Korean Job Discussion Forums

[earthbound14]

Some things in this country are way too expensive. I just don't get it. Ya of course you can buy things cheap in Korea, it's not exactly the richest country in the world, some things need to be cheap. But given it's status in the world, a lot of thing seems to be way over priced. I'm not talking about import items either, I'm talkin good old Korean products.

For example: Hyosung Motorcycles vs Honda

The Korean 250cc Comet costs about 4,200 US $ in Korea.
The Japanese 250cc Honda VTR costs about the same in Japan.

What the *beep*? Korean labour is much cheaper, the country is much poorer and let's face it the Korean motorcycle is not exactly as nice a the Honda. Honda has a long history and a great reputation as well as being a global leader in the manufacturing of motorcycles, Hyosung has a short history (first bikes exported to Japan in 1988) they have a poor reputation even in their own country and they just started selling their bikes globally about 2 years ago. They have a bad reputation for poor service and low quality. We're talking polar opposites here (OK China makes far worse products).

This is only one item and there are plenty more

Black Yak vs North Face
Samsung laptops vs Toshiba laptops
Korean rice vs American rice
Korean condoms vs no bloody good condoms in the country (import your own Trojans)

Of course there are items that are pretty good here

HJC motorcycle helmets are well priced...but I'm not asking about that.

Why exactly do some items cost so bloody much in an economy that can't afford the high cost? I'm kind of tired of being over charged for something that is generally only moderately good. While I can cheap junk for cheap (ramyin noodles, cheap jeans from Dongdaemun, a good entry level motorcycle helmet....).

Buying quality items in Korea is a drag.

[pest2]

Korea has a number of tariffs and taxes on imports. Other countries, in turn, impose retributive tariffs on certain Korean goods. Any economist will tell you that price controls and other barriers to free trade impede upon market efficiency. The market equilibrium price for goods in countries with trade barriers will be naturally higher than in countries with with free trade. Korea, with all its nationalistic desire to 'buy only Korean' (ex. rice farmer protests and strikes), really just damages its own economy in this way... and Koreans, with that same nationalistic desire to see their country be a top world player, continue to live in a country where the average person gets about 17k$ a year and yet the cost of living is nearly as high as it is in Japan or the USA...

[Real Reality]

Beef Prices Highest in Korea
By Kim Yon-se, Korea Times (January 22, 2007)
http://www.koreatimes.co.kr/www/news/nation/news_view.asp?newsIdx=3060114

27% of Economy Goes Underground
By Kim Sung-jin, Korea Times (February 26, 2006)
http://www.koreatimes.co.kr/www/news/nation/news_view.asp?newsIdx=2825725

Transparency International Says Korea's Corruption Worsens
By Kim Tae-jong, Korea Times (September 26, 2007)
http://www.koreatimes.co.kr/www/news/nation/2007/09/117_10820.html

Major Hospitals Overcharge Patients
By Kim Tae-jong, Korea Times (May 8, 2007)
http://www.koreatimes.co.kr/www/news/nation/2007/05/117_2535.html

[in_seoul_2003]

In any sane world there really is no reason to pay 4000 won for 100grams of walnuts at some dirty local market, especially when you can get a 3kg bag of walnuts from Costco.

But, you see, these are *Korean* walnuts and everybody knows that Korean walnuts (and apples and pears and beef and pork and Levis and...) are the BEST in the world.

And that's just the way it is. And there's no point in feeling sorry for Koreans because they actually beleive this stuff.

[mspencer1983]

[kentucker4]

Great, my recruiter and everyone else harped non stop on how cheap living in S Korea was and now it looks like it will be just as expensive minus rent.

[nateium]

For the same reason things on many islands are more expensive...

[Ya-ta Boy]

Korea has actively tried to keep foreign products out of the country. It is only now beginning to ease up. One advantage of the past system of high prices here was to enable the chaebols to sell at low prices abroad.

Taxes aren't the only way they've kept things out. It used to be, if you bought an imported car, you got your taxes checked, very closely. You also got your car keyed in the parking lot. It's also commonly believed that foreigners send shoddy products here...New Zealand keeps the good kiwi fruit for themselves, etc.

[MarionG]

Buy Korean, Korean products are the best...

I remember only a few years ago there was a huge "buy American" push in the US. Autoworkers driving foreign cars were required to park in separate parking lots far from their actual work site...notes were left on my Mazda about my "lack" of patriotism etc. etc.

Buy (local products) only pushes usually have one of two reasons behind them:
1) local products are not competitive with imported products, or
2) local economy needs local dollars to stay within it in order to promote a healthy general economy, which helps everyone.

The latter is the what drives Korea's prices for local goods, and the millions of statements that the local (whatever) is the best. Korea has been a developing economy for a very short time, less than 30 years, and competition from outside damages that growth. As the local economy becomes "mature," competition is less damaging and may even be good, as imported cars eventually caused American made cars to improve. But in a developing economy, which Korea still is, it's not so good. Korea is near maturity...

[renzobenzo1]

yeh it's bullshit, i hate it.

can't get my daily dose of fruit and veges nor my iron intake of beef at those prices :/

[oxfordstu]

What I don't understand is why rice is so expensive here. I mean, a few kilos is going to cost me between 12,000 - 16,000 won!! Ridiculous! How can a Korean staple be so expensive? A box of Uncle Ben's minute rice is 3-4 bucks in the US.

[mindmetoo]

[CeleryMan]

Greed, Inefficient Sales Channels, Gross Incompetence to name a few. Did I mention greed?

[contrarian]

It depends on what you are buying. The car I bought here sold for 8.5 million won cash. The same car in Canada cost 13,500 without air conditioning which my Korean car had (Kia Rio to be preocise).

[contrarian]

It depends on what you are buying. The car I bought here sold for 8.5 million won cash. The same car in Canada cost 13,500 without air conditioning which my Korean car had (Kia Rio to be preocise).