will likely see a salary increase. Perhaps something around 50%. But that depends how long you stay. If you are only here a year, than you will may not see any dramatic gains. But looking at 2-3 years when the financial crisis may be resolved, the won should be back to normal.