Korean Job Discussion Forums

[xCustomx]

I don't understand this at all. The Korean government will put $10 billion into the market and it looks like the $700 billion plan will pass through some time this week, yet the won continues to lose value. I'm cashing out next March, and this is really getting depressing seeing how much value my savings has lost.

[Zutronius]

I'm debating signing up for another year. But if the won continues to slide whats the point?

[xCustomx]

[Bigfeet]

Looks like the currency traders are thinking that South Korea is too dependent on export to the US.

[Zutronius]

1.00 KRW
=
0.000869746 CAD

Oy

[Tobias]

Won at 1350 by February.

If the US daddy bails out the rich, look for inflation. The 700 billion amounts to only about 2300 per household, but that's enough to cause a jump in prices in the USA in the short run. If the government does nothing, we lose. If it bails out the rich, we lose. But we are the losers by design, and we are about to play our role as whipping boys once again. The powers know we can't responsibly handle 700 billion thrown in our laps, and they're right. This is the reason the rich are getting this bone and not the common folk. Can you imagine the inflation we'd see if commoners were to get 2300-dollar stimulus checks from Uncle Sam?

Best thing to do is batten down the hatches and wait it out. When the won falls, withdraw funds to live on here using your US ATM card. If you return to the US, ship a bunch of dollars back here if you're going to return to Korea and stay here a while. If you're going home soon for good, it's up to you. You're going to be screwed, more than likely. If I were going home tomorrow for good, I'd be making myself two special coats to hold like 20,000 dollars in won. I'd enlist a brother to help me take my won back home. I'd put it in a safe deposit box in a bank and wait for it to appreciate again. If the won looks like it's gonna crash, I'd convert it, sure, but it would sit in the box until its value returned to around 1050 or more to the greenback.

[D.D.]

If you have a contract for 2.3 million = $ 2009 Canadian or $1939 U.S. It was even worse about an hour ago.

The won bounced back about 40 bucks in the last hour but took a beating earlier in the day.

[Return Jones]

KEB wiring home rate at noon Sept 29:

1164.47won per CDN$
1205.70won per US$

This is f'ing serious shyte we're in here.

[sojourner1]

Yea, nothing is looking good with money and economics these days. This is not grandpas day anymore when it was quite doable for any working person to save money, build a house, and own 2 cars while being able to afford raising a family. Those were the golden years. Expect to continue losing in this time period in history.

[Tobias]

Late in July I shipped 12 million to my US account. I made over 600 bucks by doing that, compared to what I'd get doing that today. But I still lost over 1500 in one year. Beats losing 2250, though.

[pokesplort]

this sucks! in the 6 months it took me to get everything organized to get here its at the point now where im not all that much better off from where i was. which was poor. i got credit cards to pay off! what do you guys think? should i wait it out a few months and then try and pay them? honestly i havent been paying on them in soooo long i just want to avoid legal action of any kind. but maybe they'll be grateful of any money i send them since the govt has to be their bills now. *sigh*what am i gonna have to stay here 3 years now! i only planned on 2 im tired of money problems, but i guess they arent going away any time soon...

[Tobias]

[D.D.]

Another huge kick in the .... today. Canadian is 1167 and American is at 1223. Time to run.

[marlow]

If you are here and can stay, might as well wait. If you aren't here and can stay away, you should.

[Bibbitybop]

That 700 billion USD bailout plan didn't pass.

Now what will happen (keeping in mind no one knows)?