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seosan08
Joined: 10 Oct 2008
Location: Korea
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 Posted: Wed Nov 19, 2008 4:02 pm Post subject: Will The Won Hit 1500 Today? |
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Right now the won is KRW 1479.0000 = $1. Ouch, that's just shy of a 50% haircut on our salaries! TS hasn't quite HTF yet, either! |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Wed Nov 19, 2008 4:07 pm Post subject: |
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My american currency bank account has increased five million won in value in just over a month. I'm tempted to break the term deposit, lose the interest, but cash in on the conversion rate.
Tempting... |
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Teelo
Joined: 09 Oct 2008
Location: Wellington, NZ
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| Posted: Wed Nov 19, 2008 4:24 pm Post subject: |
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| VanIslander wrote: |
My american currency bank account has increased five million won in value in just over a month. I'm tempted to break the term deposit, lose the interest, but cash in on the conversion rate.
Tempting... |
Doooo iiiiiiiiiit.
And chuck me a cut for motivating you  |
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seosan08
Joined: 10 Oct 2008
Location: Korea
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| Posted: Wed Nov 19, 2008 4:31 pm Post subject: |
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| I'm just sitting on 50 oz of gold I've bought over the last couple of years. Wish I was more cash rich about now! |
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marlow
Joined: 06 Feb 2005
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| Posted: Wed Nov 19, 2008 4:49 pm Post subject: |
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| Won't surprise me if it does. Korea is going to have a tough time getting teachers this winter, or they'll have a whole lot of people too dumb to have checked exchange rates before coming over. |
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seosan08
Joined: 10 Oct 2008
Location: Korea
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| Posted: Wed Nov 19, 2008 4:58 pm Post subject: |
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| marlow wrote: |
| Won't surprise me if it does. Korea is going to have a tough time getting teachers this winter, or they'll have a whole lot of people too dumb to have checked exchange rates before coming over. |
Some of those people may have no choice things being the way they are in NA. But I suspect this is going to be a LONG, cold, depressing winter. |
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itstiff
Joined: 16 Oct 2008
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| Posted: Wed Nov 19, 2008 5:26 pm Post subject: |
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sigh, peace out korea.
the schools aren't going to be raising the salaries any time soon too. it's going to fall to 50% soon and by then all the people who have been screaming about even thailand being the better option are absolutely right. |
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Tobias
Joined: 02 Jun 2008
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| Posted: Wed Nov 19, 2008 5:27 pm Post subject: Das ist relativ |
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| seosan08 wrote: |
| marlow wrote: |
| Won't surprise me if it does. Korea is going to have a tough time getting teachers this winter, or they'll have a whole lot of people too dumb to have checked exchange rates before coming over. |
Some of those people may have no choice things being the way they are in NA. But I suspect this is going to be a LONG, cold, depressing winter. |
Only if you choose to stay here. I'm slowly packing my shit and giving things away, just in case it all goes totally to hell. The odds are fair that we'll see 2000 per before this bottoms out around August or September of 2009. The powers-that-are in North America are bringing on a recession, as they always do, to keep inflation in check when the 700 billion hits the economy. Good thing there's a designated-loser class in the USA to take the hit, as they always do! Ah, nothing like being politically neutered. |
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seosan08
Joined: 10 Oct 2008
Location: Korea
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| Posted: Wed Nov 19, 2008 5:36 pm Post subject: |
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| itstiff wrote: |
sigh, peace out korea.
the schools aren't going to be raising the salaries any time soon too. it's going to fall to 50% soon and by then all the people who have been screaming about even thailand being the better option are absolutely right. |
Until the bhat goes all to hell again! |
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hagwonnewbie
Joined: 09 Feb 2007
Location: Asia
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| Posted: Wed Nov 19, 2008 5:43 pm Post subject: |
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| Actually when the won hits 2000, and it may, your pay will officially be cut in half. 1500 only represents a 1/3 cut in pay. |
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itstiff
Joined: 16 Oct 2008
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| Posted: Wed Nov 19, 2008 5:46 pm Post subject: |
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| seosan08 wrote: |
| itstiff wrote: |
sigh, peace out korea.
the schools aren't going to be raising the salaries any time soon too. it's going to fall to 50% soon and by then all the people who have been screaming about even thailand being the better option are absolutely right. |
Until the bhat goes all to hell again! |
true that.. or "good point", i spent 5 minutes explaining 'good point' to my middler schoolers today. i have the right to abode in hong kong, i should look into life there. the hk$ never really goes far from 7.6 to 7.9 to US$1. |
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Snowkr
Joined: 03 Jun 2005
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| Posted: Wed Nov 19, 2008 5:49 pm Post subject: |
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most people can still save more even if the pay is cut in half by the exchange rate. If you're paying off loans, you can still make the payments while covering basic costs over here unless you have extreme circumstances.
Guess we all just need to cut back on our spending on this side for awhile. It never hurts to be a bit more frugal. Seems like Americans are learning this the hard way back home... |
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losing_touch
Joined: 26 Jun 2008
Location: Ulsan - I think!
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| Posted: Wed Nov 19, 2008 6:13 pm Post subject: |
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I think it is time for an exit strategy. Thailand looks great. Let me think out loud here:
2,300,000 Won / 1500 = $1533
50,000 Baht / 35 = $1428
The cost of living for me in Thailand is about half of what it is here. The resume is getting primed. |
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princess
Joined: 16 Jan 2003
Location: soul of Asia
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| Posted: Wed Nov 19, 2008 6:22 pm Post subject: |
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| I just looked at an online currency cnversion chart. 2 milion won equals about $1300....ouch!!!!!!!!!! Double ouch!!!!!!!!!!!!!!!! I wonder how many Koreans will go to the states on the new 90 day visa they just got passed here? They are in for a treat when they change their won into dollars. |
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greekvvedge
Joined: 19 Jun 2007
Location: Apkujeong
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| Posted: Wed Nov 19, 2008 6:41 pm Post subject: |
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| Snowkr wrote: |
most people can still save more even if the pay is cut in half by the exchange rate. If you're paying off loans, you can still make the payments while covering basic costs over here unless you have extreme circumstances.
Guess we all just need to cut back on our spending on this side for awhile. It never hurts to be a bit more frugal. Seems like Americans are learning this the hard way back home... |
good sane logic. unless people have a one thousand dollar loan payment(yikes!), I don't see why it would be necessary to panic TOO much.
On the other hand, Japan is looking really good as usual! |
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