Korean Job Discussion Forums

[ManintheMiddle]

This question is being posed from afar, as I left Korea with my wife last summer for greener pastures in Hong Kong as the KRW began to nosedive.

So I'm really wondering: how are all of you, especially those who have families, managing to make ends meet now that the Korean currency has been devalued by nearly 40%?

I mean, from what I can see from the jobs posted here, salaries have not kept pace with inflation, nor do they reflect the lowered exchange rate.

So have the prices come down at the grocery store and elsewhere or are you just facing the fact that your savings will be worth much less if and when you convert it to another currency?

[esetters21]

It really hasn't made much of a difference as long as I keep my money here, as I don't need to exchange it into my home currency to pay bills back home. I make more and work less than many though, so I am content.

Yes, eventually I will have to convert the money into my home currency (which is still considerably a loss at this point) but I don't stress over it.

How is the "greener pasture" treating you? Are things peachy there? How does the HKD stack up with the exchange of you home currency?

[PigeonFart]

The person above is right. It only really effects you IF you convert it back to your home currency. Many people are willing to wait and see if it reverts back to strength. I'm willing to wait a few decades (well maybe not) if need be....i'm very patient.
Even if i leave Korea, i'd leave my money here until the exchange rate becomes more favorable.

Although i have definitely noticed inflation taking effect here and it would be more expensive if you have a family to take care of.

[GoldMember]

Some people have this idea of waiting it out until the Korean Won rises again.
Wow now we have a few English Teachers who are also experts at predicting currency movements.
Some of the best economists around can't get it right, but it seems some English Teachers can.
I personally have no idea, but another possibility is that it keeps going down down down.
Good luck hoping, because as they say on Wall Street, "He who hopes is a dope."

[tiger fancini]

Getting along just fine thanks, although the outrageously slow speed of this site gets on my nerves a lot.

[FistFace]

Well, since the won is back around 1240 or so, and I've kept my money here, I haven't lost anything. In fact, I've made money off of the seriously out-of-whack won by moving money around a bit.

But go ahead and keep up the doomsaying. It only means more work opportunities for me.

[Koveras]

I'm single and money wasn't the reason I came here. I'm doing fine, though irritated that my school promised me a compensatory bonus and then didn't deliver it. I'd already told people at home about it; it was embarrassing having to retract that.

[esetters21]

[Cohiba]

[Maneki Neko]

[okokok]

Cohiba's busted!

Christ, even the mods double post on this crap site.

[jkelly80]

BY POSTING IN ALL CAPS IT'S THERAPEUTIC.

[Maneki Neko]

[RufusW]

[esetters21]