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Imagine if there were post-dated cheques in Korea?

 
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VanIslander



Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!

PostPosted: Tue Jan 13, 2009 6:57 am    Post subject: Imagine if there were post-dated cheques in Korea? Reply with quote

How high would they bounce?
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sojourner1



Joined: 17 Apr 2007
Location: Where meggi swim and 2 wheeled tractors go sput put chug alugg pug pug

PostPosted: Tue Jan 13, 2009 8:56 am    Post subject: Reply with quote

Bounce to the tune of 1 quadrillion won?
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antoniothegreat



Joined: 28 Aug 2005
Location: Yangpyeong

PostPosted: Tue Jan 13, 2009 9:04 am    Post subject: Reply with quote

that's why they dont have them
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Xuanzang



Joined: 10 Apr 2007
Location: Sadang

PostPosted: Tue Jan 13, 2009 5:23 pm    Post subject: Re: Imagine if there were post-dated cheques in Korea? Reply with quote

VanIslander wrote:
How high would they bounce?


High enough to clear the US deficit and provide medicare for all.
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diver



Joined: 16 Jun 2003

PostPosted: Tue Jan 13, 2009 5:58 pm    Post subject: Reply with quote

If you could attach a seat to one, Korea would finally have its own manned space flight program.
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sojusucks



Joined: 31 May 2008

PostPosted: Sun Jan 18, 2009 11:25 pm    Post subject: Reply with quote

A past newspaper article mentioned that many Koreans default on loans and now fewer Koreans have collateral for loans.

If post-dated checks were around in Korea, the economy would be much, much, much, much worse right now.
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caniff



Joined: 03 Feb 2004
Location: All over the map

PostPosted: Sun Jan 18, 2009 11:28 pm    Post subject: Reply with quote

I've heard Asian countries in general don't use checking accounts, but I dunno if that's true.

Make of that what you will.
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itaewonguy



Joined: 25 Mar 2003

PostPosted: Sun Jan 18, 2009 11:29 pm    Post subject: Reply with quote

when I first came to korea back in 97.. they had hire purchase!

I remember buying a stereo, dvd, tv, fridge and washing machine all with like 100K down and monthly payments!!
just like back home..

6 months into the payments the laws changed! NO MORE HP!!
to many defaults on the payments! hahahahaha

and 10 years later.. still no HP!!
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