Korean Job Discussion Forums

wuzza · Joined: 02 May 2003

I think the confusion stems from people asking for a figure in dollars, when they really mean Won.
So if somebody advertises for $50, you have to ask the question, "do you mean 50,000 won, or $50 i.e 65,000 Won?".

I got all excited about a camera that was going for $650 cause I assumed the seller meant 650,000. Sadly, it was nearer 900,000 won.

Johnny Conqueroo · Joined: 02 Feb 2009 Location: Seoul, Korea

U$ dollars are one currency of several defacto universal currencies by which other currencies are measured in value against. Although it seems to be changing as it loses ground against other world curriencies, for the most part it still represents a basic financial standard.

If I buy something in U$ dollars, and its cost is accepted as a benchmark of relative value, were I to sell it, I would expect or at least hope to regain as close to its current relative value as I could - regardless of the currency it may be being traded in.

Clearly it should be apparent that there will be a substantial imbalance in the transaction for one of the parties if the buyer's currency is in discount compared to the seller's currency being in premium. This forum presents a small example of a larger, global economic issue, and represents difficulty for both seller and buyer, both of whom are looking only to get their money's worth.

But it should be intuitively obvious to even a casual observer that if a potential buyer feels that the purchase price exceeds their ability to make it, it is not the seller's obligation to accommodate the buyer's desire for a price reduction - unless of course the seller chooses to do so.

More often than not, this type of value imbalance is troublesome for both parties, but rational thinking can make this much easier to manage, and I suggest that all items posted for sale be listed in KRW (after conversion from U$ dollars if necessary), and then a buyer can more easily make the choice of whether or not to pursue the transaction.

Remember, when the Won is strong, you'll NEVER hear anyone complaing about how much greater their buying power is when converting to U$ dollars.