Korean Job Discussion Forums

[jajdude]

How's the won doing? Looked in the paper and saw it at about 1120 to the US dollar. Pretty good.

Anyone notice 5 years ago the Canadian dollar was under 70 cents US, and now it is around 80.

Has the US dollar gotten weaker the past few years?

[Ya-ta Boy]

According to today's paper, the US dollar has declined 20% in the last two years. It hasn't been noticable in Korea because the gov't has intervened to prop up the won. So far they haven't done that in the latest surge.

[yemanja]

I heard they are not propping the won anymore. has anyone else heard this?

[Real Reality]

Seoul warns speculators on won
The Bank of Korea issued a blunt warning yesterday, saying it was prepared to intervene in the currency market to curb the sharp rise of the won against the U.S. dollar. "The won has appreciated too rapidly in the recent days,..." a senior official at the central bank said yesterday. But ING Financial Markets yesterday predicted that the U.S. dollar would weaken against the Korean won to about 1,100 won later this year because of Korea's large current account surplus.
by Moon So-young
JoongAng Daily (October 29, 2004)
http://joongangdaily.joins.com/200410/28/200410282246235739900090509052.html

Won Reaches Four-Year High Against Plunging Greenback
http://english.chosun.com/w21data/html/news/200410/200410290023.html

Won tacks on value for 8th straight day
http://joongangdaily.joins.com/200410/29/200410292300062339900090409041.html

Economic Downturn Continues
by Kim Hong-su
Digital Chosunilbo (October 29, 2004)
http://english.chosun.com/w21data/html/news/200410/200410290038.html

Leading Business Index Falls
Key indexes for current and future economic trends fell in September for the sixth straight month, indicating that the Korean economy has entered a double-dip downturn, meaning the economy is reentering a downturn without first going into an upturn.
By Lee Hyo-sik
The Korea Times (October 29, 2004)
http://times.hankooki.com/lpage/200410/kt2004102915081410440.htm

Part-Timers Fall Victim to Labor Exploitation
70% of Employers Fail to Pay Due Wages
By Na Jeong-ju
The Korea Times (October 29, 2004)
http://times.hankooki.com/lpage/nation/200410/kt2004102917064010510.htm