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Yu_Bum_suk
Joined: 25 Dec 2004
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 Posted: Thu Feb 26, 2009 10:00 pm Post subject: |
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| It should be a very interesting year. I think that many of Korea's chickens may come home to roost. |
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On the other hand
Joined: 19 Apr 2003
Location: I walk along the avenue
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| Posted: Fri Feb 27, 2009 12:02 am Post subject: |
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| Kimchi Cha Cha wrote: |
| mises wrote: |
| pkang0202 wrote: |
| Ilsanman wrote: |
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Much better off than Koreans with Bachelor's degrees who can't even get a job being the night watchman at an OfficeTel.
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Those jobs are reserved for pensioners. |
Bad example, but you get the drift. I would say, be prepared for the Anti-Foreigner sentiment to heat up and boil over in months ahead.
Think about it. Hundreds of thousands of fresh college graduates can't get a job. All of whom are Internet savvy. It won't take long for one frustrated jobless Korean to go on the internet and complain about how foreigners can get jobs with majors like Sociology or Communications.
When times get rough, blame the foreigners. We should all know the mantra very well. |
I think you're right. |
It's already happening in some parts of the peninsula. |
I've been hearing about crackdowns on illegal tutoring since I came to Korea in 2001, seemingly unrelated to the economy. I think it's just one of those on-again off-again enforcement things, like the anti-prostitution busts that they do every few years.
Granted, there is a certain hypocrisy involved, since all the most respectable members of society are hiring illegal tutors, while tacitly condoning the government's crackdown. But you get that double-standard anywhere you have a large pool of immigrants doing illegal work. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Feb 27, 2009 7:32 am Post subject: |
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| Yu_Bum_suk wrote: |
| It should be a very interesting year. I think that many of Korea's chickens may come home to roost. |
Chickens? How do you mean?
Korea has used the export model of development very well, but with a permanent decline in US demand (peak demand) they need to reorganize the political economy towards internal consumption and actually becoming "dynamic Korea". I think they can do it, though it will take some time. They will continue protectionist ways, though more directed at China and other low cost manufacturers. I do not think they will be able to afford their absurd system of food subsidies and tariffs. |
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Adventurer
Joined: 28 Jan 2006
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| Posted: Fri Feb 27, 2009 9:23 am Post subject: |
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| Kimchi Cha Cha wrote: |
| mises wrote: |
| pkang0202 wrote: |
| Ilsanman wrote: |
| Quote: |
Much better off than Koreans with Bachelor's degrees who can't even get a job being the night watchman at an OfficeTel.
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Those jobs are reserved for pensioners. |
Bad example, but you get the drift. I would say, be prepared for the Anti-Foreigner sentiment to heat up and boil over in months ahead.
Think about it. Hundreds of thousands of fresh college graduates can't get a job. All of whom are Internet savvy. It won't take long for one frustrated jobless Korean to go on the internet and complain about how foreigners can get jobs with majors like Sociology or Communications.
When times get rough, blame the foreigners. We should all know the mantra very well. |
I think you're right. |
It's already happening in some parts of the peninsula. |
I can understand that sentiment. However, English teachers help many Koreans learn an international language which helps the country compete with the world. As far as private lessons, I am not sure if the government tries to crack down more on that during a bad economy or not.
A friend of mine who left Korea who was a single mom and paying off debt avoided giving privates until her pay went down by 35% due to the exchange rate, but her boss didn't raise her salary. She took on a second job. I guess it must be handy to have an F2 visas because they can take on privates, unless they are supporting a wife. Privates are illegal and the exchange rate is low and people are worried about the economy over here and the exchange rate getting worse.
It is still somewhat advantageous to work here, but not so much anymore. If you can get a somewhat decent job back home or get into a master's program, you may be better off..... I am not sure...
Last edited by Adventurer on Fri Feb 27, 2009 9:53 am; edited 1 time in total |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Feb 27, 2009 9:36 am Post subject: |
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So, what does an English teach make these days? 2.0 mil still? That's 1300 USD, or 15,600$/yr. Good god!
Ok, so the flight +2k and say apartment (!generously!) at 10k/yr.
We're up to 27600 in total compensation.
Wow! The won has screwed esl teachers! And it is going to get significantly worse before it gets better (the won-usd rate). Korea is just starting her depression and America is likely at or near bottom. Korea also has growing trade deficit, current accounts deficit and budget deficit. And it can't just print money willy nilly to prop up the economy. Look to a MUCH lower won.
Maybe only the Indians, Singaporeans and Filipinos will be willing to work in Korea in the near future. |
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Kuros
Joined: 27 Apr 2004
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| Posted: Fri Feb 27, 2009 10:06 am Post subject: |
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| mises wrote: |
So, what does an English teach make these days? 2.0 mil still? That's 1300 USD, or 15,600$/yr. Good god!
Ok, so the flight +2k and say apartment (!generously!) at 10k/yr.
We're up to 27600 in total compensation.
Wow! The won has screwed esl teachers! And it is going to get significantly worse before it gets better (the won-usd rate). Korea is just starting her depression and America is likely at or near bottom. Korea also has growing trade deficit, current accounts deficit and budget deficit. And it can't just print money willy nilly to prop up the economy. Look to a MUCH lower won.
Maybe only the Indians, Singaporeans and Filipinos will be willing to work in Korea in the near future. |
2.0 million is bottom of the barrel starting. 2.2-2.3mil is more likely for no experience. 2.5 and up in Seoul with experience.
That's 1400 to 1500 USD. If you're a lifer not much has changed. If you've got no experience its still the best place to be. If you're not a lifer and you've got experience, go to China. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Feb 27, 2009 10:11 am Post subject: |
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So, adjust to 30,000k yr then, for Seoul. Seems reasonable.
That is quite the haircut from a couple years back. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Feb 27, 2009 10:14 am Post subject: |
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| Wait, China? Last I saw China paid around 500-900$/month for esl work.. That was a few years ago. |
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Kuros
Joined: 27 Apr 2004
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| Posted: Fri Feb 27, 2009 2:22 pm Post subject: |
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| mises wrote: |
| Wait, China? Last I saw China paid around 500-900$/month for esl work.. That was a few years ago. |
Mises,
I should slap you. China is a big country. There are good jobs within the big cities for those with xp and a certificate. Yes, you must wear a shirt and tie. But at those jobs you can earn the equivalent of +2,000USD, but housing is not included. And in those same jobs you're usually working for Americans, but never Koreans. |
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Privateer
Joined: 31 Aug 2005
Location: Easy Street.
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| Posted: Sat Feb 28, 2009 3:31 am Post subject: |
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| mises wrote: |
| pkang0202 wrote: |
| Ilsanman wrote: |
| Quote: |
Much better off than Koreans with Bachelor's degrees who can't even get a job being the night watchman at an OfficeTel.
|
Those jobs are reserved for pensioners. |
Bad example, but you get the drift. I would say, be prepared for the Anti-Foreigner sentiment to heat up and boil over in months ahead.
Think about it. Hundreds of thousands of fresh college graduates can't get a job. All of whom are Internet savvy. It won't take long for one frustrated jobless Korean to go on the internet and complain about how foreigners can get jobs with majors like Sociology or Communications.
When times get rough, blame the foreigners. We should all know the mantra very well. |
I think you're right. |
We're not competing for the same jobs. The way they see it, they need us even more, to give their chances of finding employment a boost. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Sat Feb 28, 2009 8:19 am Post subject: |
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| Kuros wrote: |
| mises wrote: |
| Wait, China? Last I saw China paid around 500-900$/month for esl work.. That was a few years ago. |
Mises,
I should slap you. |
Eek. |
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mises
Joined: 05 Nov 2007
Location: retired
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Tue Mar 03, 2009 2:04 pm Post subject: |
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We're up to 27600 in total compensation.
Wow! The won has screwed esl teachers! |
I think you're looking at the wrong end of the stick. What really matters, to me at least, is how much spendable income I have after necessities. Then there are the intangibles that come with the expat lifestyle. Life is far more enjoyable here in Korea than at home.
I will admit however, that life was even more enjoyable when the Won was at 1,000 to the dollar. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Tue Mar 03, 2009 7:17 pm Post subject: |
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| I'm not knocking it. The USD numbers are surprising. |
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