Korean Job Discussion Forums

[ytuque]

http://www.cnbc.com/id/15840232?video=902250874&play=1

[bassexpander]

Thanks for that.

I'll wait longer on bringing more of my money here then.

[Paddycakes]

Pick a card, any card...

Remember the "experts" were also predicting $200 oil...

[hagwonnewbie]

My prediction is 2009 for 2009

[ttompatz]

1470 today at the bank... 1600 is not far away.

[bassexpander]

How/where did you see 1470? Close was at 1422 before you posted.

Maybe you saw it at its worst earlier in the day?

You're right, though, 1600 ain't far off!

[call_the_shots]

Personally, I don't see the won staying much higher than it is now for a significalt length of time. I did a cursory search of historical rates at oanda.com, and with the exception of the 3-month period at the heart of the IMF crisis (12/12/97-3/15/98), I couldn't find a single day when the won closed higher than 1500.

Then again, my prediction is just as reliable as anyone else's. As another poster said:

[PRagic]

I worked downtown when the financial crisis hit in late 97-98. It was so sad it was almost comical. You'd see foreigners going to banks a few times a day (not much in terms of Internet then) and shaking their heads on the way out. The won was losing by the hour, not the day, and when it finally hit the 1800 mark, a lot of people just threw in the towel and bailed.

I worry now because there is no demand to support a short term concentrated recovery effort in Korea like there was in 98-99. Aside from the foreign reserves and a prolonged 'panick void' in Asia in general, the fundamentals are similar, and they're not good. Let's just hope that the Korean government isn't bullshitting about it's reserve holdings like it did in 97!

Then we have to worry about the realestate bubble in Korea. If THAT pops, then domestic demand is done for 10 years and Korean companies will really feel the pain.

The upside? I think the news report mentioned that interests rates should be going up. I get messages a few times a week about higher interests rates for longer term savings. The last one I got was 8.1%. When the 'IMF' hit (laughable, that expression), we had money locked in at 13% for a year. My sister-in-law actually found one for 17%. 17%!

The governments move to increase interest rates for foreign holdings could be a godsend, especially when it comes to attracting yen. The downside is that the guarenteed amount isn't all too high.

I like the Bassman's idea about bringing money back into Korea. However, another option is to buy real estate in the US when that market nears or hits rock bottom. Then again, there might be more upside in the real eastate market right here in Seoul. Should make for an interesting, if not frightening next year or two if nothing else.

[buymybook]

Someone mentioned on another thread that an exchange of dollars for Won could be a good investment if you had 10 thousand or more and the Won could get back to equal the dollar in strength within a year or two. Should I do it?

[victorology]

[ttompatz]

[bassexpander]

[xCustomx]