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Toronto
Joined: 26 Nov 2007
Location: Seoul - Area
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 Posted: Thu Oct 09, 2008 4:21 am Post subject: Dollar-Won Ratio: Price of Imported versus Domestic Goods |
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First Question: What happens to the price of imported goods when the value of the won lowers?
Second Question: As a foreign teacher, are you considered an imported or domestic good?
No need to have studied econ 101 to get these questions right.
The incentive of high wages to compensate for the low standard of living has narrowed in this country. NOW is the time to barging for higher wages. Don't be a sucker, Koreans can answer the above two questions as well as anyone else. Koreans know the deal. Those kids coming back home because they can't afford to study (-party-) overseas, they still have to learn and they still have cash to pay for classes.
Forget dollars - I should be asking to be paid in bullion. That will be the only thing worth anything at the end of this year. |
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hari seldon
Joined: 05 Dec 2004
Location: Incheon
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| Posted: Thu Oct 09, 2008 4:52 am Post subject: Re: Dollar-Won Ratio: Price of Imported versus Domestic Good |
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| Toronto wrote: |
First Question: What happens to the price of imported goods when the value of the won lowers?
Second Question: As a foreign teacher, are you considered an imported or domestic good?
No need to have studied econ 101 to get these questions right.
...NOW is the time to bargain for higher wages. Don't be a sucker, Koreans can answer the above two questions as well as anyone else. Koreans know the deal... |
That's a perfect analogy. Koreans know that imported goods rise in price when the won falls. They should expect to pay more for us as well.
Most E-2s don't plan to stay in Korea more than a year or two. We're sending money home every month to pay debts. If we can't earn enough money to pay our debts back home and save, there's no point in being here. |
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expat2001
Joined: 28 Jan 2006
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| Posted: Thu Oct 09, 2008 5:01 pm Post subject: Re: Dollar-Won Ratio: Price of Imported versus Domestic Good |
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| hari seldon wrote: |
| Toronto wrote: |
First Question: What happens to the price of imported goods when the value of the won lowers?
Second Question: As a foreign teacher, are you considered an imported or domestic good?
No need to have studied econ 101 to get these questions right.
...NOW is the time to bargain for higher wages. Don't be a sucker, Koreans can answer the above two questions as well as anyone else. Koreans know the deal... |
That's a perfect analogy. Koreans know that imported goods rise in price when the won falls. They should expect to pay more for us as well.
Most E-2s don't plan to stay in Korea more than a year or two. We're sending money home every month to pay debts. If we can't earn enough money to pay our debts back home and save, there's no point in being here. |
I wonder if Lee and Kim are smart enough to realise this . |
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