Korean Job Discussion Forums

poet13 · Posted: Thu Apr 02, 2009 3:43 pm Post subject:

Really kids, this thread is for grownups. Why don't you kids go start another thread and talk about how Alyssas daddy touched her pee-pee place and how she can only get off by licking her husbands credit cards.

michaelambling · Joined: 31 Dec 2008 Location: Paradise

poet13 · Posted: Thu Apr 02, 2009 4:00 pm Post subject:

Yeah, it's possible I suppose. But everyone is still saying there's worse to come. Unemployment is still rising, and the automakers may still go bankrupt... Japans economy is looking worse and worse, and a bunch of Eastern EU economies may fail completely...

The great irony is that the less developed world is not experiencing our pain....lol

GwangjuParents · Joined: 31 Oct 2008

The markets tend to be leading indicators.

So you could have a large rally in the markets all the while unemployment is going up and everything appears to be going to hell.

Personally, I'm pretty sure this is a bear market rally driven more by psychology, spin and optimism than fundamentals.

I'm counting on there being one more big dip, and I suspect the real bottom will be here around late summer or fall.

But who knows... it's all just one big crap shoot.

I just wish the Won would go down more...

poet13 · Posted: Thu Apr 02, 2009 5:48 pm Post subject:

Yeah, I'm really hoping for one more big dip. I think though that if there is one, it wont' be as drastic as we're hoping for. I'd like to see a clear 1400 (sell F/T rate) to buy back in. Right now I'm sitting on a lot of dollars that aren't earning money anywhere. If I can buy back in, I can put the Won in an interest bearing account (Money market), and hopefully also take advantage of the future weakening (I hope) dollar. With a strengthening Won (the two aren't the same), if everything works out, it's a triple dip.
My time frame is now 17 months.

Luciddreamer · Joined: 31 Mar 2009

Once you guys are about to go back your respective countries, are you going to transfer all of your KRW savings to your currency? I ask this because I am from the states and the dollar is weak to the won.

I'm from the states and if I save around 12,000,000 won and go back to the states with it, I'd have a little less than 9G.

How many of you guys would buy a lot of expensive stuff (maybe a laptop or expensive electronic) in Korea and then take whatever you have left back to your countries?

poet13 · Posted: Thu Apr 02, 2009 6:45 pm Post subject:

Luciddreamer. The Won is actually STRONG to the dollar. It's stronger than it has been in months. It's not as strong as it was last summer, but it's likely to get stronger in the next six to twelve months. That is, less won to buy one dollar. My advice. Hang on to your won for a while. Look for 110 to the dollar.

poet13 · Posted: Thu Apr 02, 2009 7:36 pm Post subject:

OK, so maybe 110 is a little optimistic....but let's shoot for 1100.

EDIT: To answer your question. YES, I absolutely will take my money with me. I plan to leave in 17 months, and I will need it. Hopefully after I've left, I won't ever come back. Too many other places to see in this big little world.

Tommy · Joined: 24 Aug 2005

I just thought of this: The north is fueling up their rocket, ready to launch this weekend. So if they do in fact launch it, this might have a negative impact on investor's feelings towards the south's security, economy, etc.
How high is the possibility that the Won will take a hit on Monday, assuming the rocket is launched this weekend?