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Lazio
Joined: 15 Dec 2010
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 Posted: Wed Sep 16, 2015 5:34 am Post subject: |
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| sligo wrote: |
| jackson7 wrote: |
1178 KRW to 1 USD
Anyone who's been here for a period of time knows that the exchange rate is volatile, and whether it's the government propping up the chaebols, or the market moving with the ebbs and flows of foreign investing, it moves. A lot. Take a peek at the 5- and 10-year rates and you'll see this isn't awful, and if you feel it is, hang on to your cash and put them in the 7.5% CDs that can be found across the country (for F-visa holders).
If you're not on an F-visa and you're hurting when you send money home (and you have to, for loans or other reasons), you're likely young enough to get more education (grad or trade school) and start a new career (neither hagwons nor Korean public school gigs are likely to allow you the growing room to be careers).
J7 |
Do you have information about these high interest accounts for F visa holders? I tried to find some info, but most are only for Foreign women married to Korean men. |
They are pretty much gone. The post office offered the highest rates but they don't have these accounts any longer.
These were around a few months ago:
Woori: 7.5% 300k/month 1 year only the foreign husband or wife
KEB: 5% for 3 years or 4.8% for 1 year. foreign husband or wife and their Korean spouse and even their children can open. 300k/month/account
Shinhan: 6% 3 years, 200k/month only for the foreign husband or wife.
This could be outdated by now. Maybe they don't even have these accounts any more or even if they do, the interest is most likely lower. |
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wooden nickels
Joined: 23 May 2010
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| Posted: Wed Sep 16, 2015 5:29 pm Post subject: |
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10% interest rate for 2 year CD of $5000 or more. It's no longer available. Now the rate is closer to .2%
New BMW for $17000. It's no longer available. Now it's $48000.
Hamburger for $.65. No longer available. Now $2.39.
What's the point? |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Wed Sep 16, 2015 9:16 pm Post subject: |
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| sligo wrote: |
| jackson7 wrote: |
1178 KRW to 1 USD
Anyone who's been here for a period of time knows that the exchange rate is volatile, and whether it's the government propping up the chaebols, or the market moving with the ebbs and flows of foreign investing, it moves. A lot. Take a peek at the 5- and 10-year rates and you'll see this isn't awful, and if you feel it is, hang on to your cash and put them in the 7.5% CDs that can be found across the country (for F-visa holders).
If you're not on an F-visa and you're hurting when you send money home (and you have to, for loans or other reasons), you're likely young enough to get more education (grad or trade school) and start a new career (neither hagwons nor Korean public school gigs are likely to allow you the growing room to be careers).
J7 |
Do you have information about these high interest accounts for F visa holders? I tried to find some info, but most are only for Foreign women married to Korean men. |
They only let foreign women invest and not men? Kind of sexist isn't it? |
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GENO123
Joined: 28 Jan 2010
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| Posted: Thu Sep 17, 2015 7:53 am Post subject: |
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| jackson7 wrote: |
1178 KRW to 1 USD
Anyone who's been here for a period of time knows that the exchange rate is volatile, and whether it's the government propping up the chaebols, or the market moving with the ebbs and flows of foreign investing, it moves. A lot. Take a peek at the 5- and 10-year rates and you'll see this isn't awful, and if you feel it is, hang on to your cash and put them in the 7.5% CDs that can be found across the country (for F-visa holders).
If you're not on an F-visa and you're hurting when you send money home (and you have to, for loans or other reasons), you're likely young enough to get more education (grad or trade school) and start a new career (neither hagwons nor Korean public school gigs are likely to allow you the growing room to be careers).
J7 |
it is only going to get worse. |
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jackson7
Joined: 01 Aug 2006
Location: Kim Jong Il's Future Fireball
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| Posted: Thu Sep 17, 2015 2:28 pm Post subject: |
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| GENO123 wrote: |
| jackson7 wrote: |
1178 KRW to 1 USD
Anyone who's been here for a period of time knows that the exchange rate is volatile, and whether it's the government propping up the chaebols, or the market moving with the ebbs and flows of foreign investing, it moves. A lot. Take a peek at the 5- and 10-year rates and you'll see this isn't awful, and if you feel it is, hang on to your cash and put them in the 7.5% CDs that can be found across the country (for F-visa holders).
If you're not on an F-visa and you're hurting when you send money home (and you have to, for loans or other reasons), you're likely young enough to get more education (grad or trade school) and start a new career (neither hagwons nor Korean public school gigs are likely to allow you the growing room to be careers).
J7 |
it is only going to get worse. |
Unless it gets better (1166 KRW to 1 USD)  |
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GENO123
Joined: 28 Jan 2010
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jackson7
Joined: 01 Aug 2006
Location: Kim Jong Il's Future Fireball
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| Posted: Thu Sep 17, 2015 3:41 pm Post subject: |
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Cough two-week old article. You can keep beating that drum while cherry picking articles, but the market is much stronger than anything the Korean government tries to do to devalue its currency. We saw it years ago when the BOK tried to affect currency rates through a combination of rhetoric and currency sales, but the market forces overcame every effort they made. Every. Time. I'd be more concerned about the public debt and consumer habits of Koreans than the chicken little currency war.
J7 |
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GENO123
Joined: 28 Jan 2010
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| Posted: Thu Sep 17, 2015 5:33 pm Post subject: |
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| I wonder how much the happy the Korean government will be if a Lexus is less expensive than a KIA. But by all means make a big bet on the Korean Won versus the dollar. |
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jackson7
Joined: 01 Aug 2006
Location: Kim Jong Il's Future Fireball
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| Posted: Fri Sep 18, 2015 12:19 am Post subject: |
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| C'mon GENO, we've been down this path before. You say the sky is falling, I say it isn't, and then I place my bet against your prediction, which has turned out very well for me in the past. Your hyperbole is mildly entertaining, but painfully redundant, too. |
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