Korean Job Discussion Forums

[MissSeoul]

Every economy news on newspapers ( Korean newspapers and international newspapers ) say Korea is doing better than the rest of world.

Hyundai, Samsung, LG, all made huge profit even though global economy recession and the title of one international newspaper was " South Korea's economy is surprising economists ".

The wall Street Journal also said korea's economy is rebounding fast and doing much better than the rest of world and trade balance resulted in South Korea's second-largest current account surplus , totaling $ 5.43 billion for June.


This is a good news !

[bobbyhanlon]

you're like an arirang tv show
but yes, the korean economy is doing better.. its all about competitive devaluation.

[coralreefer_1]

Watch out guys..here is another thread concerning Korea that will likely be translated and have your nics attached to your posts and placed on some "anti-foreigner" website.

Beware

[earthbound14]

I don't know miss seoul,

While I can agree that the current environment seems to help the big corporations of Korea (as they often sell a broad range of discount products, economical products) and the poor economy at home has forced many people from higher walks of life to move down the old ladder to accept less money doing manual labour. Not to mention those very rich folks with cash have been able to cash in on cheap property as some of the smaller developers have been put out of business (or rising property values in what were low value areas of town like Nowon).

The rest of us are getting hit hard by extreme inflation of every day goods and services. A sluggish work environment, fewer job options and a bleak future where our won just will not go as far as it has done and getting a raise at work is becoming less likely. Buying a home now is risky as you are not likely to earn enough money from rising property values (as they should start to stagnate if not continue to come down in some places) to cover any loans you might need to buy it.

The big boys may be having fun, but the average Korean is getting hit right in the pocket book.

[Steelrails]

Yeah I've heard this tune before of a booming economy while the average joe is still in the same place or falling behind, brings me back to the glory days of W.

Miss Seoul, I tend to go on the 'Korean side' of things more often than not. This news is a definate not. The average Korean joe I talk to is definately feeling the pinch. He has a better idea of things than me, you, or any economist does.

Economists can take the jolly-boat out to sea in my opinion. They are absolute rubbish.

[asmith]

[GoldMember]

Miss Seoul is a Nationalistic, I have no ability for reasoning fool. Lee Myeong Bak is printing money like there is no tomorrow (as is Obama).
Its the money printing and associated devaluation of the currency that is great for export orientated chaebols, but for the average Korean the currency devaluation is leading to huge price increases. Household savings have tanked, most SME's are struggling and only surviving because of government guarantees and subsidies
In the future those massive interest payments will be a huge burden on the economy.
Take away the government guarantees, the money printing, and associated currency devaluation, and you'll see the real state of the economy.
Show me a Korean who takes great pride in a Chaebol doing well and I'll show you a ignoramus. There is a very good reason they do well, they are screwing over the average Korean. Oh I'm so proud Hyundai made a record profit, says the moron who paid $20,000 more for his Hyundai Genesis than the comparable US buyer. There's stupidity, and then there's stupidity that descends new lows that most can not comprehend. welcome to the world of Miss Seoul

[benji]

Go into any PC bang in Seoul at 2 in the afternoon. See how full it is with guys in their twenties to forties. Thats all you need to know about the Korean economy.

[crosbystillsstash]

[E_athlete]

[grunden]

miss seoul, you are proof of the insecurity of koreans.


why do you have to post this? Does it make you feel Big?

The bad news, China and Japan will always be the leaders in Asia. India is now growing, soon korea will lose all their tech secrets to China, and a country with no resources is like a desert, korea is falling, just wait

[asmith]

[madoka]

[MissSeoul]

[Epicurus]

Nonsense.

Korea's food prices are up 11% while other developing countries are cracking 2%. I posted the link here recently.

Then there's the issue of their worthless currency.

I always guffaw when I read how the won's been one of the best performing currencies this year.

Yes.

that's because last year only the Zimbabwe's money was more worthless.
It had nowhere to go but up

So Korea's exports are helped by the very weak won, and at home the cheobols can keep on raping domestic consmers pricewise like they've been doing for a good long time now.

What Korea should be doing is developing any at all links possible with China. (and I'm sure this is being attempted/done) . That will be region's growth area for decades to come.