Korean Job Discussion Forums

[crabstix]

I am on a waiting list for a job for a high school (applied through GEPIK)which is likely to be in Mid to late Feb 2009. I have no idea what the normal rate of pound sterling to Korean won is but I have heard that the Korean won is weak (and so it the pound!!!). Would I get a reasonable rate if I change my pounds to Korean won now?

[English Matt]

The rate for changing from sterling into won is much better than 'normal'. I think you'll probably get 2100 or 2200 won per pound at the moment. Before this whole sorry mess started it was more like 2000 won to the pound. The likelihood is that the pound will continue to fall, the won might fall a bit more.....beyond that who knows when either currency will begin to rally against the dollar and at what rate.

For the past few months, the won and the pound have been racing eachother to the bottom against the pound, with the won plummeting more heavily and further. However, the pounds recent losses have redressed the balance somewhat. From what I've been reading, the pound is expected to suffer more when the UK officially goes into recession at the beginning of next year, which will reduce the amount of won you will get for your pounds. The won, at the moment (although everyone here is very cynical about this) is expected to rally next year....so if that happens and the pound falls then the amount of won you can get for your pounds will reduce dramatically.

So basically, yes change your dough now. The pound is expected to take a big hit next year, whilst the won is predicted to rise. My advice would be get down to the bank today.